Allegion PLC (ALLE) Upgraded to Hold by BidaskClub
BidaskClub upgraded shares of Allegion PLC (NYSE:ALLE) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Allegion PLC from a buy rating to a hold rating in a report on Monday, June 12th. Wolfe Research initiated coverage on shares of Allegion PLC in a report on Tuesday, July 11th. They issued a market perform rating on the stock. Imperial Capital raised their target price on shares of Allegion PLC from $79.00 to $85.00 and gave the stock an outperform rating in a report on Monday, May 15th. Finally, Robert W. Baird set a $85.00 target price on shares of Allegion PLC and gave the stock a hold rating in a report on Thursday, August 24th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $86.00.
Shares of Allegion PLC (ALLE) opened at 80.81 on Thursday. The stock’s 50 day moving average price is $79.53 and its 200-day moving average price is $78.06. Allegion PLC has a 52-week low of $61.47 and a 52-week high of $82.90. The firm has a market cap of $7.68 billion, a PE ratio of 31.26 and a beta of 1.10.
Allegion PLC (NYSE:ALLE) last issued its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.00 by $0.11. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The business had revenue of $627 million for the quarter, compared to analysts’ expectations of $613.37 million. During the same quarter last year, the company posted $0.99 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Allegion PLC will post $3.78 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 18th will be issued a $0.16 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.64 dividend on an annualized basis and a yield of 0.79%. Allegion PLC’s dividend payout ratio is currently 24.62%.
In other Allegion PLC news, insider Timothy P. Eckersley sold 12,782 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $81.14, for a total value of $1,037,131.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.64% of the company’s stock.
Several large investors have recently made changes to their positions in ALLE. Tredje AP fonden acquired a new stake in shares of Allegion PLC in the second quarter valued at approximately $105,000. QS Investors LLC increased its stake in shares of Allegion PLC by 1.2% in the second quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock valued at $106,000 after purchasing an additional 16 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Allegion PLC by 210.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,414 shares of the scientific and technical instruments company’s stock valued at $107,000 after purchasing an additional 959 shares during the period. Acrospire Investment Management LLC increased its stake in shares of Allegion PLC by 75.0% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the scientific and technical instruments company’s stock valued at $114,000 after purchasing an additional 600 shares during the period. Finally, First Manhattan Co. increased its stake in shares of Allegion PLC by 51.3% in the first quarter. First Manhattan Co. now owns 2,212 shares of the scientific and technical instruments company’s stock valued at $152,000 after purchasing an additional 750 shares during the period. Institutional investors own 89.86% of the company’s stock.
About Allegion PLC
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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