Allegion PLC (ALLE) Reaches New 1-Year High at $86.97
Allegion PLC (NYSE:ALLE) shares hit a new 52-week high on Tuesday . The stock traded as high as $86.97 and last traded at $87.08, with a volume of 155,579 shares trading hands. The stock had previously closed at $86.53.
Several research analysts have weighed in on the company. Robert W. Baird set a $85.00 price target on Allegion PLC and gave the company a “hold” rating in a report on Thursday, August 24th. BidaskClub upgraded Allegion PLC from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Finally, Wolfe Research began coverage on shares of Allegion PLC in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $84.75.
The stock’s 50 day moving average is $81.45 and its 200 day moving average is $79.40. The company has a market capitalization of $8.24 billion, a P/E ratio of 33.55 and a beta of 1.13.
Allegion PLC (NYSE:ALLE) last released its earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The company had revenue of $627.00 million during the quarter, compared to the consensus estimate of $613.37 million. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Allegion PLC will post $3.78 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.64 dividend on an annualized basis and a yield of 0.74%. Allegion PLC’s payout ratio is 24.62%.
In other Allegion PLC news, insider Timothy P. Eckersley sold 12,782 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.14, for a total value of $1,037,131.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.64% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ALLE. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in shares of Allegion PLC during the 2nd quarter valued at $2,516,000. Credit Suisse AG raised its holdings in shares of Allegion PLC by 18.1% during the 1st quarter. Credit Suisse AG now owns 120,646 shares of the scientific and technical instruments company’s stock valued at $9,134,000 after purchasing an additional 18,495 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Allegion PLC by 5,286.4% during the 1st quarter. BlackRock Inc. now owns 5,209,003 shares of the scientific and technical instruments company’s stock valued at $394,319,000 after purchasing an additional 5,112,297 shares in the last quarter. Xact Kapitalforvaltning AB bought a new position in shares of Allegion PLC during the 2nd quarter valued at $1,193,000. Finally, Legal & General Group Plc raised its holdings in shares of Allegion PLC by 19.2% during the 2nd quarter. Legal & General Group Plc now owns 449,434 shares of the scientific and technical instruments company’s stock valued at $36,458,000 after purchasing an additional 72,258 shares in the last quarter. Institutional investors own 89.86% of the company’s stock.
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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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