Allegion PLC (ALLE) Lifted to Strong-Buy at BidaskClub
BidaskClub upgraded shares of Allegion PLC (NYSE:ALLE) from a buy rating to a strong-buy rating in a report released on Tuesday morning.
Several other brokerages have also issued reports on ALLE. Wolfe Research started coverage on Allegion PLC in a research report on Tuesday, July 11th. They issued a market perform rating for the company. Robert W. Baird reissued a hold rating on shares of Allegion PLC in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $86.33.
Shares of Allegion PLC (ALLE) opened at 87.19 on Tuesday. Allegion PLC has a 52 week low of $61.47 and a 52 week high of $87.76. The firm has a 50-day moving average price of $81.91 and a 200-day moving average price of $79.54. The firm has a market cap of $8.28 billion, a PE ratio of 33.73 and a beta of 1.13.
Allegion PLC (NYSE:ALLE) last announced its earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The firm had revenue of $627.00 million during the quarter, compared to analyst estimates of $613.37 million. During the same quarter in the prior year, the company earned $0.99 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that Allegion PLC will post $3.78 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.64 annualized dividend and a dividend yield of 0.73%. Allegion PLC’s payout ratio is currently 24.62%.
In related news, insider Timothy P. Eckersley sold 12,782 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.64% of the company’s stock.
Several institutional investors have recently bought and sold shares of ALLE. Tredje AP fonden purchased a new stake in shares of Allegion PLC in the 2nd quarter worth approximately $105,000. QS Investors LLC grew its stake in shares of Allegion PLC by 1.2% in the 2nd quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock worth $106,000 after buying an additional 16 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Allegion PLC by 210.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,414 shares of the scientific and technical instruments company’s stock worth $107,000 after buying an additional 959 shares during the last quarter. Acrospire Investment Management LLC grew its stake in shares of Allegion PLC by 75.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the scientific and technical instruments company’s stock worth $114,000 after buying an additional 600 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Allegion PLC in the 1st quarter worth approximately $174,000. Institutional investors own 89.86% of the company’s stock.
Allegion PLC Company Profile
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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