Allegion PLC (NYSE:ALLE) Receives Average Recommendation of “Hold” from Brokerages

Allegion PLC (NYSE:ALLE) has earned a consensus rating of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $175.1250.

A number of equities research analysts recently weighed in on ALLE shares. Robert W. Baird boosted their price objective on shares of Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Wells Fargo & Company restated a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Barclays upped their target price on Allegion from $185.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their price objective on Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th.

Institutional Trading of Allegion

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC grew its position in Allegion by 380.0% in the 1st quarter. AQR Capital Management LLC now owns 1,118,960 shares of the scientific and technical instruments company’s stock worth $142,707,000 after purchasing an additional 885,857 shares during the last quarter. Berkshire Hathaway Inc bought a new position in Allegion in the 2nd quarter worth approximately $112,433,000. Norges Bank bought a new position in Allegion in the 2nd quarter worth approximately $109,862,000. Robeco Institutional Asset Management B.V. increased its position in Allegion by 390.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 593,298 shares of the scientific and technical instruments company’s stock valued at $85,506,000 after acquiring an additional 472,435 shares during the period. Finally, Geode Capital Management LLC raised its stake in Allegion by 15.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock valued at $369,514,000 after acquiring an additional 339,025 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Performance

ALLE stock opened at $161.02 on Friday. The stock’s 50 day simple moving average is $162.97 and its 200 day simple moving average is $164.16. Allegion has a 12-month low of $116.57 and a 12-month high of $180.68. The firm has a market cap of $13.85 billion, a P/E ratio of 21.79, a P/E/G ratio of 2.93 and a beta of 1.04. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Allegion had a net margin of 16.09% and a return on equity of 40.83%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.16 earnings per share. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, equities research analysts predict that Allegion will post 7.77 EPS for the current year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. Allegion’s payout ratio is 27.60%.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.