Allegion PLC (NYSE:ALLE) has earned a consensus recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $91.33.
Several equities research analysts recently weighed in on the company. Wells Fargo & Co reissued an “outperform” rating and set a $100.00 price objective (up previously from $90.00) on shares of Allegion in a report on Wednesday, October 18th. BidaskClub downgraded Allegion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. Robert W. Baird reissued a “hold” rating on shares of Allegion in a report on Tuesday, September 26th. Zacks Investment Research downgraded Allegion from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Wolfe Research raised Allegion from a “market perform” rating to an “outperform” rating in a report on Monday, October 30th.
A number of institutional investors and hedge funds have recently made changes to their positions in ALLE. Schwab Charles Investment Management Inc. lifted its holdings in Allegion by 7.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 456,865 shares of the scientific and technical instruments company’s stock worth $37,061,000 after buying an additional 30,567 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Allegion by 1,098.7% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,833 shares of the scientific and technical instruments company’s stock worth $1,122,000 after acquiring an additional 12,679 shares in the last quarter. Rhumbline Advisers raised its position in shares of Allegion by 5.3% in the 2nd quarter. Rhumbline Advisers now owns 183,022 shares of the scientific and technical instruments company’s stock worth $14,847,000 after acquiring an additional 9,206 shares in the last quarter. Wedbush Securities Inc. bought a new position in shares of Allegion in the 2nd quarter worth about $255,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Allegion in the 2nd quarter worth about $4,664,000. 89.37% of the stock is currently owned by hedge funds and other institutional investors.
Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.02. Allegion had a return on equity of 154.50% and a net margin of 14.37%. The firm had revenue of $609.40 million for the quarter, compared to the consensus estimate of $622.18 million. During the same quarter last year, the business posted $0.93 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. analysts expect that Allegion will post 3.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 18th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, December 15th. Allegion’s payout ratio is presently 18.18%.
Allegion 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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