Allegion PLC (ALLE) Now Covered by Analysts at Berenberg Bank
Several other equities research analysts have also recently weighed in on ALLE. Imperial Capital reaffirmed an outperform rating and set a $71.00 price objective on shares of Allegion PLC in a research report on Wednesday, June 8th. Goldman Sachs Group Inc. started coverage on shares of Allegion PLC in a research report on Friday, June 10th. They set a buy rating and a $78.00 price objective for the company. Sanford C. Bernstein reaffirmed an outperform rating on shares of Allegion PLC in a research report on Monday, June 27th. Zacks Investment Research raised shares of Allegion PLC from a hold rating to a buy rating and set a $72.00 price objective for the company in a research report on Tuesday, June 28th. Finally, Credit Suisse Group AG reaffirmed a buy rating on shares of Allegion PLC in a research report on Saturday, July 9th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $75.00.
Shares of Allegion PLC (NYSE:ALLE) traded down 1.69% during midday trading on Thursday, hitting $66.80. 186,013 shares of the stock traded hands. Allegion PLC has a 52 week low of $52.95 and a 52 week high of $73.49. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 32.79 and a beta of 1.04. The firm’s 50-day moving average is $69.41 and its 200 day moving average is $68.14.
Allegion PLC (NYSE:ALLE) last announced its earnings results on Thursday, July 28th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.09. The company earned $584.90 million during the quarter, compared to analysts’ expectations of $574.13 million. Allegion PLC had a net margin of 9.06% and a return on equity of 476.64%. Allegion PLC’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Equities analysts forecast that Allegion PLC will post $3.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, September 13th. Allegion PLC’s dividend payout ratio is currently 23.53%.
In other news, insider Douglas P. Ranck sold 9,300 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $72.90, for a total value of $677,970.00. Following the completion of the transaction, the insider now owns 11,544 shares of the company’s stock, valued at $841,557.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Feng William Yu sold 21,535 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $72.80, for a total value of $1,567,748.00. Following the completion of the transaction, the insider now directly owns 53,539 shares of the company’s stock, valued at approximately $3,897,639.20. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in Allegion PLC by 7.5% in the first quarter. Goldman Sachs Group Inc. now owns 790,830 shares of the company’s stock worth $50,384,000 after buying an additional 54,866 shares in the last quarter. PCJ Investment Counsel Ltd. purchased a new stake in Allegion PLC during the first quarter worth $601,000. Scotia Capital Inc. increased its stake in Allegion PLC by 5.1% in the first quarter. Scotia Capital Inc. now owns 9,762 shares of the company’s stock worth $622,000 after buying an additional 473 shares in the last quarter. OMERS ADMINISTRATION Corp increased its stake in Allegion PLC by 44.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 22,300 shares of the company’s stock worth $1,421,000 after buying an additional 6,900 shares in the last quarter. Finally, Aviva PLC increased its stake in Allegion PLC by 0.8% in the first quarter. Aviva PLC now owns 49,429 shares of the company’s stock worth $3,149,000 after buying an additional 415 shares in the last quarter. 90.34% of the stock is owned by institutional investors.
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. It operates through three segments: Americas; Europe, the Middle East, India and Africa (EMEIA), and Asia Pacific. The Company’s products include door closers and controls, electronic security products, exit devices, time, attendance and workforce productivity systems, door and door frames (steel), electronic and biometric access control systems, locks, locksets and key systems, and other accessories.
Receive News & Ratings for Allegion PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegion PLC and related companies with MarketBeat.com's FREE daily email newsletter.