Allegion PLC (NYSE:ALLE) Announces Dividend Increase – $0.55 Per Share

Allegion PLC (NYSE:ALLE) declared a quarterly dividend on Wednesday, February 4th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.55 per share by the scientific and technical instruments company on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, March 13th. This is a 7.8% increase from Allegion’s previous quarterly dividend of $0.51.

Allegion has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 11 years. Allegion has a dividend payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Allegion to earn $7.97 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 25.6%.

Allegion Trading Up 0.3%

Shares of ALLE stock traded up $0.50 during trading hours on Thursday, reaching $173.54. 42,096 shares of the stock were exchanged, compared to its average volume of 842,881. The company’s 50-day moving average price is $162.84 and its 200-day moving average price is $167.15. The firm has a market capitalization of $14.93 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 3.06 and a beta of 1.03. 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 has a 12-month low of $116.57 and a 12-month high of $180.68.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Berkshire Hathaway Inc acquired a new stake in Allegion during the 2nd quarter worth approximately $112,433,000. Norges Bank purchased a new stake in shares of Allegion in the 2nd quarter valued at approximately $109,862,000. Geode Capital Management LLC lifted its position in shares of 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 worth $369,514,000 after purchasing an additional 339,025 shares during the last quarter. Cooke & Bieler LP grew its stake in shares of Allegion by 118.5% during the second quarter. Cooke & Bieler LP now owns 544,659 shares of the scientific and technical instruments company’s stock worth $78,496,000 after purchasing an additional 295,395 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Allegion by 22.5% in the second quarter. Nordea Investment Management AB now owns 1,509,567 shares of the scientific and technical instruments company’s stock valued at $216,095,000 after buying an additional 277,241 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

About Allegion

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.