Equities Analysts Issue Forecasts for Allegion plc’s Q2 2024 Earnings (NYSE:ALLE)

Allegion plc (NYSE:ALLE) – Equities researchers at Zacks Research lifted their Q2 2024 earnings estimates for Allegion in a research note issued to investors on Monday, April 15th. Zacks Research analyst R. Department now anticipates that the scientific and technical instruments company will earn $1.72 per share for the quarter, up from their previous forecast of $1.71. The consensus estimate for Allegion’s current full-year earnings is $7.01 per share. Zacks Research also issued estimates for Allegion’s Q4 2024 earnings at $1.81 EPS.

ALLE has been the topic of several other reports. Barclays increased their target price on shares of Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company lowered shares of Allegion from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $139.00 to $140.00 in a report on Wednesday, February 21st. Mizuho lowered shares of Allegion from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $140.00 to $141.00 in a report on Friday, February 23rd. Finally, UBS Group raised their price objective on shares of Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Allegion presently has an average rating of “Hold” and an average price target of $127.83.

Allegion Price Performance

Shares of ALLE stock opened at $126.39 on Tuesday. The firm’s 50 day moving average price is $131.05 and its two-hundred day moving average price is $118.49. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.85 and a current ratio of 1.26. The stock has a market cap of $11.07 billion, a PE ratio of 20.65, a PEG ratio of 4.59 and a beta of 1.14. Allegion has a 52-week low of $95.94 and a 52-week high of $136.91.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The firm had revenue of $897.40 million for the quarter, compared to analysts’ expectations of $904.17 million. During the same period last year, the firm earned $1.60 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB raised its holdings in shares of Allegion by 1.8% in the fourth quarter. Nordea Investment Management AB now owns 1,310,495 shares of the scientific and technical instruments company’s stock valued at $165,516,000 after purchasing an additional 23,155 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Allegion by 214.1% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 242,313 shares of the scientific and technical instruments company’s stock worth $30,699,000 after purchasing an additional 165,165 shares during the period. Dark Forest Capital Management LP boosted its position in Allegion by 39.7% during the third quarter. Dark Forest Capital Management LP now owns 33,364 shares of the scientific and technical instruments company’s stock worth $3,477,000 after purchasing an additional 9,476 shares during the period. Spire Wealth Management boosted its position in Allegion by 41.2% during the third quarter. Spire Wealth Management now owns 35,196 shares of the scientific and technical instruments company’s stock worth $3,667,000 after purchasing an additional 10,272 shares during the period. Finally, Morningstar Investment Services LLC boosted its position in shares of Allegion by 7.9% in the third quarter. Morningstar Investment Services LLC now owns 105,262 shares of the scientific and technical instruments company’s stock valued at $10,975,000 after acquiring an additional 7,678 shares during the period. 92.21% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO John H. Stone bought 10,000 shares of Allegion stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the acquisition, the chief executive officer now owns 104,248 shares of the company’s stock, valued at approximately $13,803,477.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Timothy P. Eckersley sold 5,047 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $129.99, for a total transaction of $656,059.53. Following the completion of the transaction, the vice president now directly owns 35,567 shares in the company, valued at approximately $4,623,354.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John H. Stone bought 10,000 shares of Allegion stock in a transaction on Thursday, February 22nd. The shares were acquired at an average cost of $132.41 per share, for a total transaction of $1,324,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 104,248 shares in the company, valued at $13,803,477.68. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion’s dividend payout ratio (DPR) is presently 31.37%.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.