Equities Analysts Offer Predictions for Allegion plc’s Q1 2024 Earnings (NYSE:ALLE)

Allegion plc (NYSE:ALLE) – Equities researchers at Zacks Research decreased their Q1 2024 EPS estimates for shares of Allegion in a research report issued to clients and investors on Monday, April 15th. Zacks Research analyst R. Department now anticipates that the scientific and technical instruments company will post earnings of $1.58 per share for the quarter, down from their previous estimate of $1.59. The consensus estimate for Allegion’s current full-year earnings is $7.01 per share. Zacks Research also issued estimates for Allegion’s Q2 2025 earnings at $1.76 EPS, Q3 2025 earnings at $1.86 EPS, Q4 2025 earnings at $1.79 EPS and FY2025 earnings at $7.02 EPS.

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

Other analysts have also issued reports about the stock. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. UBS Group raised their target price on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays upped their price target on Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company cut 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 research report on Wednesday, February 21st. Finally, Mizuho lowered Allegion from a “buy” rating to a “neutral” rating and upped their target price for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Allegion currently has a consensus rating of “Hold” and an average price target of $127.83.

Allegion Price Performance

Shares of ALLE stock opened at $125.78 on Wednesday. The stock’s 50-day moving average is $131.06 and its 200 day moving average is $118.65. Allegion has a 1-year low of $95.94 and a 1-year high of $136.91. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85. The company has a market cap of $11.01 billion, a P/E ratio of 20.55, a PEG ratio of 4.57 and a beta of 1.14.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.92 annualized dividend and a yield of 1.53%. Allegion’s payout ratio is presently 31.37%.

Insider Activity

In other news, CEO John H. Stone bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the completion of the acquisition, the chief executive officer now directly 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 SEC, which is available through this link. In related news, CEO John H. Stone purchased 10,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were bought at an average cost of $132.41 per share, with a total value of $1,324,100.00. Following the transaction, the chief executive officer now owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert C. Martens sold 5,391 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total value of $716,140.44. Following the completion of the sale, the senior vice president now owns 7,555 shares in the company, valued at approximately $1,003,606.20. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Allegion

Large investors have recently made changes to their positions in the company. Compass Wealth Management LLC acquired a new stake in Allegion in the fourth quarter valued at approximately $25,000. CVA Family Office LLC acquired a new stake in Allegion in the 4th quarter valued at $28,000. Robeco Institutional Asset Management B.V. increased its holdings in Allegion by 19.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock worth $30,000 after acquiring an additional 3,823 shares in the last quarter. Benjamin Edwards Inc. raised its position in Allegion by 123.1% during the second quarter. Benjamin Edwards Inc. now owns 261 shares of the scientific and technical instruments company’s stock worth $31,000 after acquiring an additional 144 shares during the period. Finally, Ancora Advisors LLC lifted its holdings in Allegion by 153.3% during the third quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 230 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About Allegion

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.