Allegion PLC (NYSE:ALLE) Given Consensus Recommendation of “Hold” by Brokerages

Allegion PLC (NYSE:ALLE) has received a consensus recommendation of “Hold” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $175.1250.

Several analysts have recently commented on the stock. Wells Fargo & Company reiterated a “positive” rating on shares of Allegion in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. Robert W. Baird raised their price target on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Barclays boosted their price target on Allegion from $185.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Finally, The Goldman Sachs Group increased their price objective on Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th.

Hedge Funds Weigh In On Allegion

Several institutional investors and hedge funds have recently modified their holdings of ALLE. OMERS ADMINISTRATION Corp boosted its position in Allegion by 32.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 13,819 shares of the scientific and technical instruments company’s stock worth $1,803,000 after acquiring an additional 3,358 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Allegion during the first quarter worth $10,014,000. Canada Pension Plan Investment Board boosted its holdings in shares of Allegion by 6.2% during the first quarter. Canada Pension Plan Investment Board now owns 14,950 shares of the scientific and technical instruments company’s stock worth $1,950,000 after purchasing an additional 877 shares during the last quarter. Mubadala Investment Co PJSC acquired a new stake in shares of Allegion during the first quarter worth $3,920,000. Finally, DRW Securities LLC purchased a new stake in shares of Allegion in the first quarter valued at $202,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 0.0%

NYSE:ALLE opened at $160.88 on Friday. The company has a market capitalization of $13.84 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 1.06. Allegion has a 52-week low of $116.57 and a 52-week high of $180.68. The stock has a fifty day simple moving average of $164.36 and a 200-day simple moving average of $163.33.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. Allegion had a net margin of 16.09% and a return on equity of 40.83%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the company earned $2.16 EPS. The firm’s revenue was up 10.7% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. On average, equities research analysts expect that Allegion will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, December 16th. Allegion’s dividend payout ratio is 27.60%.

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.