Allegion PLC (NYSE:ALLE) Receives Average Recommendation of “Hold” from Analysts

Allegion PLC (NYSE:ALLE) has received an average recommendation of “Hold” from the ten analysts that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $174.25.

ALLE has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Barclays lowered their target price on Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company reissued a “positive” rating on shares of Allegion in a research report on Tuesday, December 16th.

Institutional Investors Weigh In On Allegion

Hedge funds and other institutional investors have recently modified their holdings of the company. Westside Investment Management Inc. boosted its stake in Allegion by 100.0% in the third quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 70 shares in the last quarter. First Horizon Corp purchased a new stake in shares of Allegion in the 3rd quarter valued at about $26,000. Hantz Financial Services Inc. boosted its position in shares of Allegion by 120.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of Allegion in the 3rd quarter valued at about $29,000. Finally, Sound Income Strategies LLC purchased a new position in Allegion during the 2nd quarter worth approximately $32,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Trading Up 1.7%

NYSE ALLE opened at $165.84 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.77. The firm has a market cap of $14.27 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 2.98 and a beta of 1.04. The firm has a 50 day simple moving average of $161.95 and a 200-day simple moving average of $165.93. Allegion has a one year low of $116.57 and a one year high of $180.68.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $2.16 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts anticipate that Allegion will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, December 16th. Allegion’s 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.