Q2 2024 EPS Estimates for Allegion plc (NYSE:ALLE) Increased by Analyst

Allegion plc (NYSE:ALLE) – Zacks Research increased their Q2 2024 earnings estimates for shares of Allegion in a note issued to investors on Monday, April 15th. Zacks Research analyst R. Department now forecasts that the scientific and technical instruments company will earn $1.72 per share for the quarter, up from their prior 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.

Allegion (NYSE:ALLE) last posted its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, topping 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 company had revenue of $897.40 million for the quarter, compared to analyst estimates of $904.17 million. During the same quarter in the prior year, the business posted $1.60 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year.

ALLE has been the subject of a number of other reports. Barclays increased their target price on shares of Allegion from $121.00 to $122.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company downgraded 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 downgraded shares of Allegion from a “buy” rating to a “neutral” rating and raised their price target for the company from $140.00 to $141.00 in a report on Friday, February 23rd. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Finally, UBS Group raised their price target on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $127.83.

Allegion Trading Down 0.4 %

NYSE:ALLE opened at $126.39 on Tuesday. 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 firm has a market cap of $11.07 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth 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. The firm has a 50-day moving average price of $131.05 and a two-hundred day moving average price of $118.49.

Hedge Funds Weigh In On Allegion

A number of institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its stake in Allegion by 1.8% in the 4th quarter. Captrust Financial Advisors now owns 4,601 shares of the scientific and technical instruments company’s stock worth $484,000 after purchasing an additional 83 shares in the last quarter. Horizon Investments LLC raised its holdings in shares of Allegion by 7.1% during the 2nd quarter. Horizon Investments LLC now owns 1,414 shares of the scientific and technical instruments company’s stock worth $170,000 after acquiring an additional 94 shares in the last quarter. Schechter Investment Advisors LLC raised its holdings in shares of Allegion by 3.9% during the 4th quarter. Schechter Investment Advisors LLC now owns 2,554 shares of the scientific and technical instruments company’s stock worth $324,000 after acquiring an additional 97 shares in the last quarter. Huntington National Bank raised its holdings in shares of Allegion by 19.5% during the 3rd quarter. Huntington National Bank now owns 638 shares of the scientific and technical instruments company’s stock worth $66,000 after acquiring an additional 104 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Allegion by 11.8% during the 4th quarter. Allworth Financial LP now owns 982 shares of the scientific and technical instruments company’s stock worth $124,000 after acquiring an additional 104 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Insider Activity

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

Allegion Dividend Announcement

The business also recently announced 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. The ex-dividend date is Thursday, June 13th. This represents a $1.92 annualized dividend and a dividend yield of 1.52%. Allegion’s dividend payout ratio is 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.