FY2024 EPS Estimates for Allegion Raised by Zacks Research

Allegion plc (NYSE:ALLE) – Zacks Research increased their FY2024 earnings per share (EPS) estimates for Allegion in a research report issued to clients and investors on Thursday, November 14th. Zacks Research analyst R. Department now expects that the scientific and technical instruments company will earn $7.36 per share for the year, up from their previous forecast of $7.30. The consensus estimate for Allegion’s current full-year earnings is $7.41 per share. Zacks Research also issued estimates for Allegion’s Q4 2024 earnings at $1.69 EPS, Q4 2025 earnings at $2.04 EPS, FY2025 earnings at $7.48 EPS, Q1 2026 earnings at $1.61 EPS and Q3 2026 earnings at $1.96 EPS.

A number of other equities analysts also recently issued reports on the company. Robert W. Baird raised their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Wells Fargo & Company raised their price objective on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Barclays raised their target price on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research note on Monday, October 28th. Finally, Mizuho lifted their target price on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have given 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 a consensus price target of $144.60.

Allegion Stock Down 1.1 %

ALLE stock opened at $139.76 on Monday. Allegion has a 1-year low of $103.19 and a 1-year high of $156.10. The business has a fifty day moving average price of $143.80 and a 200-day moving average price of $131.73. The stock has a market capitalization of $12.15 billion, a P/E ratio of 21.47, a P/E/G ratio of 3.31 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same quarter in the previous year, the firm posted $1.94 earnings per share. Allegion’s quarterly revenue was up 5.4% on a year-over-year basis.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a $0.48 dividend. The ex-dividend date was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.37%. Allegion’s dividend payout ratio (DPR) is presently 29.49%.

Insider Activity

In other news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the sale, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Several institutional investors and hedge funds have recently modified their holdings of ALLE. Geode Capital Management LLC raised its position in Allegion by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock valued at $306,699,000 after purchasing an additional 8,023 shares in the last quarter. Foyston Gordon & Payne Inc boosted its stake in shares of Allegion by 8.0% during the third quarter. Foyston Gordon & Payne Inc now owns 64,655 shares of the scientific and technical instruments company’s stock valued at $9,423,000 after purchasing an additional 4,762 shares in the last quarter. M&T Bank Corp raised its stake in Allegion by 1.1% in the third quarter. M&T Bank Corp now owns 15,906 shares of the scientific and technical instruments company’s stock worth $2,318,000 after buying an additional 167 shares in the last quarter. Barclays PLC boosted its position in Allegion by 28.9% during the 3rd quarter. Barclays PLC now owns 259,793 shares of the scientific and technical instruments company’s stock valued at $37,861,000 after acquiring an additional 58,268 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Allegion during the third quarter worth $4,988,000. Institutional investors own 92.21% of the company’s stock.

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.