Allegion plc (NYSE:ALLE) to Issue Quarterly Dividend of $0.48

Allegion plc (NYSE:ALLE) announced a quarterly dividend on Thursday, September 5th, RTT News reports. Shareholders of record on Friday, September 20th will be paid a dividend of 0.48 per share by the scientific and technical instruments company on Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, September 20th.

Allegion has raised its dividend payment by an average of 12.0% annually over the last three years. Allegion has a payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Allegion to earn $7.55 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 25.4%.

Allegion Price Performance

Shares of ALLE stock opened at $143.39 on Thursday. The business has a fifty day simple moving average of $133.07 and a 200 day simple moving average of $127.44. The company has a market cap of $12.54 billion, a P/E ratio of 23.39, a P/E/G ratio of 4.21 and a beta of 1.12. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. Allegion has a twelve month low of $95.94 and a twelve month high of $146.41.

Allegion (NYSE:ALLE) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $965.60 million during the quarter, compared to analysts’ expectations of $953.63 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.76 earnings per share. On average, sell-side analysts forecast that Allegion will post 7.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Wells Fargo & Company upped their target price on Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Barclays increased their target price on Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $125.40.

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.