Zacks Research Increases Earnings Estimates for Allegion

Allegion plc (NYSE:ALLE) – Equities researchers at Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of Allegion in a research note issued to investors on Thursday, November 14th. Zacks Research analyst R. Department now anticipates that the scientific and technical instruments company will earn $7.36 per share for the year, up from their prior 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.

Several other equities research analysts have also weighed in on ALLE. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Barclays upped their price target on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Robert W. Baird increased their price objective on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Mizuho boosted their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company increased their target price on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One equities research 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. According to data from MarketBeat, Allegion has a consensus rating of “Hold” and an average price target of $144.60.

Allegion Stock Performance

Shares of ALLE stock opened at $138.64 on Monday. The stock has a market cap of $12.05 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 3.31 and a beta of 1.11. The stock has a 50-day moving average of $143.80 and a 200-day moving average of $131.81. 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 has a one year low of $103.19 and a one year high of $156.10.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALLE. Boston Partners raised its holdings in shares of Allegion by 1.5% in the 1st quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock valued at $673,441,000 after purchasing an additional 72,773 shares during the period. State Street Corp increased its position in Allegion by 1.2% during the third quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after buying an additional 49,929 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Allegion by 2.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock valued at $442,019,000 after buying an additional 91,011 shares during the period. Van ECK Associates Corp lifted its position in shares of Allegion by 1.3% in the third quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock valued at $479,577,000 after buying an additional 39,905 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Allegion by 0.4% in the third 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 buying an additional 8,023 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at Allegion

In related 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 transaction, the senior vice president now directly owns 7,104 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Allegion Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.38%. Allegion’s dividend payout ratio (DPR) is presently 29.49%.

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.