Allegion plc Expected to Post Q2 2024 Earnings of $1.72 Per Share (NYSE:ALLE)

Allegion plc (NYSE:ALLE) – Zacks Research boosted their Q2 2024 earnings per share (EPS) estimates for Allegion in a report released 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 previous 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 issued its quarterly earnings data on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. The firm had revenue of $897.40 million during the quarter, compared to analysts’ expectations of $904.17 million. Allegion had a return on equity of 51.95% and a net margin of 14.80%. Allegion’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.60 earnings per share.

A number of other analysts have also recently commented on the company. UBS Group lifted their price objective on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wells Fargo & Company cut Allegion from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $139.00 to $140.00 in a report on Wednesday, February 21st. Barclays increased their price objective on shares of Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Finally, Mizuho lowered shares of Allegion from a “buy” rating to a “neutral” rating and upped their price target for the stock from $140.00 to $141.00 in a research report on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $127.83.

Allegion Trading Down 0.5 %

Shares of ALLE opened at $125.78 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $131.06 and a 200-day simple moving average of $118.65. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 4.57 and a beta of 1.14. Allegion has a 1-year low of $95.94 and a 1-year high of $136.91.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion’s dividend payout ratio (DPR) is presently 31.37%.

Insider Activity at Allegion

In other news, VP Timothy P. Eckersley sold 5,047 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the transaction, the vice president now owns 35,567 shares of the company’s stock, valued at approximately $4,623,354.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO John H. Stone purchased 10,000 shares of Allegion stock in a transaction that occurred on Thursday, February 22nd. The shares were purchased 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 of the company’s stock, valued at approximately $13,803,477.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Timothy P. Eckersley sold 5,047 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $129.99, for a total value of $656,059.53. Following the completion of the transaction, the vice president now owns 35,567 shares of the company’s stock, valued at approximately $4,623,354.33. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors grew its stake in Allegion by 1.8% during the 4th quarter. Captrust Financial Advisors now owns 4,601 shares of the scientific and technical instruments company’s stock valued at $484,000 after purchasing an additional 83 shares in the last quarter. Horizon Investments LLC boosted its stake in 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 valued at $170,000 after acquiring an additional 94 shares during the last quarter. Schechter Investment Advisors LLC grew its holdings in 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 increased its position in shares of Allegion by 19.5% in the 3rd quarter. Huntington National Bank now owns 638 shares of the scientific and technical instruments company’s stock worth $66,000 after purchasing an additional 104 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of Allegion by 11.8% in the 4th quarter. Allworth Financial LP now owns 982 shares of the scientific and technical instruments company’s stock valued at $124,000 after purchasing an additional 104 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.