Allegion PLC (NYSE:ALLE) Declares $0.51 Quarterly Dividend

by · The Markets Daily

Allegion PLC (NYSE:ALLE – Get Free Report) announced a quarterly dividend on Wednesday, December 3rd. Investors of record on Tuesday, December 16th will be paid a dividend of 0.51 per share by the scientific and technical instruments company on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, December 16th.

Allegion has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 11 years. Allegion has a dividend payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Allegion to earn $7.97 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 25.6%.

Allegion Price Performance

ALLE stock traded down $3.16 during mid-day trading on Thursday, hitting $160.87. The stock had a trading volume of 1,073,069 shares, compared to its average volume of 932,909. Allegion has a 52 week low of $116.57 and a 52 week high of $180.68. The firm has a market capitalization of $13.84 billion, a P/E ratio of 21.77, a P/E/G ratio of 3.21 and a beta of 1.03. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $169.68 and a 200 day simple moving average of $161.03.

Allegion (NYSE:ALLE – Get Free Report) last issued its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. Allegion had a return on equity of 40.83% and a net margin of 16.09%.The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the business posted $2.16 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, research analysts forecast that Allegion will post 7.77 EPS for the current year.

Analyst Ratings Changes

ALLE has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. Robert W. Baird increased their price objective on Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. The Goldman Sachs Group raised their target price on Allegion from $176.00 to $198.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Barclays lifted their target price on Allegion from $185.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Finally, Wells Fargo & Company increased their price target on Allegion from $175.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $176.38.

Check Out Our Latest Stock Report on Allegion

About Allegion

(Get Free Report)

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.

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