FY2024 EPS Estimates for Allegion Boosted by Zacks Research

Allegion plc (NYSE:ALLE) – Research analysts at Zacks Research lifted their FY2024 earnings per share estimates for Allegion in a research note issued on Thursday, November 14th. Zacks Research analyst R. Department now anticipates that the scientific and technical instruments company will post earnings per share of $7.36 for the year, up from their previous estimate 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 research firms have also commented on ALLE. Robert W. Baird lifted their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Barclays upped their price objective on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Wells Fargo & Company raised their target price on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Mizuho lifted their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $144.60.

Allegion Price Performance

ALLE stock opened at $139.76 on Monday. The business has a 50 day simple moving average of $143.80 and a 200-day simple moving average of $131.73. The firm has a market capitalization of $12.15 billion, a PE ratio of 21.47, a price-to-earnings-growth 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 has a 1 year low of $103.19 and a 1 year high of $156.10.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $970.70 million. During the same period last year, the firm posted $1.94 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year.

Institutional Investors Weigh In On Allegion

Several hedge funds have recently made changes to their positions in ALLE. McClarren Financial Advisors Inc. increased its holdings in shares of Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 72 shares during the period. Greenwich Wealth Management LLC lifted its holdings in shares of Allegion by 0.5% in the 2nd quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock valued at $1,761,000 after buying an additional 79 shares during the period. OneDigital Investment Advisors LLC boosted its stake in shares of Allegion by 2.9% in the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock valued at $425,000 after buying an additional 82 shares in the last quarter. Thrive Wealth Management LLC grew its holdings in Allegion by 5.0% during the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock worth $269,000 after acquiring an additional 88 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in Allegion by 3.6% in the second quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company’s stock worth $310,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Activity at Allegion

In related news, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the sale, the senior vice president now owns 7,104 shares in the company, valued at $1,029,511.68. This represents a 53.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Allegion Announces Dividend

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

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.