FY2024 EPS Estimates for Allegion Raised by Zacks Research

Allegion plc (NYSE:ALLE) – Equities researchers at Zacks Research boosted their FY2024 EPS estimates for shares of Allegion in a note issued to investors on Thursday, February 6th. Zacks Research analyst R. Department now forecasts that the scientific and technical instruments company will post earnings of $7.38 per share for the year, up from their previous estimate of $7.36. 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 $1.71 EPS, Q2 2025 earnings at $1.84 EPS, Q3 2025 earnings at $2.03 EPS, FY2025 earnings at $7.56 EPS, Q2 2026 earnings at $1.88 EPS, Q3 2026 earnings at $1.98 EPS and FY2026 earnings at $7.40 EPS.

A number of other brokerages have also recently commented on ALLE. Mizuho increased their price target on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley initiated coverage on Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price target on the stock. Robert W. Baird raised their price objective on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Barclays reduced their target price on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $140.83.

Allegion Stock Performance

Shares of Allegion stock opened at $130.53 on Monday. The company’s 50 day moving average price is $133.15 and its two-hundred day moving average price is $137.57. The firm has a market capitalization of $11.35 billion, a P/E ratio of 20.05, a P/E/G ratio of 3.19 and a beta of 1.11. Allegion has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

Institutional Investors Weigh In On Allegion

A number of hedge funds have recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. boosted its position in shares of Allegion by 61.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 72 shares in the last quarter. Brooklyn Investment Group bought a new position in Allegion in the third quarter worth approximately $28,000. Concord Wealth Partners acquired a new stake in Allegion in the third quarter valued at approximately $29,000. Cromwell Holdings LLC increased its holdings in shares of Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 92 shares in the last quarter. Finally, Atala Financial Inc acquired a new position in shares of Allegion during the fourth quarter worth approximately $35,000. 92.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Allegion

In other Allegion news, CEO John H. Stone bought 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Allegion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.56%. Allegion’s dividend payout ratio is presently 31.34%.

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.