Zacks Research Has Positive View of Allegion FY2024 Earnings

Allegion plc (NYSE:ALLE - Free Report) - Investment analysts at Zacks Research increased their FY2024 EPS estimates for shares of Allegion in a research note issued on Thursday, November 14th. Zacks Research analyst R. Department now expects that the scientific and technical instruments company will post earnings of $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.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping 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 company had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. During the same period in the prior year, the firm posted $1.94 EPS. The firm's quarterly revenue was up 5.4% compared to the same quarter last year.

ALLE has been the subject of several other research reports. 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 research report on Monday, October 7th. Robert W. Baird raised their price objective on Allegion from $145.00 to $152.00 and gave the company a "neutral" rating in a research note 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 research report on Monday, October 28th. Finally, Mizuho upped their target price on shares of Allegion from $135.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Allegion currently has an average rating of "Hold" and a consensus price target of $144.60.

Allegion Price Performance

Shares of ALLE stock traded down $1.12 on Monday, hitting $138.64. 619,046 shares of the stock traded hands, compared to its average volume of 723,962. 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 52 week low of $103.19 and a 52 week high of $156.10. The firm has a 50 day simple moving average of $143.80 and a two-hundred day simple moving average of $131.81. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 3.31 and a beta of 1.11.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.38%. Allegion's dividend payout ratio (DPR) is presently 29.49%.

Insider Transactions at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the firm'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 transaction, the senior vice president now owns 7,104 shares of the company's stock, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.

Institutional Trading of Allegion

Several large investors have recently added to or reduced their stakes in ALLE. McClarren Financial Advisors Inc. lifted its holdings in shares of Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company's stock valued at $27,000 after buying an additional 72 shares during the period. Brooklyn Investment Group purchased a new position in Allegion in the 3rd quarter worth approximately $28,000. Concord Wealth Partners acquired a new position in Allegion during the third quarter worth $29,000. Cromwell Holdings LLC boosted its position in shares of Allegion by 65.2% during the 3rd 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 during the last quarter. Finally, Crewe Advisors LLC boosted its holdings in Allegion by 160.2% in the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company's stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

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.