Zacks Research Has Positive View of Allegion FY2024 Earnings

Allegion plc (NYSE:ALLE) – Research analysts at Zacks Research upped their FY2024 EPS estimates for shares of Allegion in a note issued to investors on Thursday, November 14th. Zacks Research analyst R. Department now forecasts that the scientific and technical instruments company will post earnings of $7.36 per share for the year, up from their previous 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) last posted its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. The firm had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.94 earnings per share.

A number of other brokerages also recently commented on ALLE. Mizuho raised their target price on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised their price objective on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Robert W. Baird increased their target price on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Barclays raised their target price on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $144.60.

Allegion Trading Down 0.4 %

NYSE ALLE opened at $138.13 on Monday. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 3.33 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion has a one year low of $103.19 and a one year high of $156.10. The company’s 50 day moving average price is $143.88 and its 200 day moving average price is $131.92.

Hedge Funds Weigh In On Allegion

Several large investors have recently modified their holdings of the stock. McClarren Financial Advisors Inc. raised its stake in Allegion by 61.0% during 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 buying an additional 72 shares in the last quarter. Brooklyn Investment Group bought a new position in Allegion during the third quarter worth $28,000. Crewe Advisors LLC boosted its holdings in Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 149 shares during the period. Concord Wealth Partners bought a new stake in Allegion during the third quarter valued at $29,000. Finally, Cromwell Holdings LLC increased its stake in 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 purchasing an additional 92 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling 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 sale, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by corporate insiders.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.39%. Allegion’s dividend payout ratio (DPR) is presently 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.