Allegion plc Announces Quarterly Dividend of $0.45 (NYSE:ALLE)
Allegion plc (NYSE:ALLE – Get Free Report) announced a quarterly dividend on Thursday, December 7th, RTT News reports. Shareholders of record on Monday, December 18th will be paid a dividend of 0.45 per share by the scientific and technical instruments company on Friday, December 29th. This represents a $1.80 annualized dividend and a yield of 1.71%.
Allegion has raised its dividend by an average of 14.9% annually over the last three years and has increased its dividend every year for the last 9 years. Allegion has a dividend payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Allegion to earn $6.85 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 26.3%.
Allegion Stock Performance
Allegion stock traded down $0.04 during mid-day trading on Thursday, hitting $105.09. 729,881 shares of the company’s stock traded hands, compared to its average volume of 760,889. The firm has a 50 day moving average price of $102.87 and a 200 day moving average price of $109.49. The company has a quick ratio of 1.31, a current ratio of 2.03 and a debt-to-equity ratio of 1.63. The company has a market cap of $9.23 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 2.68 and a beta of 1.12. Allegion has a one year low of $95.94 and a one year high of $128.36.
Allegion (NYSE:ALLE – Get Free Report) last announced its earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.21. The firm had revenue of $917.90 million for the quarter, compared to the consensus estimate of $908.93 million. Allegion had a return on equity of 55.71% and a net margin of 15.41%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 EPS. On average, equities analysts forecast that Allegion will post 6.85 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of ALLE. BlackRock Inc. grew its holdings in shares of Allegion by 15.8% during the first quarter. BlackRock Inc. now owns 8,631,077 shares of the scientific and technical instruments company’s stock valued at $921,195,000 after buying an additional 1,176,087 shares in the last quarter. Norges Bank purchased a new position in shares of Allegion during the fourth quarter valued at $76,640,000. Renaissance Technologies LLC grew its holdings in shares of Allegion by 96.6% during the first quarter. Renaissance Technologies LLC now owns 616,605 shares of the scientific and technical instruments company’s stock valued at $65,810,000 after buying an additional 303,005 shares in the last quarter. State of Tennessee Treasury Department grew its holdings in shares of Allegion by 1,033.1% during the second quarter. State of Tennessee Treasury Department now owns 321,600 shares of the scientific and technical instruments company’s stock valued at $38,598,000 after buying an additional 293,217 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Allegion by 475.5% during the first quarter. Cubist Systematic Strategies LLC now owns 336,348 shares of the scientific and technical instruments company’s stock valued at $35,898,000 after buying an additional 277,904 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently commented on ALLE shares. StockNews.com started coverage on Allegion in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Wells Fargo & Company dropped their price objective on Allegion from $130.00 to $120.00 in a research note on Monday, October 9th. Vertical Research lowered Allegion from a “buy” rating to a “hold” rating and cut their target price for the stock from $128.00 to $100.00 in a research report on Thursday, October 19th. Barclays lowered Allegion from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $130.00 to $119.00 in a research report on Monday. Finally, Longbow Research lowered Allegion from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 6th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Allegion has a consensus rating of “Hold” and an average target price of $119.57.
Allegion Company Profile (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.
Further Reading
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Original: MarketBeat News Feed: Allegion plc Announces Quarterly Dividend of $0.45 (NYSE:ALLE)