In yesterday’s Wall Street session, Allegion plc (NYSE:ALLE) shares traded at $110.96, down -1.62% from the previous session.
As of this writing, 15 analysts cover Allegion plc (NYSE:ALLE). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $130.00 and a low of $95.00, we find $122.00. Given the previous closing price of $112.79, this indicates a potential upside of 8.17 percent. ALLE stock price is now 1.18% away from the 50-day moving average and 6.38% away from the 200-day moving average. The market capitalization of the company currently stands at $9.73B.
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There are 6 analysts who have given it a hold rating, whereas 5 have given it a buy rating. Brokers who have rated the stock have averaged $119.42 as their price target over the next twelve months.
With the price target maintained at $128, Vertical Research recently Upgraded its rating from Hold to Buy for Allegion plc (NYSE: ALLE). On July 11, 2022, BofA Securities Downgraded its previous ‘Neutral’ rating to ‘Underperform’ on the stock keeping its target price maintained at $110, while ‘Wells Fargo’ rates the stock as ‘Overweight’.
In other news, Braun Jeffrey N, SVP, GC and Secretary sold 1,354 shares of the company’s stock on Nov 22. The stock was sold for $153,771 at an average price of $113.57. Upon completion of the transaction, the SVP, GC and Secretary now directly owns 11,634 shares in the company, valued at $1.29 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 28, President and CEO Stone John H bought 12,500 shares of the business’s stock. A total of $1,305,612 was incurred on buying the stock at an average price of $104.45. This leaves the insider owning 64,535 shares of the company worth $7.16 million. Insiders disposed of 28,467 shares of company stock worth roughly $3.16 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ALLE stock. A new stake in Allegion plc shares was purchased by ADAGE CAPITAL PARTNERS GP, L.L.C. during the first quarter worth $48,764,000. DEPRINCE RACE & ZOLLO INC invested $26,628,000 in shares of ALLE during the first quarter. In the first quarter, SELECT EQUITY GROUP, L.P. acquired a new stake in Allegion plc valued at approximately $22,690,000. J. GOLDMAN & CO LP acquired a new stake in ALLE for approximately $20,051,000. MOORE CAPITAL MANAGEMENT, LP purchased a new stake in ALLE valued at around $9,579,000 in the second quarter. In total, there are 789 active investors with 97.60% ownership of the company’s stock.
Wednesday morning saw Allegion plc (NYSE: ALLE) opened at $113.13. During the past 12 months, Allegion plc has had a low of $87.33 and a high of $125.39. As of last week, the company has a debt-to-equity ratio of 2.81, a current ratio of 1.80, and a quick ratio of 1.10. The fifty day moving average price for ALLE is $109.67 and a two-hundred day moving average price translates $104.31 for the stock.
The latest earnings results from Allegion plc (NYSE: ALLE) was released for Sep, 2022. According to the Security & Protection Services Company, earnings per share came in at $1.64, beating analysts’ expectations of $1.47 by 0.17. This compares to $1.59 EPS in the same period last year. The net profit margin was 14.00% and return on equity was 56.80% for ALLE. The company reported revenue of $913.7 million for the quarter, compared to $717.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 27.43 percent. For the current quarter, analysts expect ALLE to generate $851.29M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/30/2022. Investors who held shares on 12/16/2022 were paid a $0.41 dividend. On an annualized basis, this represents a $1.64 dividend and a 1.48% percent yield. There was an ex-dividend date of 12/15/2022 for this dividend. In terms of dividend payout ratio, ALLE is presently at 32.20%.
Allegion plc(ALLE) Company Profile
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, 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 and door systems; and other accessories. The company sells its products and solutions to end-users in commercial, institutional, and residential facilities, including education, healthcare, government, hospitality, commercial office, and single and multi-family residential markets under the CISA, Interflex, LCN, Schlage, SimonsVoss, and Von Duprin brands. It sells its products and solutions through distribution and retail channels, such as specialty distribution, e-commerce, and wholesalers, as well as through various retail channels comprising do-it-yourself home improvement centers, on-line and e-commerce platforms, and small specialty showroom outlets. Allegion plc was incorporated in 2013 and is headquartered in Dublin, Ireland.
