Allegion plc (NYSE:ALLE) Expected to Post Q2 2024 Earnings of $1.72 Per Share

Allegion plc (NYSE:ALLE) – Zacks Research upped their Q2 2024 EPS estimates for Allegion in a report released on Monday, April 15th. Zacks Research analyst R. Department now forecasts that the scientific and technical instruments company will earn $1.72 per share for the quarter, up from their prior forecast of $1.71. The consensus estimate for Allegion’s current full-year earnings is $7.01 per share. Zacks Research also issued estimates for Allegion’s Q4 2024 earnings at $1.81 EPS.

A number of other equities analysts have also weighed in on the stock. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Barclays increased their price objective on shares of Allegion from $121.00 to $122.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company lowered shares of Allegion from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $139.00 to $140.00 in a research report on Wednesday, February 21st. Finally, Mizuho lowered shares of Allegion from a “buy” rating to a “neutral” rating and increased their price objective for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Allegion currently has a consensus rating of “Hold” and an average target price of $127.00.

Allegion Price Performance

Shares of NYSE:ALLE opened at $126.94 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.85 and a current ratio of 1.26. The firm has a fifty day moving average price of $131.03 and a 200 day moving average price of $118.33. Allegion has a fifty-two week low of $95.94 and a fifty-two week high of $136.91. The firm has a market cap of $11.11 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 4.59 and a beta of 1.14.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $897.40 million during the quarter, compared to analysts’ expectations of $904.17 million. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 earnings per share.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.51%. The ex-dividend date is Friday, June 14th. Allegion’s dividend payout ratio is presently 31.37%.

Insider Buying and Selling

In related news, VP Timothy P. Eckersley sold 5,047 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the transaction, the vice president now owns 35,567 shares of the company’s stock, valued at approximately $4,623,354.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Allegion news, CEO John H. Stone bought 10,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were acquired at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the transaction, the chief executive officer now owns 104,248 shares of the company’s stock, valued at approximately $13,803,477.68. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Timothy P. Eckersley sold 5,047 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $129.99, for a total transaction of $656,059.53. Following the transaction, the vice president now directly owns 35,567 shares in the company, valued at approximately $4,623,354.33. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Compass Wealth Management LLC acquired a new stake in Allegion in the 4th quarter worth approximately $25,000. CVA Family Office LLC purchased a new stake in shares of Allegion during the fourth quarter worth $28,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Allegion by 19.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 3,823 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Allegion by 123.1% during the second quarter. Benjamin Edwards Inc. now owns 261 shares of the scientific and technical instruments company’s stock worth $31,000 after buying an additional 144 shares in the last quarter. Finally, Ancora Advisors LLC grew its holdings in shares of Allegion by 153.3% during the third quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.