Q1 2024 EPS Estimates for Allegion plc (NYSE:ALLE) Cut by Zacks Research

Allegion plc (NYSE:ALLE) – Equities research analysts at Zacks Research lowered their Q1 2024 earnings per share estimates for Allegion in a research note issued to investors on Monday, April 15th. Zacks Research analyst R. Department now forecasts that the scientific and technical instruments company will earn $1.58 per share for the quarter, down from their prior estimate of $1.59. The consensus estimate for Allegion’s current full-year earnings is $7.01 per share. Zacks Research also issued estimates for Allegion’s Q2 2025 earnings at $1.76 EPS, Q3 2025 earnings at $1.86 EPS, Q4 2025 earnings at $1.79 EPS and FY2025 earnings at $7.02 EPS.

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 for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $897.40 million for the quarter, compared to analyst estimates of $904.17 million. Allegion had a return on equity of 51.95% and a net margin of 14.80%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.60 earnings per share.

Several other analysts have also commented on ALLE. Barclays raised their target price on Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Mizuho lowered Allegion from a “buy” rating to a “neutral” rating and raised their price objective for the company from $140.00 to $141.00 in a report on Friday, February 23rd. UBS Group raised their price objective on Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Wells Fargo & Company lowered Allegion from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $139.00 to $140.00 in a report on Wednesday, February 21st. Six 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, Allegion presently has a consensus rating of “Hold” and an average target price of $127.83.

Allegion Stock Performance

Allegion stock traded down $0.60 during midday trading on Wednesday, hitting $125.78. 566,284 shares of the company were exchanged, compared to its average volume of 721,458. The firm has a market capitalization of $11.01 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 4.57 and a beta of 1.14. Allegion has a fifty-two week low of $95.94 and a fifty-two week high of $136.91. The business has a fifty day simple moving average of $131.06 and a two-hundred day simple moving average of $118.65. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.85 and a current ratio of 1.26.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.92 annualized dividend and a yield of 1.53%. Allegion’s dividend payout ratio (DPR) is presently 31.37%.

Insider Activity

In other Allegion news, CEO John H. Stone bought 10,000 shares of Allegion stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average cost of $132.41 per share, for a total transaction of $1,324,100.00. Following the completion of the transaction, the chief executive officer now directly owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Allegion news, CEO John H. Stone bought 10,000 shares of Allegion stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average cost of $132.41 per share, for a total transaction of $1,324,100.00. Following the completion of the transaction, the chief executive officer now directly owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Timothy P. Eckersley sold 5,047 shares of the 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 completion of the sale, the vice president now owns 35,567 shares of the company’s stock, valued at $4,623,354.33. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Allegion

A number of hedge funds have recently modified their holdings of ALLE. BlackRock Inc. grew its holdings in shares of Allegion by 15.8% in 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 purchasing an additional 1,176,087 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Allegion in the fourth quarter valued at about $120,959,000. Norges Bank purchased a new stake in shares of Allegion in the fourth quarter valued at about $110,740,000. Boston Partners grew its holdings in shares of Allegion by 17.2% in the third quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company’s stock valued at $584,157,000 after purchasing an additional 825,048 shares during the period. Finally, APG Asset Management US Inc. purchased a new stake in shares of Allegion in the fourth quarter valued at about $66,449,000. 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.