Allegion plc (NYSE:ALLE) declared a quarterly dividend on Wednesday, September 1st, RTT News reports. Stockholders of record on Thursday, September 16th will be given a dividend of 0.36 per share by the scientific and technical instruments company on Thursday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, September 15th.
Allegion has raised its dividend payment by 100.0% over the last three years. Allegion has a payout ratio of 26.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Allegion to earn $5.96 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 24.2%.
Allegion stock opened at $142.27 on Tuesday. Allegion has a twelve month low of $94.01 and a twelve month high of $148.70. The company has a 50 day moving average of $139.55 and a 200-day moving average of $134.64. The stock has a market capitalization of $12.76 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 3.85 and a beta of 1.19. The company has a quick ratio of 1.48, a current ratio of 2.03 and a debt-to-equity ratio of 1.82.
Several analysts have issued reports on ALLE shares. Morgan Stanley upped their price target on shares of Allegion from $149.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Friday, July 23rd. Zacks Investment Research raised shares of Allegion from a “hold” rating to a “buy” rating and set a $149.00 price target on the stock in a research report on Monday, August 30th. The Goldman Sachs Group raised shares of Allegion from a “neutral” rating to a “buy” rating and upped their price target for the stock from $158.00 to $174.00 in a research report on Friday. Credit Suisse Group upped their price target on shares of Allegion from $143.00 to $144.00 and gave the stock a “neutral” rating in a research report on Friday, July 23rd. Finally, Barclays set a $138.67 price target on shares of Allegion and gave the stock an “overweight” rating in a research report on Friday, July 23rd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $140.52.
In related news, CEO David D. Petratis sold 2,841 shares of the firm’s stock in a transaction dated Wednesday, August 25th. The shares were sold at an average price of $141.29, for a total transaction of $401,404.89. Following the transaction, the chief executive officer now directly owns 146,454 shares of the company’s stock, valued at $20,692,485.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 11,364 shares of company stock worth $1,587,125. 0.46% of the stock is owned by insiders.
A hedge fund recently raised its stake in Allegion stock. Morgan Stanley grew its stake in Allegion plc (NYSE:ALLE) by 282.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 306,209 shares of the scientific and technical instruments company’s stock after purchasing an additional 226,116 shares during the period. Morgan Stanley owned about 0.34% of Allegion worth $42,655,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 88.73% of the company’s stock.
Allegion Plc provides security products and solutions that keep people safe, secure and productiv. It operates through the following three geographic segments: Americas; Middle East, India, and Africa (EMEIA); and Asia Pacific. The Americas segment sells a range of products and solutions such locks, locksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products, and access control and time and attendance systems.
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