Allegion plc (NYSE:ALLE) Increases Dividend to $0.51 Per Share

Allegion plc (NYSE:ALLE) declared a quarterly dividend on Thursday, February 6th, RTT News reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.51 per share by the scientific and technical instruments company on Monday, March 31st. This represents a $2.04 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Friday, March 14th. This is a 6.3% increase from Allegion’s previous quarterly dividend of $0.48.

Allegion has increased its dividend payment by an average of 10.1% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Allegion has a dividend payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Allegion to earn $7.97 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 25.6%.

Allegion Stock Performance

Shares of ALLE opened at $126.17 on Wednesday. The firm’s 50 day moving average is $129.96 and its 200-day moving average is $137.06. The stock has a market capitalization of $10.89 billion, a P/E ratio of 18.50, a P/E/G ratio of 3.97 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. Allegion has a 12-month low of $113.27 and a 12-month high of $156.10.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. Equities research analysts anticipate that Allegion will post 7.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gregg C. Sengstack purchased 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was acquired at an average cost of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the acquisition, the director now owns 8,000 shares in the company, valued at $1,001,920. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the sale, the chief accounting officer now owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ALLE shares. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Morgan Stanley lifted their target price on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their target price on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Robert W. Baird dropped their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, Barclays dropped their target price on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, Allegion currently has a consensus rating of “Hold” and an average target price of $138.33.

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.