Equities Analysts Offer Predictions for Allegion plc’s Q3 2024 Earnings (NYSE:ALLE)

Allegion plc (NYSE:ALLE) – Research analysts at Zacks Research raised their Q3 2024 earnings estimates for Allegion in a research note issued to investors on Wednesday, August 14th. Zacks Research analyst R. Department now forecasts that the scientific and technical instruments company will post earnings per share of $1.90 for the quarter, up from their prior forecast of $1.89. The consensus estimate for Allegion’s current full-year earnings is $7.22 per share. Zacks Research also issued estimates for Allegion’s FY2024 earnings at $7.30 EPS, Q3 2025 earnings at $1.95 EPS, Q4 2025 earnings at $1.98 EPS and FY2025 earnings at $7.38 EPS.

Other research analysts have also issued research reports about the company. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Wells Fargo & Company boosted their price objective on shares of Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Finally, Barclays increased their target price on shares of Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $125.40.

Allegion Stock Performance

NYSE:ALLE opened at $131.27 on Friday. The business’s fifty day moving average is $123.47 and its 200 day moving average is $126.14. The firm has a market cap of $11.48 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 4.08 and a beta of 1.13. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. Allegion has a 52-week low of $95.94 and a 52-week high of $141.99.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The company had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. During the same period last year, the firm earned $1.76 EPS. Allegion’s revenue for the quarter was up 5.8% on a year-over-year basis.

Hedge Funds Weigh In On Allegion

Large investors have recently modified their holdings of the company. Crewe Advisors LLC grew its holdings in shares of Allegion by 160.2% during the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake 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 valued at $30,000 after buying an additional 3,823 shares during the last quarter. Gradient Investments LLC bought a new position in shares of Allegion during the second quarter valued at about $38,000. Blue Trust Inc. increased its holdings in shares of Allegion by 54.0% in the second quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after buying an additional 121 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Allegion by 255.7% in the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 225 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allegion

In other news, SVP Tracy L. Kemp sold 2,194 shares of Allegion stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the sale, the senior vice president now directly owns 11,103 shares of the company’s stock, valued at approximately $1,354,343.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

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.