Allegion plc (NYSE:ALLE) Declares Quarterly Dividend of $0.48

Allegion plc (NYSE:ALLE) declared a quarterly dividend on Thursday, September 5th, RTT News reports. Shareholders of record on Friday, September 20th will be given a dividend of 0.48 per share by the scientific and technical instruments company on Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a yield of 1.42%.

Allegion has increased its dividend payment by an average of 12.0% per year over the last three years. Allegion has a payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Allegion to earn $7.55 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 25.4%.

Allegion Price Performance

Shares of NYSE ALLE traded down $1.75 during mid-day trading on Thursday, hitting $135.60. 460,960 shares of the stock were exchanged, compared to its average volume of 692,913. The company has a market cap of $11.86 billion, a P/E ratio of 22.23, a PEG ratio of 4.26 and a beta of 1.12. Allegion has a twelve month low of $95.94 and a twelve month high of $141.99. The stock’s fifty day simple moving average is $128.50 and its two-hundred day simple moving average is $126.79. 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 (NYSE:ALLE) last announced its earnings results 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 return on equity of 47.21% and a net margin of 15.08%. The company had revenue of $965.60 million for the quarter, compared to analysts’ expectations of $953.63 million. During the same quarter in the prior year, the business earned $1.76 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts forecast that Allegion will post 7.26 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.