Allegion (NYSE:ALLE) Hits New 52-Week High at $105.98

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Shares of Allegion PLC (NYSE:ALLE) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $105.98 and last traded at $105.40, with a volume of 13629 shares trading hands. The stock had previously closed at $105.54.

A number of research firms recently weighed in on ALLE. ValuEngine raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Zacks Investment Research raised shares of Allegion from a “sell” rating to a “hold” rating in a research note on Tuesday, February 19th. Imperial Capital reaffirmed an “in-line” rating and issued a $102.00 price objective (up from $96.00) on shares of Allegion in a research note on Monday, April 29th. Goldman Sachs Group lowered shares of Allegion from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $98.00 to $92.00 in a research note on Wednesday, February 20th. Finally, Morgan Stanley set a $92.00 price objective on shares of Allegion and gave the stock a “hold” rating in a research note on Wednesday, February 20th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $97.00.

The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 1.96 and a beta of 1.14. The company has a current ratio of 1.75, a quick ratio of 1.14 and a debt-to-equity ratio of 2.20.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, April 25th. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. Allegion had a net margin of 15.97% and a return on equity of 72.88%. The company had revenue of $655.00 million during the quarter, compared to analyst estimates of $654.66 million. During the same period in the prior year, the firm earned $0.80 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, analysts predict that Allegion PLC will post 4.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.03%. Allegion’s dividend payout ratio is presently 24.00%.

In other Allegion news, SVP Jeffrey M. Wood sold 5,357 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $99.17, for a total value of $531,253.69. Following the completion of the transaction, the senior vice president now directly owns 6,642 shares in the company, valued at $658,687.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.77% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc increased its holdings in shares of Allegion by 1.7% during the third quarter. Vanguard Group Inc now owns 9,963,751 shares of the scientific and technical instruments company’s stock valued at $902,417,000 after acquiring an additional 164,422 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Allegion by 7.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,212 shares of the scientific and technical instruments company’s stock valued at $1,213,000 after acquiring an additional 1,112 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Allegion by 9.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,553 shares of the scientific and technical instruments company’s stock valued at $363,000 after acquiring an additional 400 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Allegion during the fourth quarter valued at about $228,000. Finally, Stevens Capital Management LP acquired a new position in shares of Allegion during the fourth quarter valued at about $5,782,000. Institutional investors and hedge funds own 93.56% of the company’s stock.

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About Allegion (NYSE:ALLE)

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.

Further Reading: Return On Assets

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