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

Allegion plc (NYSE:ALLE) declared a quarterly dividend on Thursday, September 5th, RTT News reports. Investors of record on Friday, September 20th will be paid 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 1.34%. The ex-dividend date of this dividend is Friday, September 20th.

Allegion has increased its dividend by an average of 12.0% annually over the last three years. Allegion has a dividend payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

NYSE:ALLE opened at $143.37 on Wednesday. The company has a fifty day simple moving average of $132.54 and a two-hundred day simple moving average of $127.33. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. Allegion has a 52 week low of $95.94 and a 52 week high of $144.49. The company has a market cap of $12.54 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 4.21 and a beta of 1.12.

Allegion (NYSE:ALLE) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. During the same period in the prior year, the firm earned $1.76 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Allegion will post 7.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ALLE shares. Wells Fargo & Company boosted their target price on Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Barclays increased their target price on shares of Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research report on Thursday, July 25th. Finally, StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.