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

Allegion plc (NYSE:ALLE) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Investors of record on Friday, March 14th will be given 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 yield of 1.59%. The ex-dividend date is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48.

Allegion has raised its dividend by an average of 10.1% per year over the last three years. Allegion has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Allegion to earn $7.61 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 25.2%.

Allegion Trading Down 0.5 %

ALLE stock opened at $128.64 on Friday. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The firm’s fifty day simple moving average is $133.40 and its two-hundred day simple moving average is $137.42.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley initiated coverage on Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective on the stock. Mizuho upped their target price on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays cut their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $140.83.

Insider Transactions at Allegion

In other Allegion news, CEO John H. Stone purchased 7,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the purchase, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. This represents a 6.64 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

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.