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

Allegion plc (NYSE:ALLE) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders 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 dividend yield of 1.58%. This is a boost from Allegion’s previous quarterly dividend of $0.48.

Allegion has raised its dividend payment by an average of 10.1% per year over the last three years. Allegion has a dividend payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Allegion stock traded up $0.20 during midday trading on Thursday, hitting $129.27. 967,718 shares of the company’s stock were exchanged, compared to its average volume of 751,888. The company has a market cap of $11.24 billion, a P/E ratio of 19.86, a PEG ratio of 3.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The stock has a 50-day moving average price of $133.64 and a two-hundred day moving average price of $137.48. Allegion has a 52-week low of $113.27 and a 52-week high of $156.10.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ALLE shares. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Barclays cut their target price on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird lifted their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Mizuho upped their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley began coverage on shares of Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price on the stock. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $140.83.

Insider Activity at Allegion

In other news, CEO John H. Stone acquired 7,500 shares of the stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the transaction, the chief executive officer now owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This represents a 6.64 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed 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.