Allegion plc (NYSE:ALLE) to Issue Quarterly Dividend of $0.51

Allegion plc (NYSE:ALLE) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 1.58%. This is an increase 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 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 Stock Performance

Shares of ALLE stock traded up $0.20 on Thursday, reaching $129.27. The stock had a trading volume of 967,718 shares, compared to its average volume of 751,888. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion has a 1 year low of $113.27 and a 1 year high of $156.10. The stock has a market cap of $11.24 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company has a 50 day simple moving average of $133.64 and a 200 day simple moving average of $137.48.

Insider Buying and Selling at Allegion

In other Allegion news, CEO John H. Stone acquired 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALLE. Morgan Stanley started coverage on shares of Allegion in a research report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price target for the company. Mizuho boosted their price target on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays decreased their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company reduced their target price on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Robert W. Baird increased their target price on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $140.83.

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.