Fintel reports that on July 12, 2023, Morgan Stanley reiterated coverage of Allegion (NYSE:ALLE) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 3.21% Upside
As of July 6, 2023, the average one-year price target for Allegion is 126.31. The forecasts range from a low of 95.95 to a high of $139.65. The average price target represents an increase of 3.21% from its latest reported closing price of 122.38.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Allegion is 3,569MM, an increase of 2.81%. The projected annual non-GAAP EPS is 6.16.
Allegion Declares $0.45 Dividend
On April 13, 2023 the company declared a regular quarterly dividend of $0.45 per share ($1.80 annualized). Shareholders of record as of June 15, 2023 received the payment on June 30, 2023. Previously, the company paid $0.45 per share.
At the current share price of $122.38 / share, the stock's dividend yield is 1.47%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.22%, the lowest has been 0.82%, and the highest has been 1.82%. The standard deviation of yields is 0.25 (n=235).
The current dividend yield is 1.00 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.32. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.41%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1152 funds or institutions reporting positions in Allegion. This is an increase of 63 owner(s) or 5.79% in the last quarter. Average portfolio weight of all funds dedicated to ALLE is 0.13%, a decrease of 34.89%. Total shares owned by institutions increased in the last three months by 0.46% to 89,963K shares. 
The put/call ratio of ALLE is 0.53, indicating a bullish outlook.
What are Other Shareholders Doing?
APG Asset Management N.V. holds 5,408K shares representing 6.15% ownership of the company. In it's prior filing, the firm reported owning 5,386K shares, representing an increase of 0.41%. The firm increased its portfolio allocation in ALLE by 4.59% over the last quarter.
Boston Partners holds 4,031K shares representing 4.58% ownership of the company. In it's prior filing, the firm reported owning 4,035K shares, representing a decrease of 0.11%. The firm increased its portfolio allocation in ALLE by 2.71% over the last quarter.
Kayne Anderson Rudnick Investment Management holds 3,018K shares representing 3.43% ownership of the company. In it's prior filing, the firm reported owning 2,970K shares, representing an increase of 1.59%. The firm decreased its portfolio allocation in ALLE by 32.51% over the last quarter.
Pictet Asset Management holds 2,882K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 2,768K shares, representing an increase of 3.93%. The firm decreased its portfolio allocation in ALLE by 8.70% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,725K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 2,667K shares, representing an increase of 2.12%. The firm decreased its portfolio allocation in ALLE by 4.35% over the last quarter.
Allegion Background Information
(This description is provided by the company.)
Allegion is a global pioneer in seamless access, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools and institutions. Allegion had $2.9 billion in revenue in 2019 and sells products in almost 130 countries.
Additional reading:
- ALLEGION REPORTS FIRST-QUARTER 2023 FINANCIAL RESULTS, RAISES FULL-YEAR 2023 OUTLOOK
- ALLEGION REPORTS FORTH-QUARTER, FULL-YEAR 2022 FINANCIAL RESULTS, INTRODUCES 2023 OUTLOOK
- February 14, 2022
- List of Subsidiaries of Allegion plc
- Allegion Board of Directors Elects Long-Standing Member Kirk S. Hachigian as Chairman
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
