ALLE

Wells Fargo Downgrades Allegion (ALLE)

Fintel reports that on February 21, 2024, Wells Fargo downgraded their outlook for Allegion (NYSE:ALLE) from Overweight to Equal-Weight .

Analyst Price Forecast Suggests 2.19% Downside

As of January 19, 2024, the average one-year price target for Allegion is 129.17. The forecasts range from a low of 95.95 to a high of $159.60. The average price target represents a decrease of 2.19% from its latest reported closing price of 132.06.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Allegion is 3,665MM, an increase of 0.39%. The projected annual non-GAAP EPS is 6.87.

Allegion Declares $0.45 Dividend

On December 7, 2023 the company declared a regular quarterly dividend of $0.45 per share ($1.80 annualized). Shareholders of record as of December 18, 2023 received the payment on December 29, 2023. Previously, the company paid $0.45 per share.

At the current share price of $132.06 / share, the stock's dividend yield is 1.36%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.30%, the lowest has been 0.82%, and the highest has been 1.86%. The standard deviation of yields is 0.26 (n=233).

The current dividend yield is 0.25 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.31. 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 0.33%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1189 funds or institutions reporting positions in Allegion. This is an increase of 53 owner(s) or 4.67% in the last quarter. Average portfolio weight of all funds dedicated to ALLE is 0.15%, an increase of 7.24%. Total shares owned by institutions increased in the last three months by 1.70% to 97,478K shares. ALLE / Allegion plc Put/Call Ratios The put/call ratio of ALLE is 0.26, indicating a bullish outlook.

What are Other Shareholders Doing?

ALLE / Allegion plc Shares Held by Institutions

APG Asset Management N.V. holds 5,788K shares representing 6.59% ownership of the company. In it's prior filing, the firm reported owning 5,310K shares, representing an increase of 8.26%. The firm increased its portfolio allocation in ALLE by 14.44% over the last quarter.

Boston Partners holds 4,933K shares representing 5.62% ownership of the company. In it's prior filing, the firm reported owning 5,613K shares, representing a decrease of 13.78%. The firm increased its portfolio allocation in ALLE by 2.34% over the last quarter.

Kayne Anderson Rudnick Investment Management holds 3,305K shares representing 3.77% ownership of the company. In it's prior filing, the firm reported owning 3,219K shares, representing an increase of 2.61%. The firm increased its portfolio allocation in ALLE by 9.53% over the last quarter.

Van Eck Associates holds 3,216K shares representing 3.66% ownership of the company. In it's prior filing, the firm reported owning 2,774K shares, representing an increase of 13.74%. The firm increased its portfolio allocation in ALLE by 16.87% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,740K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 2,738K shares, representing an increase of 0.07%. The firm decreased its portfolio allocation in ALLE by 9.82% 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.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.

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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.

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