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Allegion PLC - Stock Quote ALLE

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Morningstar's Allegion PLC Stock Analysis

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Allegion Reports Solid Q1 Revenue Growth; We Think Margins Will Improve as 2022 Progresses

Analyst Note

| Brian Bernard, CFA, CPA |

We're maintaining our $132 per share fair value estimate for shares of wide-moat-rated Allegion following the firm's first-quarter 2022 earnings release. As discussed in our April 22 analyst note, we had previously raised our fair value estimate 5% to account for Allegion's pending acquisition of Stanley Black & Decker's access technologies business. While management hasn't yet included the acquisition (which is expected to close during the third quarter) in its full-year 2022 financial guidance, we've included it in our valuation model.

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Allegion PLC's Company Profile

Business Description

Allegion is a global security products company with a portfolio of leading brands, such as Schlage, von Duprin, and LCN. The Ireland-domiciled company was created via a spinoff transaction from Ingersoll-Rand in December 2013. In fiscal 2021, Allegion generated 68% of sales in the United States. The company mainly competes with Swedish-based Assa Abloy AB and Switzerland-based Dormakaba.

Harcourt Road, Iveagh Court, Block D
Dublin 2, D02 VH94, Ireland
T +353 12546200
Sector Industrials
Industry Security & Protection Services
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 11,000