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Allegion plc - ALLE STOCK NEWS

Welcome to our dedicated page for Allegion plc news (Ticker: ALLE), a resource for investors and traders seeking the latest updates and insights on Allegion plc stock.

Allegion Public Limited Company (NYSE: ALLE) is a global leader in safety and security solutions, known for its innovative products and services that ensure seamless access to buildings and spaces. Founded in 2013 as a spinoff from Ingersoll-Rand, Allegion has established itself as a trusted name in the security industry. The company boasts a robust portfolio of renowned brands such as Schlage, Von Duprin, LCN, and CISA, which are widely recognized for their high-quality security solutions.

Headquartered in Dublin, Ireland, Allegion operates on a global scale, with its products sold in nearly 130 countries. In fiscal 2023, the company reported revenues of $3.7 billion, with 75% of its sales generated in the United States. Allegion's comprehensive product range caters to various sectors, including homes, businesses, schools, and institutions, focusing on security around doors and adjacent areas.

Allegion continuously addresses modern security challenges through its commitment to innovation. The company recently showcased its latest interoperable electronic access control technologies and software at ISC West 2024. These advancements, including Schlage NDE and LE mobile-enabled wireless locks and the Schlage XE360 Series, demonstrate Allegion's dedication to integrating cutting-edge technology and seamless access solutions.

Furthermore, Allegion's strategic collaborations, such as the Allegion Alliance Network and partnerships with organizations like the Connectivity Standards Alliance and FiRA consortium, enhance its product offerings and industry leadership. Notably, the company's recent acquisitions of Boss Door Controls, Dorcas, and Unicel Architectural expand its market reach and product capabilities, reinforcing its position as a leader in security solutions.

Financially, Allegion remains strong, as evidenced by its recent first-quarter 2024 results. The company reported net revenues of $893.9 million and net earnings of $123.8 million. Allegion continues to invest in growth and return value to shareholders through dividends and share repurchases. The company's outlook for 2024 remains positive, with expectations of continued revenue growth and robust performance in institutional markets.

For more information about Allegion and its comprehensive range of security solutions, please visit www.allegion.com.

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Allegion (NYSE: ALLE), a global leader in security products and solutions, will announce its 2024 second-quarter financial results on July 24, before the market opens. A conference call with John H. Stone, President and CEO, and Mike Wagnes, Senior VP and CFO, will follow at 8 a.m. ET to review the results. The call will be webcast live on Allegion's investor relations website. To join the call, investors in the U.S. can dial 1-877-883-0383, while international participants can dial 1-412-902-6506, using Conference ID 9382339. A replay will be available on the website later that day.

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Allegion (NYSE: ALLE), a global leader in security products, has announced the appointment of Stacy Cozad as Senior Vice President, General Counsel, and Corporate Secretary, effective August 5, 2024. Cozad succeeds Jeff Braun, who will retire on December 31, 2024. With nearly 30 years of experience, Cozad brings expertise in law, compliance, corporate communications, and cybersecurity. Previously, she served as EVP, General Counsel, and Corporate Secretary at Ingevity , managing $2 billion in 2023 revenue. John H. Stone, Allegion's CEO, highlighted Cozad's strategic problem-solving skills and dedication to core values, welcoming her to the executive leadership team to drive the company's growth and innovation.

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Allegion has launched the Von Duprin 70 Series Exit Devices, providing high-quality security solutions at a mid-price point. Designed for multifamily, office, retail, warehouse, industrial, and hospitality spaces, the 70 Series is ANSI/BHMA Grade 1 certified, offering both panic and fire-rated options in wide and narrow stile configurations.

The devices feature a Quiet Electric Latch Retraction (QEL) option for noise-sensitive environments and quick shipping for urgent projects. The series boasts modern aesthetics, enhancing project designs with a blend of premium and mid-priced products. Von Duprin supports customers with comprehensive technical and compliance assistance.

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Zentra, under the Allegion brand, has introduced a new feature allowing residents to add their keys to Apple Wallet, providing easy and secure access to multifamily buildings with iPhones or Apple Watches. This integration enables contactless entry to buildings, apartments, and common areas. Property owners and managers benefit from enhanced operational efficiency, with remote key management and issuance, reducing the need for physical keys. The feature utilizes Apple's security measures, ensuring data encryption and privacy. Demonstrations are available at Apartmentalize 2024 in Philadelphia. The solution currently supports various Schlage smart locks, with plans to expand compatibility later this year.

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Allegion, a global security products provider, has acquired Unicel Architectural, a North American manufacturer of glass, timber, and aluminum building solutions. Based in Quebec, Unicel Architectural primarily operates in Canada and the U.S. and serves healthcare, education, and government facilities. The acquisition will integrate Unicel into Allegion Americas, enhancing Allegion's portfolio and specification capabilities. Senior Vice President Dave Ilardi emphasized that the acquisition will provide more comprehensive offerings. Unicel's Co-Presidents will join Allegion to ensure a smooth transition. The transaction terms were not disclosed.

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Allegion (NYSE: ALLE), a global security solutions provider, announced the acquisition of Krieger Specialty Products, a leading U.S. manufacturer of high-performance doors and windows. Krieger, based in Los Angeles, serves industrial, commercial, and institutional markets with products like security, acoustical, and bullet-resistant doors and windows. This acquisition, led by Allegion Senior VP Dave Ilardi, aims to enhance Allegion's manufacturing capabilities and broaden its product portfolio. Krieger CEO Bob McCluney will stay on as an advisor. The financial terms were not disclosed.

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Allegion (NYSE: ALLE) has introduced the Schlage XE360 Series Wireless Locks, tailored for the multifamily market. These new electronic locks offer modern styles and essential features at a competitive price. The XE360 series supports leading mobile credential technologies, such as MIFARE, Bluetooth, and NFC, providing secure and convenient access for residents. Designed for offline or No-Tour environments, these locks eliminate the need for property managers to physically update access rights. The XE360 Series integrates seamlessly with Schlage Control smart locks and various access control systems, allowing for a unified management solution across all building openings. The innovative FleX Module board ensures future-ready connectivity, enabling easy upgrades from offline to networked solutions as technology evolves.

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Allegion (NYSE: ALLE) will participate in the 2024 KeyBanc Capital Markets Industrials & Basic Materials Conference. Senior Vice President and CFO Mike Wagnes will discuss the company's long-term strategy at the event. The conference is scheduled for Wednesday, May 29, at the InterContinental Hotel in Boston.

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Allegion, a global security products and solutions provider, announced the pricing of $400 million of 5.600% senior unsecured notes due 2034 by its subsidiary, Allegion US Holding Company. The offering is expected to close on May 29, 2024, subject to customary closing conditions. The net proceeds will be used to repay $400 million of 3.200% senior notes maturing on October 1, 2024. BofA Securities, Citigroup Global Markets, and Wells Fargo Securities are among the joint book-running managers for the offering. The notes will be guaranteed by Allegion upon issuance.

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Allegion (NYSE: ALLE) has extended and increased its senior unsecured revolving credit facility to $750 million from the previous $500 million. This new five-year facility, which remains unsecured and maintains investment-grade terms, enhances Allegion's liquidity. It allows for revolving loans, letters of credit, and swingline loans in USD, Euro, and GBP. The term loan facility, with $221.9 million outstanding as of March 31, 2024, remains unchanged and will mature on November 18, 2026. The commitment under the new facility will terminate on May 20, 2029, according to Mike Wagnes, Allegion's CFO.

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FAQ

What is Allegion Public Limited Company known for?

Allegion is known for its innovative safety and security solutions, including products from leading brands like Schlage, Von Duprin, and LCN.

Where is Allegion headquartered?

Allegion is headquartered in Dublin, Ireland.

What are some recent achievements of Allegion?

Recent achievements include showcasing new access control technologies at ISC West 2024 and acquiring Boss Door Controls, Dorcas, and Unicel Architectural.

How much revenue did Allegion generate in 2023?

Allegion generated $3.7 billion in revenue in 2023.

What percentage of Allegion’s sales are from the United States?

In fiscal 2023, 75% of Allegion's sales were generated in the United States.

What sectors does Allegion serve?

Allegion serves sectors including homes, businesses, schools, and institutions, focusing on security around doors and adjacent areas.

What are some of Allegion's notable products?

Notable products include Schlage NDE and LE mobile-enabled wireless locks and the Schlage XE360 Series of electronic locks.

How does Allegion enhance its product offerings?

Allegion enhances its offerings through strategic collaborations and partnerships, including the Allegion Alliance Network and the Connectivity Standards Alliance.

What financial results did Allegion report for the first quarter of 2024?

Allegion reported first-quarter 2024 net revenues of $893.9 million and net earnings of $123.8 million.

Where can I find more information about Allegion?

More information about Allegion can be found on their website at www.allegion.com.

Allegion plc

NYSE:ALLE

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10.85B
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2.58%
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