Welcome to our dedicated page for Allegion news (Ticker: ALLE), a resource for investors and traders seeking the latest updates and insights on Allegion stock.
Allegion plc designs and manufactures security and access solutions for residential, commercial and institutional settings. Its portfolio includes hardware, software and electronic products such as locks, door closers, exit devices, steel doors and frames, access control systems and workforce productivity systems.
Company news commonly covers quarterly results, revenue outlook, organic growth, acquisition and divestiture effects, dividends and share repurchase actions. Product updates focus on electronic access control, mobile credentials, data-center security applications, design and specification tools, and brand activity across CISA, Interflex, LCN, Schlage, SimonsVoss and Von Duprin.
Allegion plc (NYSE: ALLE) announced the appointment of Tim Eckersley as senior vice president of Allegion International, effective January 1, 2021. This new business unit will consolidate the current EMEA and Asia-Pacific operations, aimed at enhancing efficiency and growth in electronics and software. The company will maintain its reporting structure for 2020 but will transition to the new structure in 2021. Lucia Veiga Moretti will depart in March 2021 after facilitating Eckersley's transition. Allegion generated $2.9 billion in revenue in 2019 and operates in nearly 130 countries.
Allegion plc (NYSE: ALLE) has declared a quarterly dividend of $0.32 per ordinary share, payable on December 30, 2020, to shareholders of record as of December 16, 2020. With a revenue of $2.9 billion in 2019, Allegion is a global leader in security products and solutions, serving nearly 130 countries. The company focuses on seamless access and offers renowned brands such as Schlage®, CISA®, and Von Duprin®.
Allegion plc (NYSE: ALLE) has appointed Dev Vardhan, a senior partner at McKinsey & Company, to its board of directors. With over 25 years at McKinsey, Vardhan brings expertise in digital and business transformation, as well as in manufacturing, supply-chain design, and M&A. He will serve on the Compensation Committee and the Corporate Governance and Nominating Committee. Following this addition, Allegion's board now has eight members, with seven being independent. The company reported $2.9 billion in revenue in 2019 and operates in nearly 130 countries.
Allegion plc (NYSE: ALLE) will present its long-term strategy at Baird’s 2020 Global Industrial Conference on November 11. Chairman, President, and CEO David D. Petratis will lead the discussion, detailing the company's plans for future growth. Investors can access a live webcast of the event through Allegion's investor website. Allegion is a leader in seamless access solutions, generating $2.9 billion in revenue in 2019, with operations in nearly 130 countries.
Allegion plc (NYSE: ALLE) reported third-quarter 2020 net revenues of $728.4 million with net earnings of $146.9 million or $1.58 per share. Adjusted net earnings rose 13.6% to $154.6 million, or $1.67 per share, compared to Q3 2019. Revenues decreased 2.7% year-over-year, influenced by COVID-19. The Americas segment experienced 5.1% revenue decline, while EMEA grew 7.7%. The company raised its outlook for reported EPS to $3.40-$3.50 and for adjusted EPS to $4.75-$4.80, with cash flow expectations improved to $400-$420 million.
On October 20, 2020, Allegion partnered with the University of Tennessee, Knoxville, to implement mobile student IDs on Apple devices. This solution enhances operational efficiency by providing students with contactless access to campus facilities and enabling secure transactions. The initiative also includes remote credential management and two-factor authentication, ensuring security even if devices are lost. Approximately 18,500 devices have been provisioned, with nearly 4.6 million transactions completed, averaging 46,000 per day, showcasing the solution's success and adoption.
ISONAS, part of Allegion, announced a successful installation of its Pure IP access control solution at Premier Packaging's new distribution center in Louisville, Kentucky. This system addresses security challenges posed by high traffic, including non-employee truck drivers. ISONAS installed 18 reader-controllers and implemented its cloud-based Pure Access software, enhancing security by requiring ID badge access. Premier Packaging plans to extend this solution to other buildings, amplifying safety across their operations. Allegion reported $2.9 billion in revenue in 2019.