Topic: How To Invest

Q: Pat, Allegion plc looks like a good stock. Can I get your current recommendation on the stock? Thanks.

Article Excerpt

A: Allegion plc, $135.13, symbol ALLE on New York (Shares outstanding: 87.1 million; Market cap: $11.7 billion; www.allegion.com), sells security products and solutions in 120 countries. The company is based in Ireland for tax purposes, but it has regional corporate centres in Carmel, Indiana; Brussels, Belgium; and Shanghai, China. Allegion sells to commercial, institutional, and residential end-users. Its markets include education, healthcare, government, hospitality, retail, office, and residential. The company sells more than 30 brands, including segment leaders such as CISA, Interflex, LCN, Schlage, Simon Voss and Von Duprin. Electronic security products and access control systems make up Allegion’s largest product line. Those wares include electrified locks, electrified door closers and exit devices. In 2023, as a group, they contributed 28% of the company’s revenue. Allegion’s second-largest product line includes locks, locksets, portable locks, and key systems. These comprise a broad array of cylindrical, tubular, security levers and master key systems. This product line made up 27% of 2023 revenue. Door controls and systems and exit…