Shares of Allegion plc (ALLE) are moving down about 6 percent during Tuesday morning trading after adjusted earnings in the fourth quarter were reported below the analysts' estimates.
For the quarter, adjusted net income increased to $168.3 million from $161.8 million in the previous year. Adjusted earnings per share were $1.94 versus $1.86 last year. However, analysts, on average, had expected the company to report $1.98 per share.
The company's stock is currently trading at $167.23, down 6.82 percent or $12.05, over the previous close of $179.50 on the New York Stock Exchange. It has traded between $116.57 and $183.11 in the past one year.
Net revenue rose to $1.03 billion from $945.6 million in the previous year.
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