Allegion plc ALLE is persistently struggling with supply-chain constraints, increasing operating costs and foreign currency woes. Due to these headwinds, shares of ALLE have lost 7.3% in the past three months against the industry's increase of 3.6%.Allegion is experiencing weakness in its businesses due to supply-chain challenges and shortages of electronic chips. In second-quarter 2022, its gross margin was down 293 basis points year over year, while the operating margin contracted 220 basis points. Labor, material and freight-related cost inflation are affecting ALLE’s margins.High effective tax rates are also concerning for Allegion. For 2022, ALLE predicts a 13% rate, suggesting a rise from 7.5% recorded in 2021. The high tax rate is predicted to affect its earnings by 35 cents in the year.Image Source: Zacks Investment ResearchAllegion’s presence across diverse regions exposes it to various environmental laws and regulations in its operating countries. Adverse foreign-currency movements had an impact of 3% on its revenues in the second quarter of 2022. The same had an adverse impact of 10.9% on its International’s sales.Zacks Rank and Stocks to ConsiderAllegion currently carries a Zacks Rank #3 (Hold). Some better-ranked companies from the Industrial Products sector are discussed below:Applied Industrial Technologies, Inc. AIT presently has a Zacks Rank #1 (Strong Buy) and a trailing four-quarter earnings surprise of 22.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.AIT’s earnings estimates have increased 6.7% for fiscal 2023 (ending June 2023) in the past 60 days. Its shares have risen 5.1% in the past three months.Eaton Corporation plc ETN presently has a Zacks Rank #2 (Buy). ETN’s earnings surprise in the last four quarters was 1.4%, on average.In the past 60 days, Eaton’s earnings estimates have increased 1.1% for 2022. The stock has rallied 5.4% in the past three months.IDEX Corporation IEX presently has a Zacks Rank of 2. IEX’s earnings surprise in the last four quarters was 4.6%, on average.In the past 60 days, IDEX’s earnings estimates have increased 1.1% for 2022. The stock has rallied 9% in the past three months. This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.>>Yes, I Want to Help Protect My Portfolio During the RecessionWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eaton Corporation, PLC (ETN): Free Stock Analysis Report Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report IDEX Corporation (IEX): Free Stock Analysis Report Allegion PLC (ALLE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research