Allegion plc (NYSE:ALLE) Sees Significant Increase in Short Interest

Allegion plc (NYSE:ALLE) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,540,000 shares, a growth of 5.5% from the November 30th total of 1,460,000 shares. Based on an average trading volume of 845,100 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.8% of the shares of the company are sold short.

Allegion Trading Down 1.6 %

Shares of NYSE:ALLE opened at $128.59 on Friday. The firm has a market capitalization of $11.18 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 3.35 and a beta of 1.10. Allegion has a 12-month low of $113.27 and a 12-month high of $156.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The firm has a fifty day moving average of $138.41 and a two-hundred day moving average of $135.26.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The firm had revenue of $967.10 million during the quarter, compared to analysts’ expectations of $970.70 million. During the same period in the prior year, the company posted $1.94 earnings per share. Allegion’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts expect that Allegion will post 7.41 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.49%. The ex-dividend date was Tuesday, December 17th. Allegion’s payout ratio is currently 29.49%.

Insider Activity

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the transaction, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. The trade was a 53.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John H. Stone purchased 7,500 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the purchase, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This trade represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALLE. McClarren Financial Advisors Inc. boosted its stake in Allegion by 61.0% during the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 72 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Allegion during the 3rd quarter valued at about $28,000. Concord Wealth Partners bought a new stake in Allegion in the third quarter valued at about $29,000. Cromwell Holdings LLC lifted its stake in Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 92 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Allegion by 66.2% during the third quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock valued at $47,000 after purchasing an additional 129 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

ALLE has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Mizuho lifted their price target on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird boosted their price objective on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company raised their target price on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $144.60.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.