Allegion plc (NYSE:ALLE) Short Interest Down 7.0% in November

Allegion plc (NYSE:ALLE) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 1,460,000 shares, a drop of 7.0% from the November 15th total of 1,570,000 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average trading volume of 831,200 shares, the days-to-cover ratio is currently 1.8 days.

Allegion Price Performance

Shares of NYSE:ALLE opened at $136.65 on Wednesday. The company’s fifty day moving average price is $142.87 and its 200-day moving average price is $134.26. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 3.35 and a beta of 1.10. Allegion has a one year low of $113.27 and a one year high of $156.10.

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

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.41%. Allegion’s dividend payout ratio is 29.49%.

Analyst Upgrades and Downgrades

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

Insider Activity at Allegion

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

Institutional Trading of Allegion

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its position in Allegion by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,635 shares of the scientific and technical instruments company’s stock valued at $1,375,000 after buying an additional 1,365 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Allegion by 5.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,807 shares of the scientific and technical instruments company’s stock valued at $568,000 after acquiring an additional 265 shares during the period. Blue Trust Inc. grew its position in Allegion by 54.0% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after acquiring an additional 121 shares during the last quarter. Gradient Investments LLC purchased a new position in Allegion in the 2nd quarter worth approximately $38,000. Finally, Raymond James & Associates lifted its position in Allegion by 1.8% in the second quarter. Raymond James & Associates now owns 447,195 shares of the scientific and technical instruments company’s stock valued at $52,836,000 after purchasing an additional 7,780 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About Allegion

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.