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

Allegion plc (NYSE:ALLE) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,880,000 shares, a growth of 22.1% from the December 15th total of 1,540,000 shares. Approximately 2.2% of the company’s stock are sold short. Based on an average trading volume of 835,900 shares, the days-to-cover ratio is currently 2.2 days.

Allegion Price Performance

Shares of ALLE opened at $133.72 on Friday. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 2.93 and a beta of 1.11. Allegion has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The firm has a 50-day simple moving average of $135.90 and a 200-day simple moving average of $136.41. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $970.70 million. During the same quarter in the prior year, the business earned $1.94 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Allegion will post 7.42 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a dividend of $0.48 per share. The ex-dividend date was Tuesday, December 17th. This represents a $1.92 annualized dividend and a yield of 1.44%. Allegion’s dividend payout ratio is currently 29.49%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ALLE shares. Mizuho upped their target price on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird upped their price objective on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Wells Fargo & Company cut their target price on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley assumed coverage on Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price for the company. Finally, Barclays cut their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $140.83.

Insider Buying and Selling

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John H. Stone acquired 7,500 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegion

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. grew its holdings 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 acquiring an additional 72 shares during the period. Brooklyn Investment Group acquired a new position in shares of Allegion during the 3rd quarter worth $28,000. Concord Wealth Partners purchased a new position in shares of Allegion in the 3rd quarter valued at about $29,000. Cromwell Holdings LLC lifted its stake in shares of Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $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 worth $47,000 after buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.