Allegion plc (NYSE:ALLE) Short Interest Update

Allegion plc (NYSE:ALLE) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 1,570,000 shares, a decrease of 8.7% from the October 31st total of 1,720,000 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 796,700 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Ratings Changes

A number of brokerages have recently commented on ALLE. Robert W. Baird lifted their price target on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Barclays upped 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. Wells Fargo & Company lifted their price target on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Mizuho increased their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. One research 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’s stock. Based on data from MarketBeat.com, Allegion currently has an average rating of “Hold” and an average price target of $144.60.

Insiders Place Their Bets

In related news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction that occurred on 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 approximately $1,029,511.68. This trade represents a 53.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

A number of hedge funds and other institutional investors have recently modified their holdings of the company. McClarren Financial Advisors Inc. increased its stake in Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 72 shares during the period. Brooklyn Investment Group bought a new stake in shares of Allegion during the third quarter valued at approximately $28,000. Crewe Advisors LLC boosted its holdings in shares of Allegion by 160.2% during the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 149 shares in the last quarter. Concord Wealth Partners purchased a new stake in shares of Allegion in the 3rd quarter worth about $29,000. Finally, Cromwell Holdings LLC increased its stake in shares of Allegion by 65.2% in the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 92 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Performance

Shares of ALLE stock traded down $0.21 during trading on Monday, reaching $140.63. 255,786 shares of the company’s stock traded hands, compared to its average volume of 724,372. Allegion has a 1 year low of $104.25 and a 1 year high of $156.10. The firm’s 50-day moving average is $143.88 and its 200 day moving average is $132.89. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $12.22 billion, a P/E ratio of 21.63, a PEG ratio of 3.36 and a beta of 1.11.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share 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 business had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same quarter in the prior year, the firm posted $1.94 EPS. Allegion’s revenue was up 5.4% on a year-over-year basis. Equities research analysts expect that Allegion will post 7.41 EPS for the current year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Friday, September 20th. Allegion’s dividend payout ratio is currently 29.49%.

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.