Allegion plc (NYSE:ALLE) Short Interest Up 7.1% in August

Allegion plc (NYSE:ALLE) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 2,720,000 shares, an increase of 7.1% from the August 15th total of 2,540,000 shares. Approximately 3.1% of the company’s shares are short sold. Based on an average daily trading volume, of 709,200 shares, the days-to-cover ratio is presently 3.8 days.

Allegion Price Performance

Shares of ALLE opened at $142.72 on Tuesday. The firm has a 50-day simple moving average of $131.97 and a two-hundred day simple moving average of $127.21. The stock has a market cap of $12.44 billion, a PE ratio of 23.28, a P/E/G ratio of 4.21 and a beta of 1.12. Allegion has a 1-year low of $95.94 and a 1-year high of $143.14. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23.

Allegion (NYSE:ALLE) last announced its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. During the same quarter in the previous year, the company earned $1.76 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, analysts forecast that Allegion will post 7.26 EPS for the current year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, September 20th. Allegion’s dividend payout ratio is currently 31.32%.

Analyst Ratings Changes

A number of analysts have issued reports on ALLE shares. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Wells Fargo & Company lifted their target price on shares of Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Finally, Barclays increased their price target on shares of Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Allegion presently has a consensus rating of “Hold” and an average target price of $125.40.

Institutional Trading of Allegion

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Greenwich Wealth Management LLC lifted its holdings in Allegion by 0.5% during the 2nd quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock worth $1,761,000 after buying an additional 79 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Allegion by 3.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company’s stock worth $310,000 after buying an additional 92 shares during the last quarter. Pitcairn Co. boosted its position in shares of Allegion by 3.5% during the 1st quarter. Pitcairn Co. now owns 2,784 shares of the scientific and technical instruments company’s stock worth $375,000 after acquiring an additional 94 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of Allegion by 6.3% in the 1st quarter. First Hawaiian Bank now owns 1,861 shares of the scientific and technical instruments company’s stock valued at $251,000 after acquiring an additional 110 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its position in shares of Allegion by 3.3% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 3,672 shares of the scientific and technical instruments company’s stock worth $495,000 after acquiring an additional 116 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.