Allegion plc (NYSE:ALLE) Short Interest Update

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

Allegion Stock Performance

Shares of NYSE:ALLE traded up $0.65 during trading on Wednesday, reaching $141.14. The company had a trading volume of 130,635 shares, compared to its average volume of 724,646. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 3.35 and a beta of 1.10. 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 stock’s fifty day moving average price is $143.77 and its 200 day moving average price is $133.11. Allegion has a fifty-two week low of $104.25 and a fifty-two week 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 earnings per share (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 analyst estimates of $970.70 million. During the same quarter in the previous year, the company posted $1.94 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research analysts predict that Allegion will post 7.41 EPS for the current year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.36%. Allegion’s payout ratio is 29.49%.

Analyst Ratings Changes

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

Insider Transactions at Allegion

In related 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 value of $1,164,432.20. Following the completion of the sale, the senior vice president now directly owns 7,104 shares in the company, valued at $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

A number of institutional investors have recently bought and sold shares of the company. McClarren Financial Advisors Inc. lifted its position in shares of Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 72 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Allegion in the third quarter valued at $28,000. Crewe Advisors LLC lifted its position in shares of Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 149 shares in the last quarter. Concord Wealth Partners purchased a new stake in shares of Allegion in the third quarter valued at $29,000. Finally, Cromwell Holdings LLC lifted its position 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 acquiring an additional 92 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.