Allegion plc (NYSE:ALLE) Sees Significant Growth in Short Interest

Allegion plc (NYSE:ALLE) saw a large 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 shares are sold short. Based on an average trading volume of 835,900 shares, the short-interest ratio is presently 2.2 days.

Allegion Price Performance

Shares of ALLE opened at $133.72 on Friday. The company has a 50 day moving average of $135.90 and a 200-day moving average of $136.41. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $11.62 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.93 and a beta of 1.11. Allegion has a twelve month low of $113.27 and a twelve month 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 for the quarter, beating 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 during the quarter, compared to the consensus estimate of $970.70 million. During the same quarter last year, the firm earned $1.94 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Allegion will post 7.42 EPS for the current fiscal year.

Allegion Dividend Announcement

The business also recently announced 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 of this dividend was Tuesday, December 17th. This represents a $1.92 annualized dividend and a yield of 1.44%. Allegion’s payout ratio is presently 29.49%.

Insider Buying and Selling at Allegion

In other news, SVP Robert C. Martens sold 8,035 shares of the business’s 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 transaction, the senior vice president now directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John H. Stone purchased 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased 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 directly owns 120,481 shares in the company, valued at $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. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC raised its stake in shares of Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after purchasing an additional 823,874 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Allegion by 397.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock worth $88,450,000 after acquiring an additional 484,995 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Allegion during the third quarter worth $666,840,000. Millennium Management LLC grew its position in shares of Allegion by 483.1% in the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock valued at $60,914,000 after acquiring an additional 427,146 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Allegion by 13.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock worth $277,581,000 after purchasing an additional 232,395 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on ALLE shares. Barclays dropped their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company cut their price objective on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Morgan Stanley initiated coverage on shares of Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price target for the company. Finally, Robert W. Baird raised their price objective on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $140.83.

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.