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

by · The Markets Daily

Allegion plc (NYSE:ALLE – Get Free Report) saw a significant growth in short interest in 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. Based on an average daily volume of 835,900 shares, the short-interest ratio is currently 2.2 days. Approximately 2.2% of the company’s stock are short sold.

Insider Activity

In other news, SVP Robert C. Martens sold 8,035 shares of the firm’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 sale, the senior vice president now directly owns 7,104 shares in the company, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 acquired at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the purchase, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Allegion

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. boosted its holdings in shares of Allegion by 61.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 72 shares during the period. Brooklyn Investment Group acquired a new position in Allegion during the 3rd quarter valued at $28,000. Concord Wealth Partners bought a new stake in Allegion in the 3rd quarter valued at $29,000. Cromwell Holdings LLC grew its position in 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 purchasing an additional 92 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new position in shares of Allegion during the 2nd quarter worth about $39,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Stock Up 0.8 %

Shares of ALLE traded up $1.10 during trading hours on Friday, reaching $133.72. The company’s stock had a trading volume of 592,930 shares, compared to its average volume of 700,366. 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 firm has a market cap of $11.62 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 2.93 and a beta of 1.11. The company has a 50 day moving average of $136.10 and a two-hundred day moving average of $136.14. Allegion has a 1-year low of $113.27 and a 1-year high of $156.10.

Allegion (NYSE:ALLE – Get Free Report) last released its quarterly 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. The business had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. Allegion’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.94 EPS. As a group, research analysts predict that Allegion will post 7.42 EPS for the current fiscal year.

Allegion Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ALLE shares. Mizuho lifted their price target on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley began coverage on shares of Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price for the company. Wells Fargo & Company reduced their price target on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird boosted their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $140.83.

Check Out Our Latest Analysis on ALLE

About Allegion

(Get Free Report)

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.

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