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

Allegion plc (NYSE:ALLE) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,880,000 shares, an increase 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. Currently, 2.2% of the shares of the stock are sold short.

Insider Buying and Selling

In other news, CEO John H. Stone purchased 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost 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 owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the transaction, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Institutional Trading of Allegion

Several hedge funds have recently made changes to their positions in ALLE. McClarren Financial Advisors Inc. grew its holdings 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 purchasing an additional 72 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Allegion by 0.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock valued at $2,871,000 after buying an additional 77 shares during the period. OneDigital Investment Advisors LLC grew its stake in shares of Allegion by 2.9% in the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock worth $425,000 after acquiring an additional 82 shares in the last quarter. Heritage Family Offices LLP increased its position in shares of Allegion by 3.2% during the fourth quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock worth $346,000 after acquiring an additional 82 shares during the period. Finally, Thrive Wealth Management LLC raised its stake in shares of Allegion by 5.0% in the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock valued at $269,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLE has been the topic of several recent research reports. Morgan Stanley assumed coverage on Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 target price on the stock. Barclays lowered 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 reduced their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Mizuho upped their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Robert W. Baird lifted their target price on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, Allegion presently has an average rating of “Hold” and a consensus price target of $140.83.

Allegion Stock Up 0.8 %

Shares of NYSE:ALLE opened at $133.72 on Friday. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.93 and a beta of 1.11. Allegion has a 12-month low of $113.27 and a 12-month high of $156.10. The business has a 50-day moving average price of $135.90 and a 200 day moving average price of $136.41. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. During the same quarter last year, the firm posted $1.94 earnings per share. Allegion’s revenue was up 5.4% compared to the same quarter last year. Sell-side analysts expect that Allegion will post 7.42 EPS for the current year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.44%. The ex-dividend date was Tuesday, December 17th. Allegion’s dividend payout ratio is currently 29.49%.

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.