Allegion plc (NYSE:ALLE) Short Interest Down 27.2% in April


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Allegion plc (NYSE:ALLE) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 1,550,000 shares, a drop of 27.2% from the March 31st total of 2,130,000 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily trading volume, of 756,200 shares, the short-interest ratio is currently 2.0 days.

NYSE:ALLE traded up $0.66 during trading hours on Tuesday, reaching $136.73. 17,594 shares of the stock were exchanged, compared to its average volume of 743,202. The company has a quick ratio of 1.70, a current ratio of 2.29 and a debt-to-equity ratio of 1.73. The business has a 50-day moving average of $129.06 and a two-hundred day moving average of $116.09. Allegion has a twelve month low of $89.83 and a twelve month high of $140.21. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 42.26 and a beta of 1.12.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Wednesday, April 21st. The scientific and technical instruments company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.18. The business had revenue of $694.30 million for the quarter, compared to analyst estimates of $649.38 million. Allegion had a return on equity of 63.43% and a net margin of 11.12%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 earnings per share. On average, research analysts forecast that Allegion will post 4.8 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Wednesday, June 16th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Tuesday, June 15th. Allegion’s dividend payout ratio (DPR) is presently 29.45%.

A number of equities analysts have weighed in on ALLE shares. Zacks Investment Research lowered Allegion from a “buy” rating to a “hold” rating and set a $114.00 price objective for the company. in a research note on Friday, February 19th. Morgan Stanley lifted their price target on Allegion from $138.00 to $149.00 and gave the company an “equal weight” rating in a research note on Monday, April 26th. Longbow Research upgraded Allegion from a “neutral” rating to a “buy” rating in a research note on Monday, March 22nd. Finally, Barclays upgraded Allegion from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $107.00 to $150.00 in a research note on Tuesday, April 13th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Allegion has a consensus rating of “Hold” and a consensus price target of $122.14.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Allegion by 0.4% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 17,906 shares of the scientific and technical instruments company’s stock worth $2,249,000 after buying an additional 79 shares during the period. LVW Advisors LLC lifted its position in Allegion by 2.5% in the fourth quarter. LVW Advisors LLC now owns 3,933 shares of the scientific and technical instruments company’s stock valued at $458,000 after purchasing an additional 97 shares during the period. Kalos Management Inc. increased its holdings in Allegion by 1.3% in the fourth quarter. Kalos Management Inc. now owns 7,582 shares of the scientific and technical instruments company’s stock valued at $885,000 after buying an additional 100 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Allegion by 0.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 35,309 shares of the scientific and technical instruments company’s stock valued at $4,109,000 after buying an additional 110 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in Allegion by 17.2% in the fourth quarter. IFP Advisors Inc now owns 929 shares of the scientific and technical instruments company’s stock valued at $101,000 after buying an additional 136 shares in the last quarter. Institutional investors own 93.20% of the company’s stock.

Allegion Company Profile

Allegion Plc provides security products and solutions that keep people safe, secure and productiv. It operates through the following three geographic segments: Americas; Middle East, India, and Africa (EMEIA); and Asia Pacific. The Americas segment sells a range of products and solutions such locks, locksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products, and access control and time and attendance systems.

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