Short Interest in Allegion plc (NYSE:ALLE) Decreases By 8.7%

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

Insider Buying and Selling

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on Friday, October 25th. The shares were 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 approximately $1,029,511.68. The trade was a 53.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. raised its holdings in Allegion by 44.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,157 shares of the scientific and technical instruments company’s stock worth $425,000 after purchasing an additional 969 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Allegion by 11.1% in the first quarter. Tidal Investments LLC now owns 6,819 shares of the scientific and technical instruments company’s stock worth $919,000 after buying an additional 681 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Allegion by 280.4% during the first quarter. Cetera Investment Advisers now owns 13,091 shares of the scientific and technical instruments company’s stock worth $1,763,000 after buying an additional 9,650 shares during the period. Cetera Advisors LLC grew its holdings in shares of Allegion by 90.5% during the first quarter. Cetera Advisors LLC now owns 4,891 shares of the scientific and technical instruments company’s stock valued at $659,000 after buying an additional 2,324 shares during the last quarter. Finally, CWM LLC increased its position in shares of Allegion by 47.3% in the 2nd quarter. CWM LLC now owns 3,018 shares of the scientific and technical instruments company’s stock valued at $357,000 after acquiring an additional 969 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Allegion Price Performance

Shares of NYSE:ALLE traded down $0.21 during midday trading on Monday, reaching $140.63. 255,786 shares of the company were exchanged, compared to its average volume of 724,372. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The stock has a market cap of $12.22 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 3.36 and a beta of 1.11. The business’s fifty day moving average is $143.88 and its two-hundred day moving average is $132.89. Allegion has a one year low of $104.25 and a one year high of $156.10.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, topping 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 company had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. During the same period in the previous year, the business earned $1.94 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts predict that Allegion will post 7.41 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s dividend payout ratio is 29.49%.

Analyst Ratings Changes

Several research firms have recently commented on ALLE. Mizuho upped their price objective on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Robert W. Baird lifted their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Barclays increased their price objective on shares of 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Allegion has an average rating of “Hold” and an average price target of $144.60.

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.