Allegion plc (NYSE:ALLE) Short Interest Down 7.0% in November

Allegion plc (NYSE:ALLE) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 1,460,000 shares, a drop of 7.0% from the November 15th total of 1,570,000 shares. Based on an average daily volume of 831,200 shares, the short-interest ratio is currently 1.8 days. Approximately 1.7% of the company’s stock are sold short.

Allegion Price Performance

NYSE ALLE traded down $0.39 on Tuesday, reaching $136.65. The company’s stock had a trading volume of 856,376 shares, compared to its average volume of 728,239. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10. 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 firm has a market cap of $11.88 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 3.35 and a beta of 1.10. The business has a 50-day moving average price of $142.87 and a 200 day moving average price of $134.26.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.18. The company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.94 EPS. Sell-side analysts expect that Allegion will post 7.41 EPS for the current year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, December 17th. Allegion’s dividend payout ratio is currently 29.49%.

Analyst Ratings Changes

ALLE has been the subject of several recent analyst reports. Barclays upped their price objective on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Mizuho boosted their target price on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their target price on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Robert W. Baird raised their price objective on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $144.60.

Insider Buying and Selling at Allegion

In other news, SVP Robert C. Martens sold 8,035 shares of the 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 transaction, the senior vice president now owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John H. Stone bought 7,500 shares of Allegion stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Allegion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in Allegion in the third quarter valued at about $4,988,000. Renaissance Technologies LLC acquired a new stake in shares of Allegion during the 2nd quarter worth approximately $27,056,000. Andra AP fonden acquired a new stake in Allegion in the second quarter worth $10,704,000. Raymond James & Associates boosted its position in shares of Allegion by 1.8% during the second quarter. Raymond James & Associates now owns 447,195 shares of the scientific and technical instruments company’s stock worth $52,836,000 after purchasing an additional 7,780 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its holdings in shares of Allegion by 183.0% in the 2nd quarter. Great Lakes Advisors LLC now owns 115,294 shares of the scientific and technical instruments company’s stock valued at $13,622,000 after buying an additional 74,559 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.