Allegion plc (NYSE:ALLE) Short Interest Up 22.1% in December

Allegion plc (NYSE:ALLE - Get Free Report) was the target of a significant growth in short interest during 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. Currently, 2.2% of the shares of the company are short sold. Based on an average daily volume of 835,900 shares, the days-to-cover ratio is presently 2.2 days.

Analysts Set New Price Targets

ALLE has been the topic of several recent analyst reports. Mizuho increased their target price on shares of Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Wells Fargo & Company cut their price target on Allegion from $152.00 to $140.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Robert W. Baird raised their price objective 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. 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. Finally, StockNews.com cut Allegion from a "buy" rating to a "hold" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Allegion has an average rating of "Hold" and an average price target of $140.83.

Allegion Trading Up 0.8 %

Shares of ALLE stock traded up $1.10 during mid-day trading on Friday, hitting $133.72. 592,930 shares of the company's stock were exchanged, compared to its average volume of 700,366. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.93 and a beta of 1.11. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. Allegion has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The stock has a 50-day simple moving average of $136.10 and a two-hundred day simple moving average of $136.14.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (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 firm had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same period last year, the company earned $1.94 EPS. The firm's quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts expect that Allegion will post 7.42 EPS for the current fiscal year.

Allegion Dividend Announcement

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

Insider Transactions at Allegion

In other Allegion news, CEO John H. Stone bought 7,500 shares of Allegion stock in a transaction 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 $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert C. Martens sold 8,035 shares of the company's stock in a transaction on 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 directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Allegion

Institutional investors have recently added to or reduced their stakes in the company. One Capital Management LLC purchased a new stake in shares of Allegion during the 2nd quarter worth about $256,000. Renaissance Technologies LLC purchased a new stake in Allegion during the 2nd quarter worth $27,056,000. Wealth Alliance increased its holdings in Allegion by 10.0% in the 2nd quarter. Wealth Alliance now owns 2,450 shares of the scientific and technical instruments company's stock valued at $290,000 after purchasing an additional 223 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Allegion by 70.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 9,650 shares of the scientific and technical instruments company's stock valued at $1,172,000 after purchasing an additional 4,004 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of Allegion by 15.1% during the second quarter. Amalgamated Bank now owns 22,108 shares of the scientific and technical instruments company's stock worth $2,612,000 after purchasing an additional 2,904 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

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.

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