Short Interest in Allegion plc (NYSE:ALLE) Decreases By 7.0%

Allegion plc (NYSE:ALLE - Get Free Report) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,460,000 shares, a decline of 7.0% from the November 15th total of 1,570,000 shares. Based on an average trading volume of 831,200 shares, the short-interest ratio is presently 1.8 days. Currently, 1.7% of the shares of the company are sold short.

Insider Activity at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction that occurred 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 sale, the senior vice president now directly owns 7,104 shares of the company's stock, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John H. Stone acquired 7,500 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 120,481 shares of the company's stock, valued at approximately $16,951,676.70. This represents 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.

Institutional Trading of Allegion

Large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Allegion in the 3rd quarter valued at $4,988,000. Renaissance Technologies LLC acquired a new position in Allegion in the 2nd quarter worth $27,056,000. Andra AP fonden acquired a new position in Allegion in the 2nd quarter worth $10,704,000. Raymond James & Associates boosted its stake in Allegion by 1.8% in the 2nd 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 during the period. Finally, Great Lakes Advisors LLC boosted its stake in 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 worth $13,622,000 after purchasing an additional 74,559 shares during the period. Institutional investors own 92.21% of the company's stock.

Allegion Trading Down 0.9 %

NYSE:ALLE traded down $1.30 during trading hours on Monday, hitting $137.53. 602,670 shares of the stock were exchanged, compared to its average volume of 727,709. The company's 50 day moving average is $143.03 and its two-hundred day moving average is $134.14. Allegion has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $11.96 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 3.35 and a beta of 1.10.

Allegion (NYSE:ALLE - Get Free Report) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.98 by $0.18. The company had revenue of $967.10 million during the quarter, compared to analysts' expectations of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS. On average, sell-side analysts anticipate that Allegion will post 7.41 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Tuesday, December 17th. Allegion's payout ratio is 29.49%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ALLE shares. Barclays boosted their target price on Allegion from $135.00 to $137.00 and gave the stock an "underweight" rating in a report on Monday, October 28th. Robert W. Baird boosted their target price on Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. Mizuho boosted their target price on Allegion from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their target price on Allegion from $137.00 to $152.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus 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.

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