Allegion plc (NYSE:ALLE) Short Interest Up 11.6% in October

Allegion plc (NYSE:ALLEGet Rating) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,020,000 shares, an increase of 11.6% from the October 15th total of 1,810,000 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 792,500 shares, the short-interest ratio is currently 2.5 days.

Analysts Set New Price Targets

Several research firms have recently issued reports on ALLE. Wells Fargo & Company increased their target price on shares of Allegion from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. Robert W. Baird decreased their target price on Allegion from $120.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, July 18th. StockNews.com initiated coverage on shares of Allegion in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Credit Suisse Group increased their price objective on shares of Allegion from $108.00 to $116.00 and gave the company a “neutral” rating in a report on Friday, October 28th. Finally, Morgan Stanley boosted their target price on shares of Allegion from $98.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Friday, October 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $118.00.

Allegion Trading Down 2.3 %

NYSE:ALLE opened at $110.95 on Tuesday. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.10 and a current ratio of 1.79. The stock has a 50-day simple moving average of $96.75 and a 200-day simple moving average of $101.63. The stock has a market cap of $9.75 billion, a P/E ratio of 22.60, a P/E/G ratio of 2.87 and a beta of 1.07. Allegion has a 1 year low of $87.33 and a 1 year high of $137.02.

Allegion (NYSE:ALLEGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The scientific and technical instruments company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.19. Allegion had a net margin of 13.96% and a return on equity of 59.82%. The business had revenue of $913.70 million during the quarter, compared to analysts’ expectations of $873.58 million. During the same period last year, the company posted $1.56 EPS. The company’s revenue was up 27.4% on a year-over-year basis. As a group, analysts anticipate that Allegion will post 5.46 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, September 15th. Allegion’s dividend payout ratio (DPR) is presently 33.40%.

Insider Activity at Allegion

In other Allegion news, CEO John H. Stone purchased 12,500 shares of Allegion stock in a transaction on Friday, October 28th. The stock was bought at an average cost of $104.45 per share, with a total value of $1,305,625.00. Following the transaction, the chief executive officer now owns 64,535 shares of the company’s stock, valued at approximately $6,740,680.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegion

Several institutional investors have recently modified their holdings of the company. State of Michigan Retirement System increased its stake in Allegion by 0.4% in the 1st quarter. State of Michigan Retirement System now owns 26,544 shares of the scientific and technical instruments company’s stock worth $2,914,000 after purchasing an additional 93 shares in the last quarter. Heritage Wealth Management LLC increased its stake in shares of Allegion by 3.0% in the third quarter. Heritage Wealth Management LLC now owns 3,385 shares of the scientific and technical instruments company’s stock worth $304,000 after acquiring an additional 98 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Allegion by 29.1% during the third quarter. Quadrant Capital Group LLC now owns 453 shares of the scientific and technical instruments company’s stock worth $41,000 after acquiring an additional 102 shares in the last quarter. SG Americas Securities LLC boosted its position in Allegion by 0.7% during the third quarter. SG Americas Securities LLC now owns 14,969 shares of the scientific and technical instruments company’s stock valued at $1,342,000 after purchasing an additional 104 shares during the last quarter. Finally, Fortem Financial Group LLC grew its stake in Allegion by 2.3% in the third quarter. Fortem Financial Group LLC now owns 4,642 shares of the scientific and technical instruments company’s stock valued at $416,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 91.06% of the company’s stock.

About Allegion

(Get Rating)

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, 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 and door systems; and other accessories.

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