Short Interest in Allegion plc (NYSE:ALLE) Expands By 7.6%

Allegion plc (NYSE:ALLE) was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 2,540,000 shares, a growth of 7.6% from the July 31st total of 2,360,000 shares. Based on an average daily trading volume, of 707,700 shares, the short-interest ratio is presently 3.6 days. Approximately 2.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Greenwich Wealth Management LLC increased its position in Allegion by 0.5% during the 2nd quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock worth $1,761,000 after purchasing an additional 79 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Allegion by 3.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company’s stock worth $310,000 after purchasing an additional 92 shares in the last quarter. Pitcairn Co. increased its position in Allegion by 3.5% during the 1st quarter. Pitcairn Co. now owns 2,784 shares of the scientific and technical instruments company’s stock worth $375,000 after purchasing an additional 94 shares in the last quarter. First Hawaiian Bank increased its position in Allegion by 6.3% during the 1st quarter. First Hawaiian Bank now owns 1,861 shares of the scientific and technical instruments company’s stock worth $251,000 after purchasing an additional 110 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. increased its position in Allegion by 3.3% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 3,672 shares of the scientific and technical instruments company’s stock worth $495,000 after purchasing an additional 116 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALLE has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Finally, Barclays upped their target price on shares of Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Allegion currently has an average rating of “Hold” and a consensus price target of $125.40.

Allegion Trading Up 1.1 %

Shares of ALLE stock opened at $138.84 on Tuesday. The firm has a market cap of $12.10 billion, a P/E ratio of 22.65, a PEG ratio of 4.26 and a beta of 1.13. Allegion has a 1-year low of $95.94 and a 1-year high of $141.99. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. The firm’s 50-day simple moving average is $127.63 and its 200-day simple moving average is $126.68.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The business had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 EPS. As a group, equities analysts forecast that Allegion will post 7.26 EPS for the current year.

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.