Allegion plc (NYSE:ALLE) Short Interest Up 7.1% in August

Allegion plc (NYSE:ALLE) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 2,720,000 shares, an increase of 7.1% from the August 15th total of 2,540,000 shares. Approximately 3.1% of the shares of the stock are short sold. Based on an average daily volume of 709,200 shares, the days-to-cover ratio is presently 3.8 days.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Finally, Barclays boosted their target price on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Allegion has an average rating of “Hold” and a consensus target price of $125.40.

Allegion Trading Up 0.0 %

Shares of Allegion stock traded up $0.05 during trading on Wednesday, reaching $143.42. 485,202 shares of the company were exchanged, compared to its average volume of 686,086. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. Allegion has a twelve month low of $95.94 and a twelve month high of $146.41. The business has a 50-day moving average price of $132.54 and a 200-day moving average price of $127.33. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 4.21 and a beta of 1.12.

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

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.34%. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

Institutional Investors Weigh In On Allegion

A number of institutional investors have recently made changes to their positions in ALLE. Crewe Advisors LLC grew its stake in Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 149 shares during the period. Covestor Ltd grew its stake in Allegion by 255.7% in the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 225 shares during the period. Gradient Investments LLC acquired a new position in Allegion in the second quarter valued at about $38,000. Larson Financial Group LLC acquired a new position in Allegion in the first quarter valued at about $44,000. Finally, Kimelman & Baird LLC acquired a new position in Allegion in the second quarter valued at about $39,000. 92.21% of the stock is 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.