Allegion plc (NYSE:ALLE) Short Interest Update

Allegion plc (NYSE:ALLE) was the target of a large increase in short interest in 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. Based on an average daily trading volume, of 709,200 shares, the short-interest ratio is currently 3.8 days. Approximately 3.1% of the company’s stock are sold short.

Allegion Trading Up 1.1 %

NYSE ALLE opened at $142.72 on Tuesday. Allegion has a one year low of $95.94 and a one year high of $143.14. The firm has a market cap of $12.44 billion, a PE ratio of 23.28, a P/E/G ratio of 4.21 and a beta of 1.12. The firm’s fifty day moving average is $131.97 and its two-hundred day moving average is $127.21. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm had revenue of $965.60 million for the quarter, compared to analysts’ expectations of $953.63 million. During the same quarter in the previous year, the firm posted $1.76 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts expect that Allegion will post 7.26 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, September 20th. Allegion’s dividend payout ratio is presently 31.32%.

Hedge Funds Weigh In On Allegion

Hedge funds and other institutional investors have recently bought and sold shares of the company. Crewe Advisors LLC boosted its holdings in shares of 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 in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Allegion by 19.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 3,823 shares in the last quarter. Gradient Investments LLC purchased a new stake in Allegion in the 2nd quarter valued at approximately $38,000. Kimelman & Baird LLC acquired a new position in Allegion during the 2nd quarter worth approximately $39,000. Finally, Blue Trust Inc. raised its stake in shares of Allegion by 54.0% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after buying an additional 121 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ALLE. Wells Fargo & Company lifted their price target on shares of Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research note 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 upped their target price on Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $125.40.

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.