Short Interest in Allegion plc (NYSE:ALLE) Grows By 33.0%

Allegion plc (NYSE:ALLE - Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 3,100,000 shares, a growth of 33.0% from the March 31st total of 2,330,000 shares. Currently, 3.6% of the company's shares are short sold. Based on an average daily trading volume, of 1,110,000 shares, the days-to-cover ratio is currently 2.8 days.

Insider Buying and Selling at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of Allegion stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the sale, the senior vice president now directly owns 10,273 shares in the company, valued at approximately $1,302,000.02. This represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allegion

A number of institutional investors have recently added to or reduced their stakes in ALLE. Cooke & Bieler LP acquired a new position in Allegion during the 1st quarter worth about $32,519,000. Kingsview Wealth Management LLC bought a new stake in Allegion in the first quarter valued at approximately $2,817,000. Dynasty Wealth Management LLC increased its position in Allegion by 2.8% during the 1st quarter. Dynasty Wealth Management LLC now owns 4,030 shares of the scientific and technical instruments company's stock valued at $526,000 after purchasing an additional 109 shares during the period. Verdence Capital Advisors LLC raised its holdings in Allegion by 61.5% during the 1st quarter. Verdence Capital Advisors LLC now owns 4,025 shares of the scientific and technical instruments company's stock worth $525,000 after purchasing an additional 1,533 shares during the last quarter. Finally, Parcion Private Wealth LLC acquired a new stake in shares of Allegion during the first quarter worth $253,000. 92.21% of the stock is owned by institutional investors.

Allegion Price Performance

Shares of Allegion stock traded up $2.15 on Friday, reaching $140.84. 819,683 shares of the stock were exchanged, compared to its average volume of 833,667. The firm's 50 day moving average is $128.38 and its 200-day moving average is $133.48. The firm has a market cap of $12.14 billion, a PE ratio of 20.65, a P/E/G ratio of 3.97 and a beta of 1.01. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. Allegion has a one year low of $113.27 and a one year high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.18. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $941.90 million during the quarter, compared to the consensus estimate of $918.53 million. During the same period in the prior year, the company earned $1.55 EPS. Allegion's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts anticipate that Allegion will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, June 13th. Allegion's payout ratio is 28.65%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Barclays raised their price objective on Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a research report on Friday, April 25th. Morgan Stanley increased their price target on Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Allegion from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Finally, Robert W. Baird lifted their target price on shares of Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $140.40.

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.

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