Allegion plc (NYSE:ALLE) Short Interest Up 22.1% in January

Allegion plc (NYSE:ALLE) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 1,880,000 shares, an increase of 22.1% from the December 31st total of 1,540,000 shares. Based on an average daily volume of 835,900 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.2% of the shares of the company are short sold.

Insider Buying and Selling at Allegion

In related news, CEO John H. Stone purchased 7,500 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Allegion

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in shares of Allegion in the third quarter worth about $4,988,000. Qsemble Capital Management LP acquired a new stake in shares of Allegion in the third quarter valued at approximately $891,000. Nordea Investment Management AB raised its position in Allegion by 4.4% in the 4th quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock worth $154,643,000 after purchasing an additional 49,176 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Allegion by 4.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock worth $1,260,000 after buying an additional 340 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Allegion by 31.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 801,520 shares of the scientific and technical instruments company’s stock valued at $116,814,000 after buying an additional 192,609 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Mizuho raised their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird increased their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Morgan Stanley started coverage on Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price for the company. Finally, Barclays lowered their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Allegion currently has an average rating of “Hold” and a consensus target price of $140.83.

Allegion Stock Performance

NYSE ALLE traded down $0.45 during trading on Friday, hitting $133.07. The company’s stock had a trading volume of 379,169 shares, compared to its average volume of 681,838. Allegion has a 52 week low of $113.27 and a 52 week high of $156.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The firm has a market cap of $11.57 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 3.24 and a beta of 1.11. The firm has a 50 day moving average price of $134.73 and a 200 day moving average price of $137.31.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Tuesday, December 17th. Allegion’s payout ratio is 29.49%.

About Allegion

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.