Short Interest in Allegion PLC (NYSE:ALLE) Declines By 23.4%

Allegion PLC (NYSE:ALLE) saw a large decline in short interest in December. As of December 31st, there was short interest totaling 2,378,302 shares, a decline of 23.4% from the December 15th total of 3,102,811 shares. Based on an average daily volume of 772,218 shares, the short-interest ratio is presently 3.1 days. Approximately 2.8% of the shares of the stock are short sold. Approximately 2.8% of the shares of the stock are short sold. Based on an average daily volume of 772,218 shares, the short-interest ratio is presently 3.1 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research note on Wednesday, October 8th. Robert W. Baird increased their price objective on shares of Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Finally, Wells Fargo & Company restated a “positive” rating on shares of Allegion in a research report on Tuesday, December 16th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Allegion presently has a consensus rating of “Hold” and a consensus price target of $174.25.

Allegion Trading Up 1.1%

Shares of ALLE traded up $1.78 during mid-day trading on Friday, reaching $165.27. 987,670 shares of the company’s stock traded hands, compared to its average volume of 710,364. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.77 and a quick ratio of 1.11. The stock’s 50-day moving average is $162.13 and its two-hundred day moving average is $165.59. Allegion has a 12 month low of $116.57 and a 12 month high of $180.68. The stock has a market cap of $14.22 billion, a P/E ratio of 22.36, a P/E/G ratio of 3.01 and a beta of 1.04.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. Allegion had a return on equity of 40.83% and a net margin of 16.09%.The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business earned $2.16 EPS. Allegion’s revenue was up 10.7% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. Research analysts forecast that Allegion will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, December 16th. Allegion’s dividend payout ratio is currently 27.60%.

Institutional Trading of Allegion

A number of large investors have recently modified their holdings of ALLE. MassMutual Private Wealth & Trust FSB raised its position in Allegion by 16.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 424 shares of the scientific and technical instruments company’s stock valued at $75,000 after purchasing an additional 60 shares in the last quarter. Diversify Advisory Services LLC raised its holdings in shares of Allegion by 2.7% in the third quarter. Diversify Advisory Services LLC now owns 2,308 shares of the scientific and technical instruments company’s stock valued at $380,000 after acquiring an additional 60 shares in the last quarter. Huntington National Bank lifted its stake in Allegion by 7.7% in the second quarter. Huntington National Bank now owns 853 shares of the scientific and technical instruments company’s stock worth $123,000 after acquiring an additional 61 shares during the period. HM Payson & Co. grew its holdings in Allegion by 2.4% during the 3rd quarter. HM Payson & Co. now owns 2,644 shares of the scientific and technical instruments company’s stock worth $469,000 after acquiring an additional 63 shares in the last quarter. Finally, Fulton Bank N.A. increased its position in Allegion by 4.5% during the 3rd quarter. Fulton Bank N.A. now owns 1,529 shares of the scientific and technical instruments company’s stock valued at $271,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About Allegion

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.