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

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Allegion

A number of large investors have recently modified their holdings of ALLE. Berkshire Hathaway Inc purchased a new position in shares of Allegion in the second quarter worth about $112,433,000. Norges Bank purchased a new position in Allegion in the 2nd quarter worth approximately $109,862,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Allegion by 390.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 593,298 shares of the scientific and technical instruments company’s stock worth $85,506,000 after purchasing an additional 472,435 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Allegion by 15.2% in the second quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock valued at $369,514,000 after purchasing an additional 339,025 shares during the last quarter. Finally, Cooke & Bieler LP increased its holdings in shares of Allegion by 118.5% in the second quarter. Cooke & Bieler LP now owns 544,659 shares of the scientific and technical instruments company’s stock valued at $78,496,000 after purchasing an additional 295,395 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of ALLE stock traded up $1.78 on Friday, hitting $165.27. The company had a trading volume of 987,670 shares, compared to its average volume of 710,364. The company has a 50-day moving average price of $162.13 and a 200-day moving average price of $165.59. The firm has a market cap of $14.22 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 3.01 and a beta of 1.04. Allegion has a twelve month low of $116.57 and a twelve month high of $180.68. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 1.06.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 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 firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm earned $2.16 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Allegion has set its FY 2025 guidance at 8.100-8.200 EPS. As a group, equities research analysts predict that Allegion will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

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

Allegion Company Profile

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.