Allegion PLC (NYSE:ALLE) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 5,266,400 shares, a growth of 12.3% from the July 31st total of 4,689,100 shares. Based on an average daily trading volume, of 722,400 shares, the days-to-cover ratio is presently 7.3 days. Approximately 5.7% of the company’s stock are sold short.

Several analysts have recently weighed in on the stock. ValuEngine downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays upped their price target on shares of Allegion from $105.00 to $114.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Wells Fargo & Co upped their price target on shares of Allegion from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Credit Suisse Group downgraded shares of Allegion from an “outperform” rating to a “neutral” rating and upped their price target for the company from $108.00 to $112.00 in a research report on Monday, July 8th. They noted that the move was a valuation call. Finally, Bank of America upped their price target on shares of Allegion from $114.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $105.88.

ALLE traded up $1.73 during trading on Friday, hitting $102.06. The stock had a trading volume of 359,164 shares, compared to its average volume of 660,668. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.12 and a current ratio of 1.71. The firm has a market capitalization of $9.46 billion, a P/E ratio of 22.68, a PEG ratio of 1.80 and a beta of 1.19. The company’s 50-day moving average price is $98.46 and its 200 day moving average price is $98.73. Allegion has a twelve month low of $74.83 and a twelve month high of $111.99.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, July 25th. The scientific and technical instruments company reported $1.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.05). Allegion had a return on equity of 68.47% and a net margin of 15.65%. The company had revenue of $731.20 million for the quarter, compared to analyst estimates of $750.76 million. During the same period last year, the company earned $1.19 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts expect that Allegion will post 4.84 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.06%. Allegion’s dividend payout ratio (DPR) is presently 24.00%.

Several large investors have recently bought and sold shares of the company. Carlson Capital L P purchased a new stake in shares of Allegion in the 2nd quarter worth about $26,922,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Allegion by 6.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 78,122 shares of the scientific and technical instruments company’s stock worth $8,497,000 after buying an additional 4,852 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in shares of Allegion in the 1st quarter worth about $220,000. FMR LLC boosted its position in shares of Allegion by 13.5% in the 1st quarter. FMR LLC now owns 1,815,943 shares of the scientific and technical instruments company’s stock worth $164,724,000 after buying an additional 215,361 shares in the last quarter. Finally, Horizon Investments LLC purchased a new stake in shares of Allegion in the 1st quarter worth about $232,000. 92.52% of the stock is currently owned by institutional investors and hedge funds.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.

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