Allegion PLC (NYSE:ALLE) Sees Large Increase in Short Interest

Allegion PLC (NYSE:ALLE) was the recipient of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 3,443,899 shares, a growth of 36.3% from the February 26th total of 2,526,672 shares. Based on an average daily volume of 945,241 shares, the short-interest ratio is currently 3.6 days. Approximately 4.0% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, Director Sue Main bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was bought at an average price of $149.61 per share, with a total value of $299,220.00. Following the acquisition, the director owned 2,000 shares of the company’s stock, valued at approximately $299,220. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven Mizell sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $161.51, for a total value of $161,510.00. Following the sale, the director directly owned 4,915 shares in the company, valued at approximately $793,821.65. This represents a 16.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Allegion

Large investors have recently bought and sold shares of the business. Hsbc Holdings PLC increased its stake in Allegion by 2.9% in the fourth quarter. Hsbc Holdings PLC now owns 34,469 shares of the scientific and technical instruments company’s stock worth $5,527,000 after purchasing an additional 956 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Allegion by 16.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 19,372 shares of the scientific and technical instruments company’s stock valued at $3,085,000 after purchasing an additional 2,717 shares during the period. PEAK6 LLC purchased a new stake in shares of Allegion during the fourth quarter valued at $366,000. Corient Private Wealth LLC grew its holdings in shares of Allegion by 2.3% in the fourth quarter. Corient Private Wealth LLC now owns 7,413 shares of the scientific and technical instruments company’s stock worth $1,180,000 after purchasing an additional 170 shares during the last quarter. Finally, Compound Planning Inc. grew its holdings in shares of Allegion by 11.5% in the fourth quarter. Compound Planning Inc. now owns 2,515 shares of the scientific and technical instruments company’s stock worth $400,000 after purchasing an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the subject of several research analyst reports. Barclays cut their target price on Allegion from $180.00 to $176.00 and set an “equal weight” rating for the company in a research report on Monday, February 23rd. Wells Fargo & Company restated a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. cut their target price on Allegion from $190.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $175.00.

Allegion Trading Down 0.9%

Shares of Allegion stock traded down $1.29 during trading on Friday, hitting $144.50. The stock had a trading volume of 573,830 shares, compared to its average volume of 889,843. Allegion has a 12 month low of $116.57 and a 12 month high of $183.11. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.84 and a quick ratio of 1.16. The firm’s fifty day simple moving average is $160.02 and its 200-day simple moving average is $164.86. The stock has a market cap of $12.45 billion, a PE ratio of 19.42, a PEG ratio of 3.13 and a beta of 1.03.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.07). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Allegion had a net margin of 15.83% and a return on equity of 38.06%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 earnings per share. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, sell-side analysts expect that Allegion will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.55 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from Allegion’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. Allegion’s dividend payout ratio (DPR) is currently 29.57%.

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.