CIBC Asset Management Inc Increases Stock Holdings in Allegion plc (NYSE:ALLE)

CIBC Asset Management Inc boosted its position in Allegion plc (NYSE:ALLE) by 343.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 108,289 shares of the scientific and technical instruments company’s stock after purchasing an additional 83,865 shares during the period. CIBC Asset Management Inc owned about 0.12% of Allegion worth $14,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Allegion during the 3rd quarter valued at about $4,988,000. Qsemble Capital Management LP bought a new stake in Allegion during the 3rd quarter valued at approximately $891,000. Nordea Investment Management AB raised its stake in Allegion by 4.4% during the 4th quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock valued at $154,643,000 after purchasing an additional 49,176 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Allegion by 4.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock worth $26,724,000 after acquiring an additional 8,806 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Allegion by 4.1% in 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 acquiring an additional 340 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Allegion

In other news, CEO John H. Stone bought 7,500 shares of the stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ALLE shares. Barclays reduced their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Robert W. Baird lifted their target price on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company dropped their target price on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, 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. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $140.83.

Allegion Price Performance

ALLE opened at $125.94 on Wednesday. The business has a fifty day moving average of $132.14 and a 200 day moving average of $137.42. Allegion plc 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 stock has a market cap of $10.95 billion, a P/E ratio of 19.35, a PEG ratio of 3.19 and a beta of 1.11.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. Allegion had a return on equity of 45.64% and a net margin of 15.36%. As a group, sell-side analysts anticipate that Allegion plc will post 7.41 EPS for the current year.

Allegion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 1.62%. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s payout ratio is presently 29.49%.

Allegion Company Profile

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.