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

CIBC Asset Management Inc grew its position in Allegion plc (NYSE:ALLE) by 343.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,289 shares of the scientific and technical instruments company’s stock after buying an additional 83,865 shares during the quarter. CIBC Asset Management Inc’s holdings in Allegion were worth $14,114,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Sanctuary Advisors LLC raised its position in shares of Allegion by 9.9% in the 4th quarter. Sanctuary Advisors LLC now owns 20,745 shares of the scientific and technical instruments company’s stock worth $2,770,000 after acquiring an additional 1,874 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Allegion in the 4th quarter worth $2,124,000. New York State Teachers Retirement System raised its position in shares of Allegion by 8.6% in the 4th quarter. New York State Teachers Retirement System now owns 78,497 shares of the scientific and technical instruments company’s stock worth $10,258,000 after acquiring an additional 6,213 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Allegion by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 34,030 shares of the scientific and technical instruments company’s stock worth $4,491,000 after acquiring an additional 227 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Allegion by 8.1% in the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after acquiring an additional 257,175 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Down 5.6 %

NYSE:ALLE opened at $125.94 on Wednesday. The company has a market cap of $10.95 billion, a PE ratio of 19.35, a P/E/G ratio of 3.19 and a beta of 1.11. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The company’s 50 day moving average is $132.14 and its two-hundred day moving average is $137.42.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.75 by $0.11. Allegion had a net margin of 15.36% and a return on equity of 45.64%. 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. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.62%. This is a boost from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. Allegion’s payout ratio is presently 29.49%.

Insider Buying and Selling at Allegion

In other news, CEO John H. Stone bought 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the purchase, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Robert W. Baird boosted their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Barclays lowered their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Morgan Stanley started coverage on shares of Allegion in a research note on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price for the company. Finally, Wells Fargo & Company dropped their target price on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $140.83.

Allegion 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.