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

CIBC Asset Management Inc boosted its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 343.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,289 shares of the scientific and technical instruments company's stock after acquiring an additional 83,865 shares during the period. CIBC Asset Management Inc owned 0.12% of Allegion worth $14,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Allegion by 1.2% in the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company's stock worth $589,659,000 after buying an additional 49,929 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Allegion by 8.1% in the fourth quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company's stock valued at $449,033,000 after acquiring an additional 257,175 shares during the last quarter. Geode Capital Management LLC raised its holdings in Allegion by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company's stock valued at $306,699,000 after buying an additional 8,023 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Allegion by 13.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company's stock worth $277,581,000 after purchasing an additional 232,395 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in shares of Allegion by 96.8% in the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company's stock valued at $244,063,000 after buying an additional 823,874 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the sale, the chief accounting officer now directly owns 4,972 shares in the company, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gregg C. Sengstack purchased 8,000 shares of Allegion stock in a transaction on Wednesday, February 19th. The stock was purchased at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the transaction, the director now owns 8,000 shares of the company's stock, valued at approximately $1,001,920. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on ALLE shares. Robert W. Baird cut their target price on shares of Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a research note on Wednesday. Wells Fargo & Company lowered their price objective on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a report on Wednesday. StockNews.com downgraded Allegion from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Finally, Barclays decreased their price target on shares of Allegion from $134.00 to $130.00 and set an "underweight" rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $138.33.

Allegion Price Performance

Allegion stock traded up $0.05 during midday trading on Friday, hitting $127.16. The company's stock had a trading volume of 871,149 shares, compared to its average volume of 890,566. The company has a quick ratio of 1.29, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The stock's 50-day moving average price is $131.32 and its 200-day moving average price is $137.24. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The company has a market capitalization of $10.97 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 3.99 and a beta of 1.11.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.11. The business had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. Analysts anticipate that Allegion plc will post 7.7 earnings per share for the current fiscal year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.60%. This is an increase from Allegion's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. Allegion's dividend payout ratio (DPR) is presently 28.15%.

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.