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

CIBC Asset Management Inc grew its position in Allegion plc (NYSE:ALLE - Free Report) by 107.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,424 shares of the scientific and technical instruments company's stock after purchasing an additional 12,659 shares during the period. CIBC Asset Management Inc's holdings in Allegion were worth $3,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALLE. McClarren Financial Advisors Inc. raised its stake in shares of Allegion by 61.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company's stock worth $27,000 after purchasing an additional 72 shares in the last quarter. Crewe Advisors LLC boosted its position in shares of Allegion by 160.2% during the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company's stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Concord Wealth Partners acquired a new position in Allegion during the third quarter worth about $29,000. Cromwell Holdings LLC lifted its stake in shares of Allegion by 65.2% in the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company's stock valued at $34,000 after acquiring an additional 92 shares during the last quarter. Finally, Gradient Investments LLC acquired a new position in Allegion in the 2nd quarter valued at approximately $38,000. 92.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the sale, the senior vice president now directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ALLE shares. Wells Fargo & Company raised their target price on Allegion from $137.00 to $152.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Barclays increased their price target on shares of Allegion from $135.00 to $137.00 and gave the company an "underweight" rating in a research report on Monday, October 28th. StockNews.com raised Allegion from a "hold" rating to a "buy" rating in a report on Saturday, July 27th. Mizuho boosted their price target on shares of Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Finally, Robert W. Baird increased their price objective on Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $144.60.

Allegion Price Performance

Allegion stock traded down $0.51 during midday trading on Tuesday, hitting $138.13. 522,436 shares of the company's stock were exchanged, compared to its average volume of 723,062. The company has a market cap of $12.01 billion, a P/E ratio of 21.32, a PEG ratio of 3.33 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The stock has a 50-day moving average price of $143.88 and a two-hundred day moving average price of $131.92. Allegion plc has a 52-week low of $103.19 and a 52-week high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The firm had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same period in the prior year, the company earned $1.94 EPS. The company's revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, September 20th. Allegion's dividend payout ratio is currently 29.49%.

About Allegion

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.