CIBC Asset Management Inc Has $3.56 Million Holdings in Allegion plc (NYSE:ALLE)

CIBC Asset Management Inc increased its position in Allegion plc (NYSE:ALLE) by 107.6% in the third quarter, according to its most recent 13F filing 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.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. boosted its position in shares of Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 72 shares during the period. Crewe Advisors LLC lifted its stake in Allegion by 160.2% in 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 purchased a new position in Allegion during the 3rd quarter valued at about $29,000. Cromwell Holdings LLC increased its holdings 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 purchasing an additional 92 shares during the period. Finally, Gradient Investments LLC purchased a new stake in shares of Allegion in the second quarter worth approximately $38,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Performance

Shares of NYSE ALLE opened at $138.64 on Tuesday. The business’s 50-day simple moving average is $143.80 and its 200-day simple moving average is $131.81. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion plc has a 52 week low of $103.19 and a 52 week high of $156.10. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 3.31 and a beta of 1.11.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, topping 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 company had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. During the same period in the previous year, the business posted $1.94 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts expect that Allegion plc will post 7.41 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Friday, September 20th. Allegion’s dividend payout ratio is currently 29.49%.

Analyst Ratings Changes

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

Insider Activity at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the sale, the senior vice president now owns 7,104 shares of the company’s stock, valued at $1,029,511.68. The trade was a 53.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

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.