Cibc World Markets Corp Increases Stock Holdings in Allegion plc (NYSE:ALLE)

Cibc World Markets Corp raised its holdings in Allegion plc (NYSE:ALLE) by 16.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,719 shares of the scientific and technical instruments company’s stock after buying an additional 1,907 shares during the quarter. Cibc World Markets Corp’s holdings in Allegion were worth $1,793,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALLE. Public Employees Retirement System of Ohio purchased a new position in shares of Allegion in the 3rd quarter valued at approximately $4,988,000. Crew Capital Management Ltd. increased its stake in Allegion by 224.9% during the 4th quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company’s stock valued at $759,000 after purchasing an additional 4,022 shares in the last quarter. Qsemble Capital Management LP purchased a new position in shares of Allegion in the third quarter worth $891,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Allegion by 4.5% during the fourth 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 buying an additional 8,806 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Allegion by 4.4% during the fourth 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 buying an additional 49,176 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ALLE. Wells Fargo & Company lowered their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Morgan Stanley upped their target price on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Barclays lowered their price target on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. Finally, Robert W. Baird lowered their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $138.33.

Allegion Stock Down 0.4 %

ALLE stock opened at $127.17 on Friday. 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 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The firm has a 50-day simple moving average of $129.67 and a 200-day simple moving average of $136.46. The stock has a market capitalization of $10.97 billion, a P/E ratio of 18.65, a P/E/G ratio of 3.97 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 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Equities analysts forecast that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. 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 1.60%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is presently 29.91%.

Insiders Place Their Bets

In other Allegion news, Director Gregg C. Sengstack bought 8,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were acquired at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at $1,001,920. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the sale, the chief accounting officer now owns 4,972 shares of the company’s stock, valued at $620,008.40. This trade represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,224 shares of company stock valued at $406,636 in the last 90 days. 0.33% of the stock is owned by insiders.

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.