Cibc World Market Inc. Takes Position in Allegion plc (NYSE:ALLE)

Cibc World Market Inc. purchased a new stake in Allegion plc (NYSE:ALLEGet Rating) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 8,452 shares of the scientific and technical instruments company’s stock, valued at approximately $827,000.

Other large investors have also made changes to their positions in the company. State of Michigan Retirement System increased its holdings in Allegion by 0.4% during the 1st quarter. State of Michigan Retirement System now owns 26,544 shares of the scientific and technical instruments company’s stock valued at $2,914,000 after acquiring an additional 93 shares in the last quarter. Veritable L.P. increased its holdings in Allegion by 3.2% during the 1st quarter. Veritable L.P. now owns 3,771 shares of the scientific and technical instruments company’s stock valued at $414,000 after acquiring an additional 117 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Allegion by 85.1% during the 1st quarter. First Horizon Advisors Inc. now owns 274 shares of the scientific and technical instruments company’s stock valued at $31,000 after acquiring an additional 126 shares in the last quarter. Heritage Wealth Advisors increased its holdings in Allegion by 66.5% during the 2nd quarter. Heritage Wealth Advisors now owns 333 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 133 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Allegion by 61.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 363 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 91.06% of the company’s stock.

Insider Buying and Selling at Allegion

In other news, CEO John H. Stone purchased 12,500 shares of Allegion stock in a transaction dated Friday, October 28th. The stock was bought at an average price of $104.45 per share, with a total value of $1,305,625.00. Following the completion of the acquisition, the chief executive officer now owns 64,535 shares in the company, valued at approximately $6,740,680.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.79% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Credit Suisse Group raised their target price on shares of Allegion from $108.00 to $116.00 and gave the company a “neutral” rating in a report on Friday, October 28th. Morgan Stanley raised their price target on shares of Allegion from $98.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Friday, October 28th. Wells Fargo & Company raised their price target on shares of Allegion from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. Barclays decreased their price target on shares of Allegion from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, October 3rd. Finally, Mizuho decreased their target price on shares of Allegion from $125.00 to $114.00 and set a “buy” rating on the stock in a research report on Wednesday, September 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $118.00.

Allegion Trading Up 2.0 %

ALLE opened at $112.96 on Monday. The firm has a market capitalization of $9.92 billion, a P/E ratio of 23.01, a P/E/G ratio of 2.86 and a beta of 1.07. The firm’s 50 day moving average is $97.89 and its 200-day moving average is $101.53. Allegion plc has a 52-week low of $87.33 and a 52-week high of $136.66. The company has a quick ratio of 1.10, a current ratio of 1.79 and a debt-to-equity ratio of 2.79.

Allegion (NYSE:ALLEGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The scientific and technical instruments company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.19. Allegion had a net margin of 13.96% and a return on equity of 59.82%. The business had revenue of $913.70 million during the quarter, compared to analyst estimates of $873.58 million. During the same quarter in the previous year, the firm earned $1.56 earnings per share. The business’s revenue was up 27.4% compared to the same quarter last year. Analysts expect that Allegion plc will post 5.46 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a dividend of $0.41 per share. The ex-dividend date was Thursday, September 15th. This represents a $1.64 annualized dividend and a yield of 1.45%. Allegion’s payout ratio is 33.40%.

Allegion Company Profile

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Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, 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 and door systems; and other accessories.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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