CIBC Private Wealth Group LLC Grows Position in Allegion plc (NYSE:ALLE)

CIBC Private Wealth Group LLC grew its position in shares of Allegion plc (NYSE:ALLE) by 71.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,371 shares of the scientific and technical instruments company’s stock after buying an additional 571 shares during the period. CIBC Private Wealth Group LLC’s holdings in Allegion were worth $176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ALLE. Millstone Evans Group LLC purchased a new position in Allegion in the fourth quarter valued at $28,000. Atala Financial Inc acquired a new stake in shares of Allegion during the 4th quarter valued at about $35,000. Private Trust Co. NA increased its stake in shares of Allegion by 56.1% in the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after purchasing an additional 115 shares in the last quarter. Tortoise Investment Management LLC raised its holdings in Allegion by 78.0% in the 4th quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock worth $51,000 after purchasing an additional 170 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Allegion by 33.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock worth $53,000 after purchasing an additional 101 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allegion

In related news, SVP Tracy L. Kemp sold 2,032 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the sale, the senior vice president now directly owns 10,273 shares of the company’s stock, valued at approximately $1,302,000.02. This trade represents a 16.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David S. Ilardi sold 789 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the transaction, the senior vice president now directly owns 9,625 shares of the company’s stock, valued at approximately $1,205,820. This trade represents a 7.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock worth $406,636 in the last 90 days. Insiders own 0.33% of the company’s stock.

Allegion Stock Performance

Shares of Allegion stock opened at $123.53 on Monday. The business’s 50 day moving average price is $129.10 and its 200 day moving average price is $135.78. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 3.97 and a beta of 1.01. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. Allegion plc has a one year low of $113.27 and a one year high of $156.10.

Allegion (NYSE:ALLE) last posted its quarterly earnings results 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. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. On average, research analysts predict that Allegion plc will post 7.77 EPS for the current year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.51 dividend. This is a boost from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 1.65%. Allegion’s dividend payout ratio is 29.91%.

Analyst Ratings Changes

ALLE has been the subject of several research analyst reports. Morgan Stanley upped their target price on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Barclays lowered their price objective on Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company decreased their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Robert W. Baird decreased their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $137.67.

Allegion Company 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.