CIBC Asset Management Inc Has $430,000 Position in Allegion PLC (ALLE)
CIBC Asset Management Inc lowered its stake in shares of Allegion PLC (NYSE:ALLE) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,396 shares of the scientific and technical instruments company’s stock after selling 135 shares during the period. CIBC Asset Management Inc’s holdings in Allegion were worth $430,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of ALLE. Pictet Asset Management Ltd. acquired a new stake in shares of Allegion during the third quarter valued at $150,690,000. Nordea Investment Management AB acquired a new stake in Allegion in the 3rd quarter worth about $83,058,000. BlackRock Inc. boosted its stake in Allegion by 14.3% in the 4th quarter. BlackRock Inc. now owns 6,900,253 shares of the scientific and technical instruments company’s stock worth $550,018,000 after buying an additional 861,515 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in Allegion by 43.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,413,198 shares of the scientific and technical instruments company’s stock worth $218,563,000 after buying an additional 734,596 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its stake in Allegion by 374.0% in the 3rd quarter. Royal London Asset Management Ltd. now owns 468,806 shares of the scientific and technical instruments company’s stock worth $33,680,000 after buying an additional 369,901 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on ALLE. Zacks Investment Research lowered Allegion from a “hold” rating to a “sell” rating in a research note on Wednesday, February 6th. Morgan Stanley set a $92.00 price target on Allegion and gave the stock a “hold” rating in a research note on Wednesday, February 20th. ValuEngine lowered Allegion from a “buy” rating to a “hold” rating in a research note on Wednesday, December 5th. Finally, Goldman Sachs Group lowered Allegion from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $98.00 to $92.00 in a research note on Wednesday, February 20th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Allegion has a consensus rating of “Hold” and a consensus target price of $94.40.
Allegion (NYSE:ALLE) last released its quarterly earnings data on Tuesday, February 19th. The scientific and technical instruments company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.01. The business had revenue of $702.40 million for the quarter, compared to analyst estimates of $703.17 million. Allegion had a return on equity of 77.42% and a net margin of 15.92%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.11 EPS. Sell-side analysts expect that Allegion PLC will post 4.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.27 dividend. This is a positive change from Allegion’s previous quarterly dividend of $0.21. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, March 14th. Allegion’s payout ratio is currently 18.67%.
In other news, VP Chris E. Muhlenkamp sold 618 shares of Allegion stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $91.56, for a total value of $56,584.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Timothy P. Eckersley sold 11,175 shares of Allegion stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $88.95, for a total value of $994,016.25. Following the completion of the transaction, the vice president now directly owns 27,643 shares in the company, valued at $2,458,844.85. The disclosure for this sale can be found here. Insiders sold a total of 67,129 shares of company stock worth $5,928,592 over the last ninety days. Corporate insiders own 0.75% of the company’s stock.
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Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.
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