CIBC Asset Management Inc Sells 4,453 Shares of Allegion PLC $ALLE

CIBC Asset Management Inc decreased its stake in shares of Allegion PLC (NYSE:ALLE) by 3.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 145,689 shares of the scientific and technical instruments company’s stock after selling 4,453 shares during the period. CIBC Asset Management Inc owned 0.17% of Allegion worth $23,157,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Allegion by 7.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,592 shares of the scientific and technical instruments company’s stock valued at $1,251,000 after purchasing an additional 626 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Allegion by 35.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,272 shares of the scientific and technical instruments company’s stock worth $427,000 after buying an additional 854 shares during the period. Jones Financial Companies Lllp grew its stake in Allegion by 44.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,629 shares of the scientific and technical instruments company’s stock valued at $213,000 after buying an additional 499 shares during the last quarter. Empowered Funds LLC grew its stake in Allegion by 13.0% in the 1st quarter. Empowered Funds LLC now owns 5,673 shares of the scientific and technical instruments company’s stock valued at $740,000 after buying an additional 651 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in Allegion by 204.5% in the 1st quarter. Focus Partners Wealth now owns 7,186 shares of the scientific and technical instruments company’s stock worth $937,000 after acquiring an additional 4,826 shares during the period. 92.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Robert W. Baird set a $165.00 target price on shares of Allegion in a research report on Wednesday, April 29th. Evercore upgraded Allegion to a “strong-buy” rating in a research note on Monday, April 13th. Bank of America cut their price objective on Allegion from $185.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Weiss Ratings downgraded Allegion from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $150.00 target price (down from $170.00) on shares of Allegion in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $160.38.

Insider Activity at Allegion

In other news, Director Sue Main purchased 2,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was purchased at an average price of $149.61 per share, with a total value of $299,220.00. Following the acquisition, the director directly owned 2,000 shares in the company, valued at approximately $299,220. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Robert C. Martens sold 3,993 shares of Allegion stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $137.15, for a total value of $547,639.95. Following the sale, the senior vice president directly owned 8,570 shares in the company, valued at $1,175,375.50. The trade was a 31.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.64% of the company’s stock.

Allegion Price Performance

Shares of Allegion stock opened at $130.38 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.91 and a quick ratio of 1.19. The company has a market cap of $11.20 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.70 and a beta of 0.86. The firm has a fifty day moving average price of $137.79 and a two-hundred day moving average price of $153.03. Allegion PLC has a fifty-two week low of $125.00 and a fifty-two week high of $183.11.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.08). The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Allegion had a return on equity of 35.41% and a net margin of 15.24%.The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. Analysts expect that Allegion PLC will post 8.74 EPS for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, June 15th. Allegion’s payout ratio is currently 30.05%.

Allegion declared that its board has approved a share repurchase program on Tuesday, April 28th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the scientific and technical instruments company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.