CIBC Asset Management Inc Has $23.16 Million Stock Holdings in Allegion PLC $ALLE

CIBC Asset Management Inc decreased its holdings in shares of Allegion PLC (NYSE:ALLE) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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’s holdings in Allegion were worth $23,157,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in shares of Allegion by 26.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 673,495 shares of the scientific and technical instruments company’s stock valued at $107,234,000 after purchasing an additional 142,258 shares during the period. Westpac Banking Corp bought a new stake in Allegion in the fourth quarter valued at $107,000. Dynasty Wealth Management LLC raised its stake in Allegion by 6.4% during the fourth quarter. Dynasty Wealth Management LLC now owns 6,304 shares of the scientific and technical instruments company’s stock worth $1,004,000 after acquiring an additional 378 shares in the last quarter. Natixis Advisors LLC raised its stake in Allegion by 6.9% during the fourth quarter. Natixis Advisors LLC now owns 66,472 shares of the scientific and technical instruments company’s stock worth $10,583,000 after acquiring an additional 4,269 shares in the last quarter. Finally, AXQ Capital LP bought a new position in shares of Allegion during the fourth quarter valued at $898,000. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ALLE shares. Wells Fargo & Company reduced their target price on shares of Allegion from $175.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $150.00 price target (down from $170.00) on shares of Allegion in a report on Friday, May 15th. Robert W. Baird set a $165.00 price target on shares of Allegion in a research report on Wednesday, April 29th. Evercore raised shares of Allegion to a “strong-buy” rating in a research note on Monday, April 13th. Finally, Morgan Stanley dropped their price objective on shares of Allegion from $165.00 to $142.00 and set an “equal weight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $160.38.

Allegion Price Performance

Allegion stock opened at $130.38 on Friday. The business’s fifty day moving average is $137.79 and its two-hundred day moving average is $153.03. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91. The firm has a market cap of $11.20 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.70 and a beta of 0.86. Allegion PLC has a 52 week low of $125.00 and a 52 week high of $183.11.

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

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, June 15th. Allegion’s dividend payout ratio (DPR) is presently 30.05%.

Allegion declared that its Board of Directors has approved a share buyback plan on Tuesday, April 28th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Allegion

In other Allegion news, SVP Robert C. Martens sold 3,993 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $137.15, for a total value of $547,639.95. Following the completion of the transaction, the senior vice president directly owned 8,570 shares of the company’s stock, valued at approximately $1,175,375.50. The trade was a 31.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sue Main bought 2,000 shares of Allegion stock in a transaction dated Wednesday, March 11th. The shares were bought at an average price of $149.61 per share, for a total transaction of $299,220.00. Following the completion of the transaction, the director directly owned 2,000 shares of the company’s stock, valued at $299,220. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.64% of the company’s stock.

Allegion 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.