Allegion plc (NYSE:ALLE) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 64.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,073 shares of the scientific and technical instruments company's stock after buying an additional 5,533 shares during the quarter. Canada Pension Plan Investment Board's holdings in Allegion were worth $1,839,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ALLE. Millstone Evans Group LLC acquired a new stake in Allegion during the 4th quarter worth approximately $28,000. Atala Financial Inc acquired a new stake in shares of Allegion during the fourth quarter worth $35,000. Private Trust Co. NA grew its position in 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 buying an additional 115 shares during the last quarter. Tortoise Investment Management LLC increased its stake 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 valued at $51,000 after buying an additional 170 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Allegion by 33.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock worth $53,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Robert W. Baird upped their price objective on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday. Morgan Stanley increased their price objective on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Barclays boosted their target price on shares of Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a research report on Friday. Finally, Wells Fargo & Company cut their price target on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $140.40.

Allegion Price Performance

Shares of Allegion stock traded up $0.16 on Tuesday, hitting $137.42. The company's stock had a trading volume of 118,838 shares, compared to its average volume of 828,116. The company has a market capitalization of $11.84 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The firm has a fifty day moving average price of $127.48 and a 200-day moving average price of $133.54. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.18. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The company had revenue of $941.90 million for the quarter, compared to the consensus estimate of $918.53 million. During the same quarter in the prior year, the firm earned $1.55 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts expect that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.48%. Allegion's dividend payout ratio (DPR) is 28.65%.

Insider Transactions at Allegion

In related news, SVP Tracy L. Kemp sold 2,032 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the transaction, the senior vice president now owns 10,273 shares of the company's stock, valued at approximately $1,302,000.02. The trade was a 16.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregg C. Sengstack acquired 8,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was purchased at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the transaction, the director now owns 8,000 shares of the company's stock, valued at approximately $1,001,920. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 3,224 shares of company stock valued at $406,636 over the last three months. 0.33% of the stock is currently owned by insiders.

About Allegion

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.