Connor Clark & Lunn Investment Management Ltd. Invests $11.60 Million in Allegion plc (NYSE:ALLE)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Allegion plc (NYSE:ALLE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,772 shares of the scientific and technical instruments company’s stock, valued at approximately $11,601,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of Allegion as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ALLE. Avantax Advisory Services Inc. grew its position in Allegion by 9.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,107 shares of the scientific and technical instruments company’s stock valued at $537,000 after purchasing an additional 365 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Allegion in the fourth quarter valued at $20,913,000. Farther Finance Advisors LLC grew its position in Allegion by 12.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,162 shares of the scientific and technical instruments company’s stock valued at $152,000 after purchasing an additional 132 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Allegion by 78.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,459 shares of the scientific and technical instruments company’s stock valued at $321,000 after purchasing an additional 1,082 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Allegion by 0.8% in the fourth quarter. HighTower Advisors LLC now owns 239,735 shares of the scientific and technical instruments company’s stock valued at $31,329,000 after purchasing an additional 1,875 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at Allegion

In other Allegion news, Director Gregg C. Sengstack acquired 8,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was purchased at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $1,001,920. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 $1,302,000.02. This represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock valued at $406,636 in the last quarter. Company insiders own 0.33% of the company’s stock.

Allegion Stock Performance

Shares of ALLE stock opened at $126.73 on Friday. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 3.97 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The company has a 50-day simple moving average of $129.68 and a 200 day simple moving average of $136.80. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10.

Allegion (NYSE:ALLE) last announced its 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. The business had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. On average, sell-side analysts predict that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is an increase from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 1.61%. Allegion’s payout ratio is presently 29.91%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Barclays decreased their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Robert W. Baird decreased their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Morgan Stanley lifted their price objective on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. One equities research 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, Allegion presently has a consensus rating of “Hold” and an average price target of $138.33.

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.