Allegion to replace J.C. Penney in S&P 500

|By:, SA News Editor

Ingersoll-Rand (IR) home/business security spinoff Allegion will be taking struggling J.C. Penney's (JCP) place in the S&P 500. Deutsche recently raised this possibility.

J.C. Penney will subsequently join the S&P 400. The change will take place following the Nov. 29 close.

JCP -1.4% AH.