Pinebridge Investments L.P. Invests $650,000 in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Pinebridge Investments L.P. purchased a new stake in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 6,014 shares of the auto parts company's stock, valued at approximately $650,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ALSN. Loomis Sayles & Co. L P grew its holdings in shares of Allison Transmission by 301.1% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,378,731 shares of the auto parts company's stock worth $257,046,000 after buying an additional 1,785,687 shares in the last quarter. Norges Bank purchased a new stake in Allison Transmission during the 4th quarter worth about $108,916,000. Raymond James Financial Inc. purchased a new stake in shares of Allison Transmission during the 4th quarter worth $41,081,000. FMR LLC boosted its holdings in Allison Transmission by 1.9% in the fourth quarter. FMR LLC now owns 12,993,015 shares of the auto parts company's stock valued at $1,404,025,000 after purchasing an additional 247,318 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Allison Transmission by 177.7% during the 4th quarter. Alliancebernstein L.P. now owns 144,951 shares of the auto parts company's stock worth $15,663,000 after acquiring an additional 92,754 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on ALSN shares. Citigroup decreased their price objective on Allison Transmission from $108.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. StockNews.com raised shares of Allison Transmission from a "hold" rating to a "buy" rating in a report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Allison Transmission from $110.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Raymond James reduced their price objective on shares of Allison Transmission from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, Robert W. Baird lowered their target price on shares of Allison Transmission from $123.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Allison Transmission currently has a consensus rating of "Hold" and an average price target of $97.88.

Insider Buying and Selling at Allison Transmission

In related news, SVP John Coll sold 1,788 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total value of $170,450.04. Following the completion of the sale, the senior vice president now directly owns 15,388 shares of the company's stock, valued at $1,466,938.04. The trade was a 10.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Ryan A. Milburn sold 4,546 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total value of $437,325.20. Following the transaction, the vice president now directly owns 14,138 shares in the company, valued at approximately $1,360,075.60. This represents a 24.33 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Allison Transmission Trading Up 3.9 %

ALSN stock traded up $3.66 during midday trading on Friday, reaching $97.05. 1,372,990 shares of the company's stock traded hands, compared to its average volume of 641,946. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42. Allison Transmission Holdings, Inc. has a fifty-two week low of $71.49 and a fifty-two week high of $122.53. The business has a 50-day moving average price of $93.86 and a two-hundred day moving average price of $105.42. The company has a market capitalization of $8.27 billion, a P/E ratio of 11.68 and a beta of 0.97.

Allison Transmission (NYSE:ALSN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The auto parts company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.26. The firm had revenue of $766.00 million during the quarter, compared to the consensus estimate of $792.18 million. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. The firm's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 EPS. Equities research analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.27 per share. This is an increase from Allison Transmission's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.08 annualized dividend and a yield of 1.11%. Allison Transmission's payout ratio is 12.50%.

Allison Transmission declared that its board has approved a share repurchase program on Thursday, February 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the auto parts company to reacquire up to 57.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

About Allison Transmission

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.