Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 55,233 shares of the auto parts company's stock after acquiring an additional 4,831 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.06% of Allison Transmission worth $5,969,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC lifted its stake in Allison Transmission by 1.9% during the fourth quarter. FMR LLC now owns 12,993,015 shares of the auto parts company's stock worth $1,404,025,000 after purchasing an additional 247,318 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Allison Transmission by 301.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 2,378,731 shares of the auto parts company's stock valued at $257,046,000 after buying an additional 1,785,687 shares during the period. Allianz Asset Management GmbH lifted its stake in Allison Transmission by 7.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,061,351 shares of the auto parts company's stock worth $114,690,000 after acquiring an additional 69,008 shares in the last quarter. Norges Bank acquired a new position in Allison Transmission in the 4th quarter valued at about $108,916,000. Finally, Federated Hermes Inc. increased its stake in Allison Transmission by 3.9% during the fourth quarter. Federated Hermes Inc. now owns 956,691 shares of the auto parts company's stock worth $103,380,000 after purchasing an additional 36,065 shares during the period. Hedge funds and other institutional investors own 96.90% of the company's stock.

Allison Transmission Stock Performance

Shares of ALSN opened at $97.05 on Friday. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 11.68 and a beta of 0.97. Allison Transmission Holdings, Inc. has a 52-week low of $71.49 and a 52-week high of $122.53. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45. The stock has a 50 day moving average price of $93.86 and a 200 day moving average price of $105.46.

Allison Transmission (NYSE:ALSN - Get Free Report) last issued its 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. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. The business had revenue of $766.00 million during the quarter, compared to analysts' expectations of $792.18 million. During the same quarter in the prior year, the business posted $1.90 EPS. The company's revenue for the quarter was down 2.9% on a year-over-year basis. Research analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Increases Dividend

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

Allison Transmission declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to buy up to 57.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Allison Transmission from $112.00 to $94.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Robert W. Baird cut their price objective on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Citigroup reduced their price objective on Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. cut their price target on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, StockNews.com upgraded Allison Transmission from a "hold" rating to a "buy" rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Allison Transmission presently has an average rating of "Hold" and a consensus target price of $97.88.

Insider Activity at Allison Transmission

In other news, 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 completion of the sale, the vice president now directly owns 14,138 shares of the company's stock, valued at approximately $1,360,075.60. This represents a 24.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John Coll sold 1,788 shares of Allison Transmission stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $95.33, for a total transaction of $170,450.04. Following the completion of the transaction, the senior vice president now directly owns 15,388 shares in the company, valued at $1,466,938.04. The trade was a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Allison Transmission Company Profile

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.

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