AQR Capital Management LLC Cuts Stock Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

AQR Capital Management LLC cut its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,545,087 shares of the auto parts company's stock after selling 219,101 shares during the quarter. AQR Capital Management LLC owned approximately 1.78% of Allison Transmission worth $166,962,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Loomis Sayles & Co. L P grew its stake in 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 acquiring an additional 1,785,687 shares during the period. Norges Bank purchased a new stake in Allison Transmission during the 4th quarter worth about $108,916,000. Raymond James Financial Inc. acquired a new stake in shares of Allison Transmission during the fourth quarter worth about $41,081,000. FMR LLC increased its position in Allison Transmission by 1.9% in the 4th quarter. FMR LLC now owns 12,993,015 shares of the auto parts company's stock valued at $1,404,025,000 after acquiring an additional 247,318 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Allison Transmission by 177.7% in the 4th quarter. Alliancebernstein L.P. now owns 144,951 shares of the auto parts company's stock valued at $15,663,000 after purchasing an additional 92,754 shares in the last quarter. Institutional investors and hedge funds own 96.90% of the company's stock.

Allison Transmission Stock Performance

NYSE ALSN opened at $92.15 on Tuesday. The business has a 50-day moving average price of $94.38 and a 200-day moving average price of $105.66. Allison Transmission Holdings, Inc. has a twelve month low of $71.49 and a twelve month 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 firm has a market cap of $7.85 billion, a price-to-earnings ratio of 11.09 and a beta of 0.95.

Allison Transmission (NYSE:ALSN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. As a group, equities 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 1.17%. The ex-dividend date was Monday, March 3rd. Allison Transmission's payout ratio is presently 13.00%.

Allison Transmission announced that its Board of Directors has initiated a share buyback plan on Thursday, February 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the auto parts company to buy up to 57.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ALSN shares. Citigroup dropped 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. Morgan Stanley lowered their price target on shares of Allison Transmission from $112.00 to $94.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. StockNews.com downgraded shares of Allison Transmission from a "buy" rating to a "hold" rating in a research report on Saturday, April 19th. Raymond James lowered 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 decreased their price target on shares of Allison Transmission from $123.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $97.88.

Insider Activity at Allison Transmission

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

Allison Transmission 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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