Bank of America Corp DE Sells 41,407 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Bank of America Corp DE reduced its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 619,015 shares of the auto parts company's stock after selling 41,407 shares during the period. Bank of America Corp DE owned about 0.71% of Allison Transmission worth $66,891,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Transce3nd LLC acquired a new position in Allison Transmission in the fourth quarter valued at approximately $25,000. SRH Advisors LLC acquired a new stake in shares of Allison Transmission during the 4th quarter worth approximately $26,000. Kestra Investment Management LLC bought a new stake in shares of Allison Transmission in the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Allison Transmission during the 4th quarter valued at approximately $31,000. Finally, SJS Investment Consulting Inc. grew its stake in Allison Transmission by 1,650.0% during the 4th quarter. SJS Investment Consulting Inc. now owns 420 shares of the auto parts company's stock worth $45,000 after buying an additional 396 shares during the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALSN has been the topic of a number of recent research reports. Citigroup cut their target price 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. Raymond James reduced their target price on shares of Allison Transmission from $115.00 to $110.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. StockNews.com upgraded shares of Allison Transmission from a "hold" rating to a "buy" rating in a research report on Monday. 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, Robert W. Baird decreased their price target on 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 equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Allison Transmission currently has an average rating of "Hold" and an average target price of $98.63.

Insider Buying and Selling

In related news, SVP John Coll sold 1,788 shares of Allison Transmission stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total transaction of $170,450.04. Following the completion of the sale, the senior vice president now owns 15,388 shares of the company's stock, valued at approximately $1,466,938.04. This trade represents a 10.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ryan A. Milburn sold 4,546 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $96.20, for a total value of $437,325.20. Following the completion of the transaction, the vice president now owns 14,138 shares in the company, valued at $1,360,075.60. This trade 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 1.1%

NYSE ALSN traded up $1.13 on Friday, hitting $106.29. 622,208 shares of the stock were exchanged, compared to its average volume of 640,178. The company's 50-day moving average price is $94.34 and its two-hundred day moving average price is $105.53. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 12.79 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 debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42.

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

Allison Transmission Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, May 19th. Allison Transmission's dividend payout ratio (DPR) is 12.50%.

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

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.