CANADA LIFE ASSURANCE Co Trims Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

CANADA LIFE ASSURANCE Co reduced its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 20.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,472 shares of the auto parts company's stock after selling 3,665 shares during the period. CANADA LIFE ASSURANCE Co's holdings in Allison Transmission were worth $1,563,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SRH Advisors LLC purchased a new stake in Allison Transmission during the 4th quarter valued at about $26,000. World Investment Advisors LLC bought a new position in shares of Allison Transmission in the third quarter worth approximately $29,000. Kestra Investment Management LLC bought a new position in shares of Allison Transmission in the fourth quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Allison Transmission in the fourth quarter worth $31,000. Finally, Proficio Capital Partners LLC bought a new stake in Allison Transmission during the 4th quarter valued at $42,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Allison Transmission Stock Up 5.2 %

Shares of ALSN traded up $4.87 on Friday, hitting $98.26. 356,952 shares of the stock traded hands, compared to its average volume of 637,827. Allison Transmission Holdings, Inc. has a one year low of $71.49 and a one year high of $122.53. The company has a market capitalization of $8.37 billion, a PE ratio of 11.90 and a beta of 0.95. The business has a 50 day simple moving average of $93.91 and a 200 day simple moving average of $105.43. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.42 and a current ratio of 3.04.

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, topping the consensus estimate of $1.97 by $0.26. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. The firm had revenue of $766.00 million during the quarter, compared to analysts' expectations of $792.18 million. During the same quarter in the previous year, the business earned $1.90 earnings per share. The company's revenue was down 2.9% on a year-over-year basis. As a group, equities analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.27 dividend. The ex-dividend date was Monday, March 3rd. This is a positive change from Allison Transmission's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.10%. Allison Transmission's payout ratio is currently 13.00%.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Raymond James cut their price target on shares of Allison Transmission from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Citigroup reduced their price target on Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price objective on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Morgan Stanley decreased their target price on Allison Transmission from $112.00 to $94.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, StockNews.com cut shares of Allison Transmission from a "buy" rating to a "hold" rating in a report on Saturday, April 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Allison Transmission currently has an average rating of "Hold" and an average price target of $97.88.

Insider Activity

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 value 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 $1,466,938.04. The trade was a 10.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Ryan A. Milburn sold 4,546 shares of the 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 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 owned by corporate 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.