Comerica Bank reduced its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 13.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,804 shares of the auto parts company's stock after selling 6,138 shares during the quarter. Comerica Bank's holdings in Allison Transmission were worth $4,409,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of ALSN. Loomis Sayles & Co. L P increased its holdings in shares of Allison Transmission by 301.1% during 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 purchasing an additional 1,785,687 shares in the last quarter. Norges Bank purchased a new position in Allison Transmission in the fourth quarter valued at $108,916,000. Raymond James Financial Inc. acquired a new position in shares of Allison Transmission in the fourth quarter worth about $41,081,000. FMR LLC boosted its stake in shares of Allison Transmission by 1.9% during the 4th quarter. FMR LLC now owns 12,993,015 shares of the auto parts company's stock worth $1,404,025,000 after acquiring an additional 247,318 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Allison Transmission by 177.7% during the 4th quarter. Alliancebernstein L.P. now owns 144,951 shares of the auto parts company's stock valued at $15,663,000 after acquiring an additional 92,754 shares during the period. 96.90% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, VP Ryan A. Milburn sold 4,546 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $96.20, for a total transaction 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 trade represents a 24.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John Coll sold 1,788 shares of the company's stock in a transaction dated 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 position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
Allison Transmission Trading Up 1.3 %
ALSN opened at $98.54 on Tuesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42. The company's 50 day simple moving average is $93.82 and its two-hundred day simple moving average is $105.48. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 11.86 and a beta of 0.97. Allison Transmission Holdings, Inc. has a 1-year low of $71.49 and a 1-year high of $122.53.
Allison Transmission (NYSE:ALSN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The auto parts company reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.97 by $0.26. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. The company had revenue of $766.00 million for the quarter, compared to analyst estimates of $792.18 million. During the same quarter in the previous year, the company posted $1.90 earnings per share. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. Analysts expect that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.
Allison Transmission declared that its board has authorized a share buyback program on Thursday, February 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the auto parts company to buy up to 57.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.
Allison Transmission Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.27 per share. This is a boost from Allison Transmission's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.10%. The ex-dividend date was Monday, March 3rd. Allison Transmission's dividend payout ratio (DPR) is presently 12.50%.
Analysts Set New Price Targets
A number of brokerages have issued reports on ALSN. Raymond James lowered their price target on Allison Transmission from $115.00 to $110.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Robert W. Baird dropped their price target on shares of Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reduced 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 research report on Wednesday, April 16th. Citigroup dropped their target price on shares of Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded shares of Allison Transmission from a "hold" rating to a "buy" rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $97.88.
Get Our Latest Stock Report on Allison Transmission
About Allison Transmission
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding ALSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report).
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