Cresset Asset Management LLC Sells 26,103 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Cresset Asset Management LLC cut its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 85.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,429 shares of the auto parts company's stock after selling 26,103 shares during the quarter. Cresset Asset Management LLC's holdings in Allison Transmission were worth $479,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Transce3nd LLC purchased a new stake in shares of Allison Transmission during the fourth quarter valued at $25,000. SRH Advisors LLC purchased a new stake in shares of Allison Transmission during the fourth quarter valued at $26,000. Kestra Investment Management LLC purchased a new stake in shares of Allison Transmission during the fourth quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Allison Transmission during the fourth quarter valued at $31,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Allison Transmission during the fourth quarter valued at $42,000. 96.90% of the stock is currently owned by institutional investors.

Allison Transmission Trading Up 0.2%

Allison Transmission stock opened at $105.20 on Thursday. The business has a 50-day simple moving average of $94.16 and a two-hundred day simple moving average of $105.49. The company has a market cap of $8.86 billion, a P/E ratio of 12.66 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.

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

Allison Transmission declared that its board has approved a share buyback 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 repurchase up to 57.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Allison Transmission Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.03%. Allison Transmission's dividend payout ratio (DPR) is presently 12.50%.

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 stock was 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 approximately $1,466,938.04. The trade was a 10.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the vice president now 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 ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ALSN. Robert W. Baird dropped 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. Morgan Stanley increased their price objective on Allison Transmission from $94.00 to $100.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Raymond James dropped their price objective 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. StockNews.com raised Allison Transmission from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Citigroup cut their price target on Allison Transmission from $108.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Two investment 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 MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $98.63.

About Allison Transmission

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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