Allianz Asset Management GmbH cut its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,048,219 shares of the auto parts company's stock after selling 13,132 shares during the period. Allianz Asset Management GmbH owned about 1.23% of Allison Transmission worth $100,283,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of ALSN. Loomis Sayles & Co. L P increased its holdings in shares of Allison Transmission by 301.1% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,378,731 shares of the auto parts company's stock worth $257,046,000 after buying an additional 1,785,687 shares in the last quarter. Norges Bank acquired a new stake in Allison Transmission in the fourth quarter valued at $108,916,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in Allison Transmission by 4,877.2% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 444,518 shares of the auto parts company's stock valued at $48,035,000 after purchasing an additional 435,587 shares during the period. Raymond James Financial Inc. acquired a new stake in Allison Transmission in the fourth quarter valued at $41,081,000. Finally, FMR LLC increased its holdings in Allison Transmission by 1.9% in the fourth quarter. FMR LLC now owns 12,993,015 shares of the auto parts company's stock valued at $1,404,025,000 after purchasing an additional 247,318 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, VP Ryan A. Milburn sold 3,412 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $105.24, for a total value of $359,078.88. Following the transaction, the vice president owned 11,924 shares of the company's stock, valued at approximately $1,254,881.76. This trade represents a 22.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on ALSN shares. Wall Street Zen downgraded Allison Transmission from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. 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 report on Tuesday, May 6th. Robert W. Baird decreased their price objective on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Citigroup decreased their price objective on Allison Transmission from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. decreased their price target on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $98.38.
Check Out Our Latest Report on ALSN
Allison Transmission Stock Up 0.3%
Shares of ALSN stock traded up $0.30 on Friday, reaching $88.29. 163,235 shares of the company were exchanged, compared to its average volume of 770,958. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 10.22 and a beta of 0.96. The company has a 50-day moving average of $96.98 and a 200-day moving average of $99.84. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.05 and a quick ratio of 2.37. Allison Transmission Holdings, Inc. has a one year low of $78.71 and a one 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.97 by $0.26. The company had revenue of $766.00 million for the quarter, compared to analysts' expectations of $792.18 million. Allison Transmission had a net margin of 23.55% and a return on equity of 46.97%. The business's revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 EPS. Analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current year.
Allison Transmission Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a dividend of $0.27 per share. The ex-dividend date was Monday, May 19th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.22%. Allison Transmission's dividend payout ratio (DPR) is presently 12.50%.
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.
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