Bank of New York Mellon Corp Sells 8,296 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Bank of New York Mellon Corp cut its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 582,648 shares of the auto parts company's stock after selling 8,296 shares during the period. Bank of New York Mellon Corp owned approximately 0.68% of Allison Transmission worth $55,742,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Allison Transmission by 1.9% in the fourth quarter. FMR LLC now owns 12,993,015 shares of the auto parts company's stock worth $1,404,025,000 after purchasing an additional 247,318 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Allison Transmission by 3.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,652,996 shares of the auto parts company's stock worth $286,683,000 after buying an additional 76,840 shares during the last quarter. Loomis Sayles & Co. L P increased its stake 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 valued at $257,046,000 after buying an additional 1,785,687 shares during the period. Norges Bank bought a new position in shares of Allison Transmission during the fourth quarter valued at approximately $108,916,000. Finally, Federated Hermes Inc. lifted its stake in Allison Transmission by 3.9% in the fourth quarter. Federated Hermes Inc. now owns 956,691 shares of the auto parts company's stock worth $103,380,000 after acquiring an additional 36,065 shares during the period. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Allison Transmission Stock Down 0.5%

Shares of Allison Transmission stock traded down $0.48 during midday trading on Wednesday, hitting $89.07. The company had a trading volume of 768,761 shares, compared to its average volume of 677,386. Allison Transmission Holdings, Inc. has a 52-week low of $78.71 and a 52-week high of $122.53. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.37 and a current ratio of 3.05. The stock has a market capitalization of $7.50 billion, a P/E ratio of 10.31 and a beta of 0.96. The company has a 50 day moving average of $98.99 and a 200 day moving average of $100.80.

Allison Transmission (NYSE:ALSN - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $792.18 million. Allison Transmission had a return on equity of 46.97% and a net margin of 23.55%. The company's revenue was down 2.9% on a year-over-year basis. During the same period last year, the company earned $1.90 earnings per share. On average, equities analysts predict that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Monday, May 19th. Allison Transmission's payout ratio is 12.50%.

Wall Street Analyst Weigh In

Several research analysts have commented on ALSN shares. JPMorgan Chase & Co. decreased their price objective on shares of 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 increased their price target on shares of Allison Transmission from $94.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Raymond James Financial cut 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. Citigroup decreased their target price on Allison Transmission from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group raised their target price on Allison Transmission from $80.00 to $90.00 and gave the company a "sell" rating in a research note on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $99.00.

Insider Buying and Selling at Allison Transmission

In related news, VP Ryan A. Milburn sold 3,412 shares of Allison Transmission stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $105.24, for a total value of $359,078.88. Following the completion of the sale, the vice president directly owned 11,924 shares in the company, valued at approximately $1,254,881.76. This trade represents a 22.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

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.