Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 1.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 582,648 shares of the auto parts company's stock after selling 8,296 shares during the quarter. Bank of New York Mellon Corp owned about 0.68% of Allison Transmission worth $55,742,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Loomis Sayles & Co. L P increased its stake in Allison Transmission by 301.1% in 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 purchasing an additional 1,785,687 shares during the last quarter. Norges Bank purchased a new position in Allison Transmission in the fourth quarter valued at approximately $108,916,000. Caisse DE Depot ET Placement DU Quebec increased its stake 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 last quarter. Raymond James Financial Inc. purchased a new position in Allison Transmission in the fourth quarter valued at approximately $41,081,000. Finally, FMR LLC increased its stake 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 last quarter. Institutional investors and hedge funds own 96.90% of the company's stock.

Insider Activity

In related news, VP Ryan A. Milburn sold 3,412 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $105.24, for a total value of $359,078.88. Following the sale, 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

Allison Transmission Stock Down 3.9%

Shares of ALSN stock traded down $3.76 during trading hours on Friday, reaching $91.75. The company had a trading volume of 924,841 shares, compared to its average volume of 676,056. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.37 and a current ratio of 3.05. Allison Transmission Holdings, Inc. has a twelve month low of $77.39 and a twelve month high of $122.53. The company has a market capitalization of $7.73 billion, a P/E ratio of 10.62 and a beta of 0.96. The stock's fifty day simple moving average is $99.30 and its 200 day simple moving average is $101.07.

Allison Transmission (NYSE:ALSN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The auto parts company reported $2.23 EPS for the quarter, beating analysts' consensus estimates 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%. Allison Transmission's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.90 earnings per share. As a group, sell-side analysts expect that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Monday, May 19th. Allison Transmission's dividend payout ratio (DPR) is 12.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALSN shares. Raymond James Financial lowered their target price on shares of Allison Transmission from $115.00 to $110.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on shares of Allison Transmission from $110.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Bank of America raised their target price on shares of Allison Transmission from $74.00 to $79.00 and gave the stock an "underperform" rating in a research report on Monday, June 16th. Robert W. Baird lowered their target price on shares of Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Citigroup decreased their price target on Allison Transmission from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, June 24th. Two research 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $99.00.

Allison Transmission Company 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.