Burgundy Asset Management Ltd. Cuts Stock Holdings in Allison Transmission Holdings, Inc. $ALSN

Key Points

• Burgundy Asset Management Ltd. trimmed its Allison Transmission stake by 0.8% in Q3, selling 17,778 shares and now holds 2,210,926 shares (about 2.66% of ALSN) worth roughly $193 million, making it the firm's 19th-largest position.
• Allison increased its quarterly dividend to $0.29 from $0.27 (annualized $1.16), with an ex-dividend date of March 9 and a payment scheduled for March 20, implying a yield of about 0.9%.
• Insider activity and market view: SVP John Coll sold 1,791 shares on Dec. 31 at an average $98.79 (reducing his holding ~15.16%); institutional investors own ~96.9% of the stock and analysts carry a consensus "Hold" rating with a $111.11 target.

Burgundy Asset Management Ltd. lessened its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 0.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,210,926 shares of the auto parts company's stock after selling 17,778 shares during the period. Allison Transmission comprises 1.8% of Burgundy Asset Management Ltd.'s holdings, making the stock its 19th biggest position. Burgundy Asset Management Ltd. owned 2.66% of Allison Transmission worth $193,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rossby Financial LCC raised its stake in Allison Transmission by 107.0% in the third quarter. Rossby Financial LCC now owns 296 shares of the auto parts company's stock worth $25,000 after buying an additional 153 shares in the last quarter. Employees Retirement System of Texas purchased a new position in shares of Allison Transmission in the 2nd quarter valued at $38,000. True Wealth Design LLC raised its position in shares of Allison Transmission by 93.2% in the 3rd quarter. True Wealth Design LLC now owns 452 shares of the auto parts company's stock worth $38,000 after acquiring an additional 218 shares in the last quarter. First Horizon Corp bought a new position in shares of Allison Transmission in the 3rd quarter worth $40,000. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Allison Transmission by 4,716.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 578 shares of the auto parts company's stock worth $49,000 after purchasing an additional 566 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP John Coll sold 1,791 shares of Allison Transmission stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $98.79, for a total transaction of $176,932.89. Following the completion of the sale, the senior vice president owned 10,021 shares of the company's stock, valued at $989,974.59. The trade was a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Allison Transmission Trading Up 1.5%

NYSE:ALSN opened at $126.68 on Thursday. The company has a market capitalization of $10.49 billion, a P/E ratio of 17.28, a PEG ratio of 0.82 and a beta of 0.96. The company has a current ratio of 4.85, a quick ratio of 4.17 and a debt-to-equity ratio of 1.55. Allison Transmission Holdings, Inc. has a 12 month low of $76.01 and a 12 month high of $128.85. The firm has a fifty day simple moving average of $111.42 and a 200-day simple moving average of $95.70.

Allison Transmission Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Monday, March 9th will be issued a $0.29 dividend. This is a boost from Allison Transmission's previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, March 9th. Allison Transmission's dividend payout ratio is currently 14.73%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Morgan Stanley lifted their target price on Allison Transmission from $97.00 to $109.00 and gave the company an "equal weight" rating in a research note on Friday, January 23rd. Citigroup boosted their price objective on shares of Allison Transmission from $110.00 to $130.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 25th. Oppenheimer raised their target price on shares of Allison Transmission from $115.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. lifted their price target on shares of Allison Transmission from $87.00 to $115.00 and gave the stock a "neutral" rating in a report on Wednesday, January 14th. Finally, Wells Fargo & Company increased their price objective on Allison Transmission from $98.00 to $127.00 and gave the company an "equal weight" rating in a report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $111.11.

Allison Transmission Company Profile

Allison Transmission Holdings Inc is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company's products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison's core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.

In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.