Burgundy Asset Management Ltd. Reduces Stake in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Burgundy Asset Management Ltd. decreased its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,471,792 shares of the auto parts company's stock after selling 572,044 shares during the quarter. Allison Transmission comprises approximately 2.7% of Burgundy Asset Management Ltd.'s investment portfolio, making the stock its 6th biggest holding. Burgundy Asset Management Ltd. owned about 2.85% of Allison Transmission worth $267,102,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ALSN. Taylor Hoffman Capital Management LLC lifted its stake in Allison Transmission by 3.5% in the fourth quarter. Taylor Hoffman Capital Management LLC now owns 49,591 shares of the auto parts company's stock valued at $5,359,000 after buying an additional 1,668 shares during the period. Delta Investment Management LLC increased its stake in shares of Allison Transmission by 3.4% in the 4th quarter. Delta Investment Management LLC now owns 4,540 shares of the auto parts company's stock valued at $491,000 after acquiring an additional 151 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Allison Transmission by 10.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 304,230 shares of the auto parts company's stock valued at $32,875,000 after acquiring an additional 28,490 shares during the period. Williams Jones Wealth Management LLC. boosted its stake in Allison Transmission by 8.7% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 6,884 shares of the auto parts company's stock worth $744,000 after acquiring an additional 550 shares during the last quarter. Finally, Vident Advisory LLC grew its holdings in Allison Transmission by 1.0% during the fourth quarter. Vident Advisory LLC now owns 10,182 shares of the auto parts company's stock valued at $1,100,000 after purchasing an additional 102 shares during the period. 96.90% of the stock is owned by institutional investors.

Allison Transmission Stock Up 0.2%

NYSE:ALSN traded up $0.23 during trading hours on Wednesday, reaching $104.82. 212,561 shares of the stock were exchanged, compared to its average volume of 639,047. The stock has a market cap of $8.83 billion, a PE ratio of 12.60 and a beta of 0.97. Allison Transmission Holdings, Inc. has a twelve month low of $71.49 and a twelve month high of $122.53. The firm has a 50 day moving average of $95.52 and a 200 day moving average of $105.16. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42.

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

Allison Transmission Dividend Announcement

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

Allison Transmission declared that its Board of Directors has approved a stock buyback program on Thursday, February 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the auto parts company to repurchase up to 57.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ALSN. Citigroup cut their target price on shares of Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group boosted 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. Wall Street Zen upgraded Allison Transmission from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Raymond James cut their price objective on Allison Transmission from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Allison Transmission from $110.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $98.13.

Insider Activity at Allison Transmission

In related news, SVP John Coll sold 1,788 shares of Allison Transmission stock in a transaction dated 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 owns 15,388 shares in the company, valued at approximately $1,466,938.04. This trade represents a 10.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Ryan A. Milburn sold 4,546 shares of the company'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 completion of the sale, the vice president now owns 14,138 shares in the company, valued at $1,360,075.60. This represents a 24.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,746 shares of company stock valued at $966,854. Insiders own 1.20% of the company's stock.

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.