Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Purchased by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC raised its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 70.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,400 shares of the auto parts company's stock after purchasing an additional 4,300 shares during the period. Allison Transmission comprises 1.7% of Cannon Global Investment Management LLC's portfolio, making the stock its 9th biggest position. Cannon Global Investment Management LLC's holdings in Allison Transmission were worth $995,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ALSN. Loomis Sayles & Co. L P increased its position in Allison Transmission by 301.1% during the 4th 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 in the last quarter. Norges Bank acquired a new position in Allison Transmission during the 4th quarter valued at about $108,916,000. Caisse DE Depot ET Placement DU Quebec increased its position in Allison Transmission by 4,877.2% during the 4th 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 buying an additional 435,587 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Allison Transmission during the 4th quarter valued at about $41,081,000. Finally, FMR LLC increased its position in Allison Transmission by 1.9% during the 4th quarter. FMR LLC now owns 12,993,015 shares of the auto parts company's stock valued at $1,404,025,000 after buying an additional 247,318 shares in the last quarter. 96.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup lowered their target price on Allison Transmission from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 24th. Bank of America raised their target price on Allison Transmission from $74.00 to $79.00 and gave the company an "underperform" rating in a research report on Monday, June 16th. Robert W. Baird reduced their price objective on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley lifted their price objective on Allison Transmission from $94.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. reduced their target price on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Allison Transmission currently has a consensus rating of "Hold" and an average price target of $99.00.

Allison Transmission Stock Performance

ALSN stock traded up $0.16 on Friday, reaching $97.87. The company's stock had a trading volume of 828,293 shares, compared to its average volume of 669,187. Allison Transmission Holdings, Inc. has a 52 week low of $74.28 and a 52 week high of $122.53. The company has a market capitalization of $8.25 billion, a P/E ratio of 11.33 and a beta of 0.96. The firm has a fifty day moving average of $99.21 and a two-hundred day moving average of $101.56. 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 (NYSE:ALSN - Get Free Report) last released its earnings results on Thursday, May 1st. The auto parts company reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.97 by $0.26. The company had revenue of $766.00 million during the quarter, compared to analyst estimates 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 for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. As a group, analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Monday, May 19th. Allison Transmission's dividend payout ratio (DPR) is presently 12.50%.

Insider Buying and Selling

In other news, VP Ryan A. Milburn sold 3,412 shares of Allison Transmission stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $105.24, for a total value of $359,078.88. Following the completion of the transaction, the vice president owned 11,924 shares in the company, valued at approximately $1,254,881.76. The trade was a 22.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

Allison Transmission 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.