Jennison Associates LLC Purchases 133,635 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Jennison Associates LLC increased its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 26.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 640,217 shares of the auto parts company's stock after purchasing an additional 133,635 shares during the period. Jennison Associates LLC owned approximately 0.75% of Allison Transmission worth $61,250,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Proficio Capital Partners LLC purchased a new position in Allison Transmission in the fourth quarter valued at $42,000. Commonwealth Equity Services LLC raised its position in shares of Allison Transmission by 15.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 25,776 shares of the auto parts company's stock worth $2,785,000 after acquiring an additional 3,472 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Allison Transmission by 14.5% during the fourth quarter. Teacher Retirement System of Texas now owns 53,014 shares of the auto parts company's stock worth $5,729,000 after purchasing an additional 6,728 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Allison Transmission during the fourth quarter worth approximately $739,000. Finally, Whittier Trust Co. acquired a new position in Allison Transmission in the fourth quarter valued at approximately $61,000. Hedge funds and other institutional investors own 96.90% of the company's stock.

Allison Transmission Stock Performance

ALSN stock traded down $0.36 during midday trading on Monday, reaching $86.63. The company had a trading volume of 651,902 shares, compared to its average volume of 679,654. The firm has a market capitalization of $7.30 billion, a PE ratio of 10.02 and a beta of 0.96. The stock has a 50 day moving average price of $98.40 and a 200 day moving average price of $100.34. Allison Transmission Holdings, Inc. has a fifty-two week low of $78.71 and a fifty-two week high of $122.53. The company has a quick ratio of 2.37, a current ratio of 3.05 and a debt-to-equity ratio of 1.44.

Allison Transmission (NYSE:ALSN - Get Free Report) last announced its quarterly earnings data 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. Allison Transmission had a return on equity of 46.97% and a net margin of 23.55%. The company had revenue of $766.00 million during the quarter, compared to the consensus estimate of $792.18 million. During the same quarter in the prior year, the firm earned $1.90 EPS. The company's quarterly revenue was down 2.9% compared to the same quarter last year. Analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current year.

Allison Transmission Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Monday, May 19th. Allison Transmission's payout ratio is 12.50%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALSN. JPMorgan Chase & Co. reduced their price objective on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Bank of America increased their price target on shares of Allison Transmission from $74.00 to $79.00 and gave the stock an "underperform" rating in a research note on Monday, June 16th. Raymond James Financial lowered their price objective on shares of Allison Transmission from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday. Citigroup reduced their target price on shares of Allison Transmission from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, June 24th. Finally, Robert W. Baird lowered their price target on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $98.38.

Insider Buying and Selling at Allison Transmission

In other news, VP Ryan A. Milburn sold 3,412 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $105.24, for a total transaction of $359,078.88. Following the sale, the vice president owned 11,924 shares in the company, valued at approximately $1,254,881.76. This represents a 22.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company's stock.

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.