Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 13.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,251 shares of the auto parts company's stock after selling 29,812 shares during the quarter. Millennium Management LLC owned approximately 0.22% of Allison Transmission worth $20,234,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Transce3nd LLC purchased a new stake in Allison Transmission in the 4th quarter worth $25,000. SRH Advisors LLC purchased a new stake in Allison Transmission in the 4th quarter worth $26,000. Kestra Investment Management LLC purchased a new stake in Allison Transmission in the 4th quarter worth $30,000. SJS Investment Consulting Inc. increased its holdings in Allison Transmission by 1,650.0% in the 4th quarter. SJS Investment Consulting Inc. now owns 420 shares of the auto parts company's stock worth $45,000 after acquiring an additional 396 shares in the last quarter. Finally, Whittier Trust Co. purchased a new stake in Allison Transmission in the 4th quarter worth $61,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Ryan A. Milburn sold 4,546 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $96.20, for a total transaction of $437,325.20. Following the transaction, the vice president now owns 14,138 shares of the company's stock, valued at approximately $1,360,075.60. The trade was a 24.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John Coll sold 1,788 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were 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 directly owns 15,388 shares in the company, valued at $1,466,938.04. The trade was a 10.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,746 shares of company stock valued at $966,854. 1.10% of the stock is currently owned by insiders.

Allison Transmission Price Performance

ALSN traded down $1.15 on Friday, hitting $102.38. 564,574 shares of the company's stock were exchanged, compared to its average volume of 640,176. Allison Transmission Holdings, Inc. has a fifty-two week low of $71.49 and a fifty-two week high of $122.53. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average price of $95.34 and a 200-day moving average price of $105.46. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 12.32 and a beta of 0.97.

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

Allison Transmission declared that its board has approved a share buyback plan on Thursday, February 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire up to 57.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Allison Transmission Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, May 19th. This represents a $1.08 annualized dividend and a dividend yield of 1.05%. Allison Transmission's payout ratio is 12.50%.

Wall Street Analysts Forecast Growth

ALSN has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on shares of Allison Transmission from $94.00 to $100.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Raymond James cut their price target on shares of Allison Transmission from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Wall Street Zen raised shares of Allison Transmission from a "hold" rating to a "buy" rating in a report on Monday, May 12th. 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 note on Friday, April 11th. Finally, Citigroup lowered their target price on shares of Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Allison Transmission currently has an average rating of "Hold" and an average price target of $98.63.

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.