Millennium Management LLC Sells 29,812 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Millennium Management LLC lessened its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 187,251 shares of the auto parts company's stock after selling 29,812 shares during the period. Millennium Management LLC owned about 0.22% of Allison Transmission worth $20,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EAM Investors LLC acquired a new stake in Allison Transmission during the 4th quarter worth about $5,766,000. Smith Group Asset Management LLC acquired a new stake in Allison Transmission during the 4th quarter worth about $2,161,000. Allspring Global Investments Holdings LLC raised its holdings in Allison Transmission by 18.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company's stock worth $31,643,000 after buying an additional 46,435 shares during the period. Teacher Retirement System of Texas raised its holdings in Allison Transmission by 14.5% during the 4th quarter. Teacher Retirement System of Texas now owns 53,014 shares of the auto parts company's stock worth $5,729,000 after buying an additional 6,728 shares during the period. Finally, Convergence Investment Partners LLC raised its holdings in Allison Transmission by 115.6% during the 4th quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company's stock worth $1,507,000 after buying an additional 7,479 shares during the period. Institutional investors and hedge funds own 96.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ALSN shares. Citigroup cut their price objective on Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Raymond James dropped their target price on Allison Transmission from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Robert W. Baird dropped their target price on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Wall Street Zen upgraded Allison Transmission from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. dropped their target price on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Allison Transmission has an average rating of "Hold" and an average target price of $98.63.

Allison Transmission Stock Down 1.1%

NYSE:ALSN traded down $1.15 during mid-day trading on Monday, reaching $102.38. The stock had a trading volume of 564,574 shares, compared to its average volume of 641,388. The business's 50 day moving average is $95.41 and its 200 day moving average is $105.17. Allison Transmission Holdings, Inc. has a fifty-two week low of $71.49 and a fifty-two week high of $122.53. The stock has a market cap of $8.63 billion, a P/E ratio of 12.32 and a beta of 0.97. 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 released its quarterly earnings data on Thursday, May 1st. The auto parts company reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $1.97 by $0.26. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. The firm had revenue of $766.00 million for the quarter, compared to the consensus estimate 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. As a group, sell-side analysts predict that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current year.

Allison Transmission Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.08 dividend on an annualized basis and a yield of 1.05%. Allison Transmission's dividend payout ratio is currently 12.50%.

Allison Transmission announced that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the auto parts company to reacquire up to 57.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Allison Transmission news, SVP John Coll sold 1,788 shares of the company's stock in a transaction that occurred on 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 sale, the senior vice president now owns 15,388 shares of the company's stock, valued at $1,466,938.04. This represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ryan A. Milburn sold 4,546 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total value of $437,325.20. Following the sale, the vice president now directly owns 14,138 shares of the company's stock, valued at $1,360,075.60. The trade was a 24.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,746 shares of company stock worth $966,854. Insiders own 1.10% 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.