Norris Perne & French LLP MI Decreases Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Norris Perne & French LLP MI cut its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 299,890 shares of the auto parts company's stock after selling 8,244 shares during the period. Allison Transmission makes up approximately 2.2% of Norris Perne & French LLP MI's holdings, making the stock its 13th largest holding. Norris Perne & French LLP MI owned about 0.35% of Allison Transmission worth $28,691,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. 111 Capital acquired a new position in Allison Transmission in the fourth quarter valued at $599,000. Jefferies Financial Group Inc. purchased a new position in shares of Allison Transmission in the 4th quarter worth about $901,000. Public Employees Retirement System of Ohio lifted its stake in shares of Allison Transmission by 35.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 57,788 shares of the auto parts company's stock valued at $6,245,000 after purchasing an additional 14,994 shares in the last quarter. EAM Investors LLC purchased a new stake in shares of Allison Transmission during the 4th quarter worth about $5,766,000. Finally, Teacher Retirement System of Texas grew its holdings in shares of 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 purchasing an additional 6,728 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Allison Transmission news, VP Ryan A. Milburn sold 3,412 shares of Allison Transmission 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 now owns 11,924 shares of the company's stock, valued at $1,254,881.76. The trade was a 22.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John Coll sold 1,788 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total value of $170,450.04. Following the transaction, the senior vice president now owns 15,388 shares of the company's stock, valued at $1,466,938.04. This trade represents a 10.41% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Allison Transmission Trading Down 1.4%

NYSE:ALSN opened at $92.08 on Thursday. Allison Transmission Holdings, Inc. has a one year low of $73.65 and a one year high of $122.53. The business's 50-day simple moving average is $97.86 and its 200 day simple moving average is $103.34. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.37 and a current ratio of 3.05. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 10.66 and a beta of 1.00.

Allison Transmission (NYSE:ALSN - Get Free Report) last released its earnings results on Thursday, May 1st. The auto parts company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.97 by $0.26. The company had revenue of $766.00 million during the quarter, compared to analysts' expectations of $792.18 million. Allison Transmission had a return on equity of 46.97% and a net margin of 23.55%. The business's revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 EPS. As a group, sell-side analysts predict that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

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

Allison Transmission Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Monday, May 19th. Allison Transmission's dividend payout ratio is presently 12.50%.

Analysts Set New Price Targets

A number of research analysts have weighed in on ALSN shares. Bank of America lifted their price target on shares of Allison Transmission from $74.00 to $79.00 and gave the company an "underperform" rating in a research report on Monday. Citigroup reduced 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. Wall Street Zen upgraded Allison Transmission from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Morgan Stanley upped their target price 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, 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $98.38.

Allison Transmission Company 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.

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