Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 9.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,462 shares of the auto parts company's stock after selling 6,800 shares during the period. State of Alaska Department of Revenue owned about 0.07% of Allison Transmission worth $5,975,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in ALSN. CWA Asset Management Group LLC increased its position in Allison Transmission by 26.2% during the 1st quarter. CWA Asset Management Group LLC now owns 15,010 shares of the auto parts company's stock valued at $1,436,000 after purchasing an additional 3,117 shares during the period. Optivise Advisory Services LLC bought a new position in shares of Allison Transmission during the first quarter valued at approximately $222,000. Precision Wealth Strategies LLC increased its holdings in Allison Transmission by 29.9% during the first quarter. Precision Wealth Strategies LLC now owns 4,808 shares of the auto parts company's stock valued at $460,000 after buying an additional 1,108 shares during the period. Janney Montgomery Scott LLC raised its stake in Allison Transmission by 3.8% in the first quarter. Janney Montgomery Scott LLC now owns 75,793 shares of the auto parts company's stock worth $7,251,000 after buying an additional 2,793 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in Allison Transmission by 18.4% during the first quarter. Ritholtz Wealth Management now owns 24,602 shares of the auto parts company's stock worth $2,354,000 after buying an additional 3,818 shares during the period. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Bank of America increased 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. The Goldman Sachs Group raised their price objective on Allison Transmission from $80.00 to $90.00 and gave the company a "sell" rating in a research report on Tuesday, May 27th. Robert W. Baird reduced their target price on shares of Allison Transmission from $123.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Raymond James Financial decreased their price target on shares of Allison Transmission from $115.00 to $110.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Citigroup cut their price objective on shares of Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $98.38.

Allison Transmission Stock Down 1.7%

Allison Transmission stock traded down $1.56 during midday trading on Friday, reaching $90.66. The company's stock had a trading volume of 1,511,094 shares, compared to its average volume of 664,769. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.05 and a quick ratio of 2.37. The stock has a market capitalization of $7.64 billion, a P/E ratio of 10.49 and a beta of 1.00. The stock's 50-day simple moving average is $97.93 and its 200-day simple moving average is $103.17. Allison Transmission Holdings, Inc. has a 52-week low of $73.65 and a 52-week high of $122.53.

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 the consensus estimate of $1.97 by $0.26. The firm had revenue of $766.00 million during the quarter, compared to analyst estimates of $792.18 million. Allison Transmission had a net margin of 23.55% and a return on equity of 46.97%. Allison Transmission's revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $1.90 EPS. On average, sell-side analysts expect that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, May 19th. This represents a $1.08 annualized dividend and a dividend yield of 1.19%. Allison Transmission's payout ratio is currently 12.50%.

Insider Activity

In related news, VP Ryan A. Milburn sold 3,412 shares of the 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 transaction, the vice president now owns 11,924 shares in the company, valued at approximately $1,254,881.76. This represents a 22.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Coll sold 1,788 shares of the firm'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 transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Corporate insiders own 1.10% 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.