Vestcor Inc Buys 6,552 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Key Points

• Vestcor Inc increased its stake in Allison Transmission Holdings, Inc. by 84%, owning 14,354 shares worth $1.37 million as of the latest quarter.
• Allison Transmission recently declared a quarterly dividend of $0.27 per share, indicating a 1.2% dividend yield and a payout ratio of 12.50%.
• Despite a recent earnings beat, analysts have mixed ratings for Allison Transmission, with price targets ranging from $74.00 to $110.00.

Vestcor Inc grew its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 84.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,354 shares of the auto parts company's stock after buying an additional 6,552 shares during the period. Vestcor Inc's holdings in Allison Transmission were worth $1,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec grew its stake in Allison Transmission by 4,877.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 444,518 shares of the auto parts company's stock worth $48,035,000 after purchasing an additional 435,587 shares during the period. Raymond James Financial Inc. bought a new position in Allison Transmission in the fourth quarter worth approximately $41,081,000. FMR LLC boosted its holdings in Allison Transmission by 1.9% in the fourth quarter. FMR LLC now owns 12,993,015 shares of the auto parts company's stock worth $1,404,025,000 after acquiring an additional 247,318 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Allison Transmission by 19.0% in the first quarter. Federated Hermes Inc. now owns 1,138,259 shares of the auto parts company's stock worth $108,897,000 after acquiring an additional 181,568 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Allison Transmission by 10,402.1% in the first quarter. GAMMA Investing LLC now owns 148,289 shares of the auto parts company's stock worth $14,187,000 after acquiring an additional 146,877 shares in the last quarter. Institutional investors and hedge funds own 96.90% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Raymond James Financial cut their price target on Allison Transmission from $110.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, July 21st. Robert W. Baird cut 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. The Goldman Sachs Group raised their target price on Allison Transmission from $80.00 to $90.00 and gave the company a "sell" rating in a report on Tuesday, May 27th. Citigroup cut their target price on Allison Transmission from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Finally, Bank of America raised their price objective on Allison Transmission from $74.00 to $79.00 and gave the company an "underperform" rating in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Allison Transmission currently has an average rating of "Hold" and an average price target of $98.38.

Insider Buying and Selling at Allison Transmission

In other 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 value of $359,078.88. Following the completion of the transaction, the vice president directly owned 11,924 shares in the company, valued at approximately $1,254,881.76. The trade was a 22.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.20% of the company's stock.

Allison Transmission Stock Performance

Allison Transmission stock traded up $0.42 during mid-day trading on Monday, reaching $88.11. 1,301,321 shares of the company's stock were exchanged, compared to its average volume of 966,725. The business's fifty day simple moving average is $95.03 and its 200 day simple moving average is $98.65. The firm has a market capitalization of $7.42 billion, a PE ratio of 10.20 and a beta of 0.97. Allison Transmission Holdings, Inc. has a one year low of $78.71 and a one year 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 posted its quarterly earnings results on Monday, August 4th. The auto parts company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.07. Allison Transmission had a return on equity of 46.97% and a net margin of 23.55%. During the same quarter in the prior year, the business posted $2.13 earnings per share. Allison Transmission's quarterly revenue was down .2% compared to the same quarter last year. On average, sell-side analysts expect that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current year.

Allison Transmission Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a $0.27 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Allison Transmission's payout ratio is 12.50%.

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.