Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 15.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,109 shares of the auto parts company's stock after selling 24,231 shares during the period. Wedge Capital Management L L P NC owned 0.16% of Allison Transmission worth $12,639,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ALSN. Transce3nd LLC bought a new stake in shares of Allison Transmission during the 4th quarter valued at $25,000. SRH Advisors LLC bought a new stake in Allison Transmission during the fourth quarter worth about $26,000. Kestra Investment Management LLC purchased a new stake in Allison Transmission in the fourth quarter worth about $30,000. Vermillion Wealth Management Inc. bought a new position in shares of Allison Transmission during the fourth quarter valued at approximately $31,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Allison Transmission by 363.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 500 shares of the auto parts company's stock valued at $48,000 after purchasing an additional 392 shares in the last quarter. 96.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALSN. Raymond James decreased their target price 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. The Goldman Sachs Group boosted their price objective on shares of Allison Transmission from $80.00 to $90.00 and gave the stock a "sell" rating in a report on Tuesday, May 27th. Citigroup cut their target price on Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird reduced their target price on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered their price target 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 given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Allison Transmission presently has an average rating of "Hold" and an average price target of $98.13.

Allison Transmission Stock Down 2.4%

Shares of NYSE ALSN traded down $2.49 during mid-day trading on Monday, reaching $101.07. 826,030 shares of the company were exchanged, compared to its average volume of 645,771. Allison Transmission Holdings, Inc. has a 1 year low of $71.49 and a 1 year high of $122.53. The firm has a 50-day moving average of $96.37 and a 200 day moving average of $104.28. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 12.16 and a beta of 1.00. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45.

Allison Transmission (NYSE:ALSN - Get Free Report) last released its quarterly 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. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. The business had revenue of $766.00 million during the quarter, compared to analyst estimates of $792.18 million. During the same period in the prior year, the firm posted $1.90 earnings per share. The company's quarterly revenue was down 2.9% on a year-over-year basis. On average, research analysts expect that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current year.

Allison Transmission Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a dividend of $0.27 per share. The ex-dividend date was Monday, May 19th. This represents a $1.08 dividend on an annualized basis and a yield of 1.07%. Allison Transmission's payout ratio is 12.50%.

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

Insider Buying and Selling at Allison Transmission

In related news, SVP John Coll sold 1,788 shares of the firm'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 completion of the transaction, the senior vice president now owns 15,388 shares in the company, valued at $1,466,938.04. This trade represents a 10.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Ryan A. Milburn sold 3,412 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $105.24, for a total value of $359,078.88. Following the sale, the vice president now owns 11,924 shares in the company, valued at approximately $1,254,881.76. The trade was a 22.25% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

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.