First Manhattan CO. LLC. Invests $1.12 Million in Allison Transmission Holdings, Inc. (NYSE:ALSN)

First Manhattan CO. LLC. bought a new position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,322 shares of the auto parts company's stock, valued at approximately $1,115,000.

Several other hedge funds have also modified their holdings of ALSN. Transce3nd LLC purchased a new stake in Allison Transmission in the 4th quarter valued at approximately $25,000. SRH Advisors LLC acquired a new stake in shares of Allison Transmission during the fourth quarter valued at $26,000. Kestra Investment Management LLC purchased a new stake in shares of Allison Transmission during the fourth quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Allison Transmission in the 4th quarter valued at $31,000. Finally, Proficio Capital Partners LLC acquired a new position in Allison Transmission in the fourth quarter valued at $42,000. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ALSN shares. Raymond James 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. StockNews.com upgraded shares of Allison Transmission from a "hold" rating to a "buy" rating in a research note on Friday, May 2nd. Citigroup decreased their price target on shares of Allison Transmission from $108.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. 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 research report on Friday, April 11th. Finally, Morgan Stanley boosted their price objective 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Allison Transmission currently has an average rating of "Hold" and an average price target of $98.63.

Allison Transmission Trading Up 0.1%

Shares of ALSN opened at $98.78 on Monday. The stock has a market cap of $8.32 billion, a PE ratio of 11.89 and a beta of 0.97. The stock has a 50 day simple moving average of $93.72 and a 200-day simple moving average of $105.46. Allison Transmission Holdings, Inc. has a 1 year low of $71.49 and a 1 year high of $122.53. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45.

Allison Transmission (NYSE:ALSN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The auto parts company reported $2.23 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $792.18 million. During the same quarter in the prior year, the company earned $1.90 EPS. The firm's quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be issued a $0.27 dividend. The ex-dividend date is Monday, May 19th. This represents a $1.08 annualized dividend and a dividend yield of 1.09%. Allison Transmission's dividend payout ratio (DPR) is currently 12.50%.

Allison Transmission announced that its board has authorized a stock buyback program on Thursday, February 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the auto parts company to repurchase up to 57.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Allison Transmission

In related news, VP Ryan A. Milburn sold 4,546 shares of Allison Transmission stock in a transaction dated 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 owns 14,138 shares of the company's stock, valued at approximately $1,360,075.60. The trade was a 24.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Coll sold 1,788 shares of the business's stock in a transaction dated 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 owns 15,388 shares in the company, 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. Insiders own 1.10% of the company's stock.

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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