Northern Trust Corp Sells 33,291 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Northern Trust Corp decreased its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 530,811 shares of the auto parts company's stock after selling 33,291 shares during the quarter. Northern Trust Corp owned 0.61% of Allison Transmission worth $57,359,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALSN. Loomis Sayles & Co. L P grew its position in Allison Transmission by 301.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 2,378,731 shares of the auto parts company's stock valued at $257,046,000 after acquiring an additional 1,785,687 shares during the last quarter. Norges Bank purchased a new position in Allison Transmission in the 4th quarter worth about $108,916,000. Raymond James Financial Inc. bought a new stake in Allison Transmission during the 4th quarter valued at about $41,081,000. FMR LLC lifted its holdings in Allison Transmission by 1.9% during the 4th quarter. FMR LLC now owns 12,993,015 shares of the auto parts company's stock valued at $1,404,025,000 after buying an additional 247,318 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Allison Transmission by 177.7% in the 4th quarter. Alliancebernstein L.P. now owns 144,951 shares of the auto parts company's stock valued at $15,663,000 after buying an additional 92,754 shares during the period. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Allison Transmission

In other news, SVP John Coll sold 1,788 shares of the stock in a transaction dated 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 directly owns 15,388 shares of the company's stock, valued at approximately $1,466,938.04. This represents a 10.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ryan A. Milburn sold 4,546 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $96.20, for a total value of $437,325.20. Following the completion of the sale, the vice president now owns 14,138 shares in the company, valued at approximately $1,360,075.60. This represents a 24.33 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Allison Transmission Trading Down 1.4 %

NYSE:ALSN opened at $97.26 on Wednesday. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 11.70 and a beta of 0.97. Allison Transmission Holdings, Inc. has a 52 week low of $71.49 and a 52 week high of $122.53. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45. The firm has a 50 day moving average of $93.76 and a 200 day moving average of $105.43.

Allison Transmission (NYSE:ALSN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The auto parts company reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.97 by $0.26. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. The firm had revenue of $766.00 million during the quarter, compared to analysts' expectations of $792.18 million. During the same quarter last year, the firm earned $1.90 EPS. The business's quarterly revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission declared that its board has initiated a share repurchase plan on Thursday, February 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the auto parts company to repurchase up to 57.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

Allison Transmission Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.11%. This is an increase from Allison Transmission's previous quarterly dividend of $0.25. Allison Transmission's dividend payout ratio is 12.50%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALSN. Robert W. Baird lowered their price target on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. StockNews.com raised Allison Transmission from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Allison Transmission from $110.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Citigroup cut their target price 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. Finally, Raymond James lowered 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $98.63.

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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