Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC lessened its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 35.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,296 shares of the auto parts company’s stock after selling 1,791 shares during the quarter. Advisory Services Network LLC’s holdings in Allison Transmission were worth $356,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALSN. Smith Group Asset Management LLC acquired a new stake in shares of Allison Transmission during the 4th quarter valued at approximately $2,161,000. Allspring Global Investments Holdings LLC raised its holdings in Allison Transmission by 18.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company’s stock worth $31,643,000 after purchasing an additional 46,435 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Allison Transmission by 14.5% during the fourth quarter. Teacher Retirement System of Texas now owns 53,014 shares of the auto parts company’s stock worth $5,729,000 after purchasing an additional 6,728 shares in the last quarter. Convergence Investment Partners LLC grew its holdings in Allison Transmission by 115.6% in the fourth quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company’s stock valued at $1,507,000 after purchasing an additional 7,479 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Allison Transmission by 46.8% in the third quarter. Franklin Resources Inc. now owns 250,050 shares of the auto parts company’s stock valued at $24,955,000 after buying an additional 79,745 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ALSN shares. Morgan Stanley lowered their price objective on shares of Allison Transmission from $112.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Raymond James cut their price objective on Allison Transmission from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday. Robert W. Baird lowered their target price on Allison Transmission from $123.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday. StockNews.com raised Allison Transmission from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Finally, Citigroup decreased their price objective 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Allison Transmission currently has a consensus rating of “Hold” and an average target price of $97.88.

Allison Transmission Trading Up 0.7 %

NYSE ALSN opened at $88.80 on Friday. The company has a market cap of $7.57 billion, a P/E ratio of 10.69 and a beta of 0.95. Allison Transmission Holdings, Inc. has a 12 month low of $71.49 and a 12 month high of $122.53. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42. The company has a 50-day moving average of $96.47 and a 200-day moving average of $105.98.

Allison Transmission (NYSE:ALSN) last posted its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. As a group, equities analysts predict that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current year.

Allison Transmission Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.27 per share. The ex-dividend date was Monday, March 3rd. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.22%. Allison Transmission’s dividend payout ratio is currently 13.00%.

Allison Transmission announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the auto parts company to purchase up to 57.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Allison Transmission

In other Allison Transmission news, VP Ryan A. Milburn sold 4,546 shares of Allison Transmission stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $96.20, for a total transaction of $437,325.20. Following the transaction, the vice president now directly owns 14,138 shares of the company’s stock, valued at $1,360,075.60. The trade was a 24.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP John Coll sold 1,788 shares of the stock in a transaction 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 completion of the sale, the senior vice president now directly owns 15,388 shares of the company’s stock, valued at $1,466,938.04. The trade was a 10.41 % decrease in their position. The disclosure for this sale can be found here. Company 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.