Alberta Investment Management Corp Trims Holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Alberta Investment Management Corp reduced its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 42.0% in the fourth quarter, Holdings Channel reports. The firm owned 26,000 shares of the auto parts company’s stock after selling 18,800 shares during the period. Alberta Investment Management Corp’s holdings in Allison Transmission were worth $2,810,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ALSN. SRH Advisors LLC bought a new position in Allison Transmission in the 4th quarter worth about $26,000. Kestra Investment Management LLC purchased a new stake in shares of Allison Transmission in the fourth quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Allison Transmission in the fourth quarter worth approximately $31,000. Quarry LP increased its holdings in Allison Transmission by 46.7% during the 3rd quarter. Quarry LP now owns 358 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Finally, SJS Investment Consulting Inc. raised its position in Allison Transmission by 1,650.0% during the 4th quarter. SJS Investment Consulting Inc. now owns 420 shares of the auto parts company’s stock valued at $45,000 after purchasing an additional 396 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALSN. Robert W. Baird increased their price target on Allison Transmission from $103.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 13th. Oppenheimer boosted their price target on shares of Allison Transmission from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America increased their price objective on shares of Allison Transmission from $67.00 to $77.00 and gave the company an “underperform” rating in a research note on Wednesday, October 30th. Finally, Citigroup reduced their price objective on shares of Allison Transmission from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have assigned 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 $100.75.

Allison Transmission Stock Down 1.4 %

Shares of ALSN stock opened at $102.34 on Friday. Allison Transmission Holdings, Inc. has a 1-year low of $69.80 and a 1-year high of $122.53. The company has a market cap of $8.75 billion, a price-to-earnings ratio of 12.31 and a beta of 1.00. 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 stock’s fifty day moving average price is $111.81 and its 200 day moving average price is $104.21.

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

Allison Transmission Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.27 per share. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.06%. Allison Transmission’s dividend payout ratio (DPR) is currently 12.03%.

Allison Transmission announced that its Board of Directors has initiated a share 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, CEO David S. Graziosi sold 1,723 shares of Allison Transmission stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $120.26, for a total transaction of $207,207.98. Following the completion of the transaction, the chief executive officer now owns 168,833 shares in the company, valued at approximately $20,303,856.58. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP John Coll sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $108.40, for a total value of $216,800.00. Following the completion of the sale, the senior vice president now owns 6,420 shares in the company, valued at $695,928. The trade was a 23.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,639 shares of company stock worth $2,448,077. Company insiders own 1.10% of the company’s stock.

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.