Allison Transmission Holdings, Inc. (NYSE:ALSN) Holdings Cut by Xponance Inc.

Xponance Inc. reduced its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 5.4% during the 4th quarter, HoldingsChannel reports. The fund owned 4,276 shares of the auto parts company’s stock after selling 245 shares during the period. Xponance Inc.’s holdings in Allison Transmission were worth $462,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Smith Group Asset Management LLC acquired a new stake in Allison Transmission in the 4th quarter worth approximately $2,161,000. Allspring Global Investments Holdings LLC lifted its position in shares of Allison Transmission by 18.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company’s stock worth $31,643,000 after acquiring an additional 46,435 shares during the period. Glenmede Trust Co. NA boosted its stake in Allison Transmission by 4.6% during the third quarter. Glenmede Trust Co. NA now owns 97,150 shares of the auto parts company’s stock worth $9,333,000 after buying an additional 4,261 shares in the last quarter. Convergence Investment Partners LLC boosted its position in shares of Allison Transmission by 115.6% during the 4th quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company’s stock valued at $1,507,000 after acquiring an additional 7,479 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Allison Transmission by 46.8% in the third quarter. Franklin Resources Inc. now owns 250,050 shares of the auto parts company’s stock worth $24,955,000 after purchasing an additional 79,745 shares in the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALSN has been the topic of several analyst reports. StockNews.com lowered Allison Transmission from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 13th. Citigroup dropped their price objective on Allison Transmission from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. The Goldman Sachs Group boosted their target price on shares of Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 12th. Morgan Stanley lifted their price target on shares of Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Allison Transmission from $129.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. 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.com, Allison Transmission has a consensus rating of “Hold” and an average target price of $102.00.

Allison Transmission Price Performance

ALSN opened at $99.25 on Thursday. 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 has a market capitalization of $8.49 billion, a P/E ratio of 11.94 and a beta of 1.02. The company’s 50 day simple moving average is $106.00 and its 200-day simple moving average is $106.16. Allison Transmission Holdings, Inc. has a one year low of $71.49 and a one year high of $122.53.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.27 per share. This is a boost from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Monday, March 3rd. Allison Transmission’s payout ratio is currently 13.00%.

Allison Transmission declared that its board has authorized a stock repurchase 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 reacquire up to 57.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Allison Transmission

In other news, SVP John Coll sold 2,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $108.40, for a total value of $216,800.00. Following the transaction, the senior vice president now owns 6,420 shares of the company’s stock, valued at $695,928. This represents a 23.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Ryan A. Milburn sold 4,546 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total value of $437,325.20. Following the completion of the transaction, the vice president now owns 14,138 shares in the company, valued at $1,360,075.60. This represents a 24.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

About Allison Transmission

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.