Covestor Ltd Reduces Holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Covestor Ltd lessened its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 58.3% during the 4th quarter, Holdings Channel reports. The firm owned 390 shares of the auto parts company’s stock after selling 546 shares during the quarter. Covestor Ltd’s holdings in Allison Transmission were worth $42,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALSN. SRH Advisors LLC purchased a new stake in Allison Transmission in the 4th quarter valued at approximately $26,000. World Investment Advisors LLC purchased a new stake in shares of Allison Transmission in the third quarter valued at $29,000. Kestra Investment Management LLC acquired a new stake in shares of Allison Transmission during the fourth quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Allison Transmission in the 4th quarter valued at about $31,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Allison Transmission during the 4th quarter worth about $42,000. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ALSN shares. JPMorgan Chase & Co. cut 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 report on Friday, April 11th. StockNews.com raised Allison Transmission from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Robert W. Baird dropped their target price on Allison Transmission from $123.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday. Raymond James decreased their price target on Allison Transmission from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Citigroup cut their price objective on shares of Allison Transmission from $108.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $100.13.

Insiders Place Their Bets

In other news, SVP John Coll sold 1,788 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 owns 15,388 shares of the company’s stock, valued at approximately $1,466,938.04. This trade represents a 10.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ryan A. Milburn sold 4,546 shares of the stock in a transaction 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 owns 14,138 shares in the company, valued at $1,360,075.60. This trade represents a 24.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Allison Transmission Stock Down 0.5 %

Shares of NYSE ALSN opened at $88.93 on Wednesday. Allison Transmission Holdings, Inc. has a 12-month low of $71.49 and a 12-month high of $122.53. The stock has a fifty day moving average price of $97.54 and a 200 day moving average price of $106.15. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45. The company has a market cap of $7.58 billion, a P/E ratio of 10.70 and a beta of 0.95.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.90 by $0.11. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. Research analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.27 per share. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.08 annualized dividend and a yield of 1.21%. Allison Transmission’s payout ratio is 13.00%.

Allison Transmission declared that its board has approved a share repurchase program on Thursday, February 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the auto parts company to reacquire up to 57.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.