Norris Perne & French LLP MI Reduces Stock Holdings in Allison Transmission Holdings, Inc. $ALSN

Norris Perne & French LLP MI lowered its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 14.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 256,329 shares of the auto parts company’s stock after selling 42,069 shares during the quarter. Allison Transmission accounts for 1.5% of Norris Perne & French LLP MI’s holdings, making the stock its 24th biggest holding. Norris Perne & French LLP MI owned approximately 0.31% of Allison Transmission worth $21,757,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Inspire Investing LLC boosted its stake in Allison Transmission by 26.8% during the third quarter. Inspire Investing LLC now owns 8,975 shares of the auto parts company’s stock worth $762,000 after buying an additional 1,895 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Allison Transmission by 8.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,777 shares of the auto parts company’s stock worth $405,000 after acquiring an additional 360 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Allison Transmission during the 3rd quarter worth about $745,000. Stolper Co bought a new position in Allison Transmission during the 3rd quarter valued at about $6,417,000. Finally, Wedge Capital Management L L P NC grew its holdings in Allison Transmission by 20.0% during the 3rd quarter. Wedge Capital Management L L P NC now owns 167,020 shares of the auto parts company’s stock valued at $14,177,000 after purchasing an additional 27,816 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors.

Allison Transmission Stock Up 0.2%

Shares of NYSE ALSN opened at $100.97 on Monday. Allison Transmission Holdings, Inc. has a 52-week low of $76.01 and a 52-week high of $121.81. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 12.37 and a beta of 0.99. The stock has a 50 day moving average price of $88.50 and a 200 day moving average price of $88.82. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.06 and a current ratio of 3.82.

Allison Transmission (NYSE:ALSN) last issued its earnings results on Wednesday, October 29th. The auto parts company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.32). The firm had revenue of $693.00 million for the quarter, compared to the consensus estimate of $779.97 million. Allison Transmission had a net margin of 22.78% and a return on equity of 40.46%. The company’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period last year, the firm earned $2.27 earnings per share. Sell-side analysts expect that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current year.

Allison Transmission Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were issued a $0.27 dividend. The ex-dividend date was Friday, November 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Allison Transmission’s payout ratio is currently 13.24%.

Analysts Set New Price Targets

Several brokerages have issued reports on ALSN. JPMorgan Chase & Co. decreased their price objective on shares of Allison Transmission from $90.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Zacks Research raised Allison Transmission from a “strong sell” rating to a “hold” rating in a research note on Friday, September 19th. Citigroup boosted their price objective on Allison Transmission from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, December 19th. Wells Fargo & Company assumed coverage on Allison Transmission in a research report on Thursday, November 13th. They issued an “equal weight” rating and a $85.00 price objective on the stock. Finally, Raymond James Financial lifted their target price on Allison Transmission from $110.00 to $115.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $95.13.

Allison Transmission Company Profile

Allison Transmission Holdings Inc is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company’s products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison’s core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.

In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.