Principal Financial Group Inc. Sells 974 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Principal Financial Group Inc. reduced its position in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 14.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,587 shares of the auto parts company’s stock after selling 974 shares during the quarter. Principal Financial Group Inc.’s holdings in Allison Transmission were worth $537,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ALSN. Private Advisor Group LLC raised its position in shares of Allison Transmission by 4.4% in the 3rd quarter. Private Advisor Group LLC now owns 3,972 shares of the auto parts company’s stock worth $382,000 after acquiring an additional 167 shares in the last quarter. Quent Capital LLC grew its stake in Allison Transmission by 24.0% during the second quarter. Quent Capital LLC now owns 889 shares of the auto parts company’s stock worth $68,000 after purchasing an additional 172 shares during the period. Miller Howard Investments Inc. NY increased its holdings in Allison Transmission by 2.1% in the second quarter. Miller Howard Investments Inc. NY now owns 8,911 shares of the auto parts company’s stock worth $676,000 after purchasing an additional 186 shares in the last quarter. Americana Partners LLC lifted its stake in Allison Transmission by 3.9% in the second quarter. Americana Partners LLC now owns 5,069 shares of the auto parts company’s stock valued at $385,000 after buying an additional 191 shares during the period. Finally, Raymond James Trust N.A. boosted its holdings in shares of Allison Transmission by 4.1% during the 2nd quarter. Raymond James Trust N.A. now owns 5,072 shares of the auto parts company’s stock worth $385,000 after buying an additional 200 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allison Transmission

In other news, VP Thomas Eifert sold 1,741 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $100.00, for a total value of $174,100.00. Following the completion of the transaction, the vice president now directly owns 9,601 shares of the company’s stock, valued at $960,100. This trade represents a 15.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Coll sold 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $117.73, for a total value of $235,460.00. Following the sale, the senior vice president now owns 8,420 shares in the company, valued at approximately $991,286.60. The trade was a 19.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,741 shares of company stock worth $781,520. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on ALSN. JPMorgan Chase & Co. upped their price target on Allison Transmission from $80.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Citigroup upped their target price on Allison Transmission from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group lifted their price target on shares of Allison Transmission from $72.00 to $82.00 and gave the company a “sell” rating in a research report on Friday, November 1st. Robert W. Baird upped their price objective on shares of Allison Transmission from $103.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Bank of America lifted their price objective on shares of Allison Transmission from $67.00 to $77.00 and gave the company an “underperform” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.25.

Allison Transmission Stock Up 1.3 %

Shares of NYSE:ALSN opened at $119.65 on Monday. The company has a market capitalization of $10.36 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.10 and a beta of 0.98. Allison Transmission Holdings, Inc. has a 1 year low of $53.09 and a 1 year high of $121.36. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.83 and a quick ratio of 2.25. The business has a fifty day moving average price of $103.23 and a two-hundred day moving average price of $88.47.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.01 by $0.26. Allison Transmission had a net margin of 22.66% and a return on equity of 51.13%. The business had revenue of $824.00 million for the quarter, compared to analyst estimates of $790.08 million. During the same quarter in the previous year, the firm posted $1.76 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. Analysts forecast that Allison Transmission Holdings, Inc. will post 8.21 earnings per share for the current year.

Allison Transmission Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.84%. Allison Transmission’s payout ratio is presently 12.18%.

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.