Harvest Fund Management Co. Ltd raised its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 166.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,861 shares of the auto parts company's stock after acquiring an additional 6,164 shares during the period. Harvest Fund Management Co. Ltd's holdings in Allison Transmission were worth $1,066,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of ALSN. FMR LLC lifted its position in Allison Transmission by 24.3% during the third quarter. FMR LLC now owns 12,745,697 shares of the auto parts company's stock valued at $1,224,479,000 after purchasing an additional 2,493,310 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Allison Transmission during the 3rd quarter worth $52,156,000. Loomis Sayles & Co. L P grew its position in Allison Transmission by 252.5% in the third quarter. Loomis Sayles & Co. L P now owns 593,044 shares of the auto parts company's stock worth $56,974,000 after acquiring an additional 424,813 shares in the last quarter. Raymond James Financial Inc. bought a new position in Allison Transmission in the fourth quarter valued at $41,081,000. Finally, Charles Schwab Investment Management Inc. raised its position in Allison Transmission by 34.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 914,918 shares of the auto parts company's stock valued at $87,896,000 after purchasing an additional 233,214 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company's stock.
Allison Transmission Stock Up 3.8 %
Shares of ALSN stock traded up $3.69 during trading hours on Monday, hitting $100.33. 1,064,007 shares of the company's stock traded hands, compared to its average volume of 598,693. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 12.07 and a beta of 1.02. The stock's fifty day simple moving average is $106.89 and its two-hundred day simple moving average is $106.02. Allison Transmission Holdings, Inc. has a 12-month low of $71.49 and a 12-month high of $122.53.
Allison Transmission (NYSE:ALSN - Get Free Report) last released its 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%. On average, analysts expect that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current 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 paid 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 1.08%. The ex-dividend date of this dividend was Monday, March 3rd. Allison Transmission's dividend payout ratio (DPR) is currently 13.00%.
Allison Transmission declared that its board has initiated a stock buyback plan on Thursday, February 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire up to 57.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
ALSN has been the subject of several analyst reports. Citigroup cut their price target on shares of Allison Transmission from $120.00 to $115.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. StockNews.com cut Allison Transmission from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their price objective on Allison Transmission from $129.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday, March 18th. The Goldman Sachs Group raised their target price on shares of Allison Transmission from $82.00 to $94.00 and gave the stock a "sell" rating in a report on Thursday, December 12th. Finally, Morgan Stanley upped 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $102.00.
Check Out Our Latest Analysis on ALSN
Insiders Place Their Bets
In related news, VP Ryan A. Milburn sold 4,546 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were 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 directly owns 14,138 shares in the company, valued at $1,360,075.60. The trade was a 24.33 % decrease in their position. The sale 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 company's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the completion of the transaction, the senior vice president now directly owns 6,420 shares in the company, valued at $695,928. This trade represents a 23.75 % 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.
Allison Transmission Profile
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Free Report)
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.
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