LPL Financial LLC Increases Stake in Allison Transmission Holdings, Inc. (NYSE:ALSN)

LPL Financial LLC raised its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 13.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,344 shares of the auto parts company's stock after purchasing an additional 8,898 shares during the quarter. LPL Financial LLC owned 0.09% of Allison Transmission worth $8,358,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ALSN. Geode Capital Management LLC grew its position in Allison Transmission by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,961,834 shares of the auto parts company's stock worth $188,511,000 after purchasing an additional 79,506 shares in the last quarter. State Street Corp grew its stake in Allison Transmission by 0.8% in the 3rd quarter. State Street Corp now owns 1,682,076 shares of the auto parts company's stock valued at $161,597,000 after purchasing an additional 13,252 shares during the period. Allianz Asset Management GmbH increased its position in shares of Allison Transmission by 7.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,061,351 shares of the auto parts company's stock valued at $114,690,000 after purchasing an additional 69,008 shares during the last quarter. NewEdge Wealth LLC raised its stake in shares of Allison Transmission by 12.2% during the 4th quarter. NewEdge Wealth LLC now owns 478,519 shares of the auto parts company's stock worth $51,709,000 after purchasing an additional 51,976 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Allison Transmission during the fourth quarter valued at about $41,081,000. Institutional investors and hedge funds own 96.90% of the company's stock.

Remove Ads

Analysts Set New Price Targets

ALSN has been the topic of several research reports. JPMorgan Chase & Co. lowered 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 report on Tuesday, March 18th. Morgan Stanley upped their price objective on Allison Transmission from $110.00 to $112.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 17th. The Goldman Sachs Group raised their target price on Allison Transmission from $82.00 to $94.00 and gave the stock a "sell" rating in a research report on Thursday, December 12th. StockNews.com downgraded Allison Transmission from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Citigroup lowered their price objective on Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Allison Transmission currently has a consensus rating of "Hold" and a consensus price target of $99.50.

Allison Transmission Price Performance

Shares of ALSN traded down $3.70 during midday trading on Thursday, hitting $88.42. 1,047,655 shares of the company traded hands, compared to its average volume of 637,628. Allison Transmission Holdings, Inc. has a one year low of $71.49 and a one year high of $122.53. 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 firm has a market cap of $7.54 billion, a P/E ratio of 10.64 and a beta of 0.95. The stock has a 50-day moving average of $99.10 and a 200-day moving average of $106.28.

Allison Transmission (NYSE:ALSN - Get Free Report) last released its quarterly earnings results 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 net margin of 22.67% and a return on equity of 47.95%. As a group, sell-side analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.27 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. This is a boost from Allison Transmission's previous quarterly dividend of $0.25. Allison Transmission's dividend payout ratio (DPR) is presently 13.00%.

Allison Transmission declared that its Board of Directors has approved a stock repurchase plan 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 repurchase up to 57.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Allison Transmission

In related news, VP Ryan A. Milburn sold 4,546 shares of the firm'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 sale, the vice president now directly owns 14,138 shares of the company's stock, valued at $1,360,075.60. This trade represents a 24.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John Coll sold 1,788 shares of Allison Transmission 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 sale, the senior vice president now owns 15,388 shares of the company's stock, valued at approximately $1,466,938.04. The trade was a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

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.