Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Sold by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC lessened its position in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 61.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,100 shares of the auto parts company's stock after selling 9,585 shares during the quarter. Allison Transmission comprises 1.4% of Cannon Global Investment Management LLC's holdings, making the stock its 22nd largest position. Cannon Global Investment Management LLC's holdings in Allison Transmission were worth $659,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ALSN. SRH Advisors LLC acquired a new stake in shares of Allison Transmission in the 4th quarter worth $26,000. World Investment Advisors LLC acquired a new stake in shares of Allison Transmission during the 3rd quarter worth about $29,000. Kestra Investment Management LLC purchased a new stake in Allison Transmission in the 4th quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Allison Transmission during the fourth quarter worth about $31,000. Finally, Quarry LP increased its position in shares of Allison Transmission by 46.7% during the third quarter. Quarry LP now owns 358 shares of the auto parts company's stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALSN has been the subject of several analyst reports. Citigroup lowered their target price on Allison Transmission from $120.00 to $115.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. JPMorgan Chase & Co. cut their target price on shares of Allison Transmission from $129.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. StockNews.com downgraded shares of Allison Transmission from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 13th. The Goldman Sachs Group increased their price objective on shares of Allison Transmission from $82.00 to $94.00 and gave the company a "sell" rating in a research report on Thursday, December 12th. Finally, Morgan Stanley lifted their price objective on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Allison Transmission has an average rating of "Hold" and an average price target of $102.00.

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Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, VP Ryan A. Milburn sold 4,546 shares of the company's 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 completion of the transaction, the vice president now owns 14,138 shares in the company, valued at approximately $1,360,075.60. This represents a 24.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Coll sold 2,000 shares of Allison Transmission stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total transaction of $216,800.00. Following the completion of the sale, the senior vice president now directly owns 6,420 shares in the company, valued at approximately $695,928. The trade was a 23.75 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Allison Transmission Stock Performance

ALSN traded down $0.08 on Tuesday, reaching $100.22. The company had a trading volume of 694,660 shares, compared to its average volume of 599,433. The stock has a 50-day moving average price of $106.65 and a 200-day moving average price of $106.11. The stock has a market capitalization of $8.57 billion, a PE ratio of 12.06 and a beta of 1.02. Allison Transmission Holdings, Inc. has a 1 year low of $71.49 and a 1 year high of $122.53. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45.

Allison Transmission (NYSE:ALSN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, beating 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%. As a group, research analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Increases Dividend

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

Allison Transmission announced that its board has approved a share repurchase plan on Thursday, February 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the auto parts company to buy up to 57.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are 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.