Cornercap Investment Counsel Inc. Sells 9,215 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Cornercap Investment Counsel Inc. decreased its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 57.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,898 shares of the auto parts company's stock after selling 9,215 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Allison Transmission were worth $663,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Versant Capital Management Inc lifted its holdings in shares of Allison Transmission by 1,200.0% during the 2nd quarter. Versant Capital Management Inc now owns 364 shares of the auto parts company's stock worth $28,000 after acquiring an additional 336 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in Allison Transmission in the 2nd quarter worth approximately $33,000. Fifth Third Bancorp increased its position in Allison Transmission by 139.8% in the second quarter. Fifth Third Bancorp now owns 868 shares of the auto parts company's stock worth $66,000 after buying an additional 506 shares in the last quarter. Quent Capital LLC raised its stake in Allison Transmission by 24.0% during the 2nd quarter. Quent Capital LLC now owns 889 shares of the auto parts company's stock valued at $68,000 after purchasing an additional 172 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in shares of Allison Transmission by 27.8% in the third quarter. Venturi Wealth Management LLC now owns 744 shares of the auto parts company's stock worth $71,000 after purchasing an additional 162 shares during the last quarter. 96.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Allison Transmission

In other news, SVP John Coll sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $90.98, for a total value of $181,960.00. Following the sale, the senior vice president now directly owns 12,420 shares in the company, valued at approximately $1,129,971.60. This represents a 13.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Thomas Eifert sold 1,741 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now owns 9,601 shares of the company's stock, valued at $960,100. This trade represents a 15.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,741 shares of company stock worth $546,060 over the last ninety days. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

ALSN has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on Allison Transmission from $103.00 to $108.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Oppenheimer increased their price target on Allison Transmission from $90.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of Allison Transmission from $72.00 to $82.00 and gave the stock a "sell" rating in a report on Friday, November 1st. 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 research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on Allison Transmission from $80.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, October 11th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $92.25.

Allison Transmission Trading Down 1.3 %

Shares of ALSN traded down $1.56 during midday trading on Friday, hitting $116.11. The stock had a trading volume of 634,086 shares, compared to its average volume of 618,737. The business has a 50-day simple moving average of $100.17 and a two-hundred day simple moving average of $86.88. Allison Transmission Holdings, Inc. has a fifty-two week low of $52.83 and a fifty-two week high of $121.36. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 1.48. The firm has a market cap of $10.06 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 2.12 and a beta of 0.98.

Allison Transmission (NYSE:ALSN - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.01 by $0.26. The business had revenue of $824.00 million for the quarter, compared to analysts' expectations of $790.08 million. Allison Transmission had a net margin of 22.66% and a return on equity of 51.13%. Allison Transmission's revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 EPS. As a group, equities analysts forecast that Allison Transmission Holdings, Inc. will post 8.2 EPS for the current year.

Allison Transmission Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, November 18th. Allison Transmission's payout ratio is 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.