Legal & General Group Plc Decreases Stock Holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Legal & General Group Plc trimmed its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,803 shares of the auto parts company's stock after selling 7,405 shares during the period. Legal & General Group Plc owned about 0.11% of Allison Transmission worth $10,569,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SRH Advisors LLC bought a new position in shares of Allison Transmission during the 4th quarter worth $26,000. World Investment Advisors LLC purchased a new position in shares of Allison Transmission in the third quarter worth about $29,000. Kestra Investment Management LLC bought a new stake in shares of Allison Transmission in the fourth quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Allison Transmission during the 4th quarter valued at approximately $31,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Allison Transmission during the 4th quarter valued at approximately $42,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ALSN shares. JPMorgan Chase & Co. lowered their target price on shares of Allison Transmission from $110.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Raymond James decreased their price objective on Allison Transmission from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Morgan Stanley cut their target price on Allison Transmission from $112.00 to $94.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Citigroup reduced their target price on Allison Transmission from $108.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, StockNews.com downgraded shares of Allison Transmission from a "buy" rating to a "hold" rating in a report on Saturday. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Allison Transmission has a consensus rating of "Hold" and a consensus price target of $97.88.

Insider Transactions at Allison Transmission

In other 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 value of $437,325.20. Following the completion of the sale, the vice president now owns 14,138 shares of the company's stock, valued at approximately $1,360,075.60. This represents a 24.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Coll sold 1,788 shares of Allison Transmission stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total transaction of $170,450.04. Following the completion of the transaction, the senior vice president now owns 15,388 shares in the company, valued at approximately $1,466,938.04. The trade was a 10.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Allison Transmission Price Performance

Shares of NYSE ALSN traded up $2.40 during midday trading on Tuesday, hitting $88.21. 480,602 shares of the company's stock were exchanged, compared to its average volume of 643,202. The business's fifty day moving average price is $95.42 and its two-hundred day moving average price is $105.82. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 10.61 and a beta of 0.95. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45. 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 issued its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, topping 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, research analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.08 annualized dividend and a yield of 1.22%. This is a positive change from Allison Transmission's previous quarterly dividend of $0.25. Allison Transmission's payout ratio is 13.00%.

Allison Transmission declared that its Board of Directors has approved a share buyback program on Thursday, February 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to purchase up to 57.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Allison Transmission Company 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.