Bank of New York Mellon Corp Sells 77,548 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Bank of New York Mellon Corp decreased its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 590,944 shares of the auto parts company's stock after selling 77,548 shares during the period. Bank of New York Mellon Corp owned about 0.68% of Allison Transmission worth $63,857,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALSN. DGS Capital Management LLC lifted its holdings in shares of Allison Transmission by 2.5% during the 4th quarter. DGS Capital Management LLC now owns 3,424 shares of the auto parts company's stock valued at $370,000 after buying an additional 84 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Allison Transmission by 0.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,370 shares of the auto parts company's stock valued at $1,661,000 after acquiring an additional 100 shares during the period. Quarry LP boosted its position in Allison Transmission by 46.7% in the third quarter. Quarry LP now owns 358 shares of the auto parts company's stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Allison Transmission by 3.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,697 shares of the auto parts company's stock valued at $355,000 after purchasing an additional 126 shares during the period. Finally, Principal Securities Inc. increased its position in shares of Allison Transmission by 7.1% during the 4th quarter. Principal Securities Inc. now owns 1,939 shares of the auto parts company's stock valued at $210,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company's stock.

Allison Transmission Price Performance

Shares of ALSN traded up $1.24 during trading hours on Wednesday, reaching $97.64. 718,199 shares of the stock traded hands, compared to its average volume of 642,402. The company has a market cap of $8.35 billion, a P/E ratio of 11.75 and a beta of 1.00. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45. The company's 50-day moving average price is $109.82 and its two-hundred day moving average price is $105.29. Allison Transmission Holdings, Inc. has a 52-week low of $71.49 and a 52-week high of $122.53.

Allison Transmission (NYSE:ALSN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 EPS 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%. On average, analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current year.

Allison Transmission declared that its board has authorized a stock repurchase plan on Thursday, February 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the auto parts company to buy up to 57.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Allison Transmission Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.11%. 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%.

Insider Activity

In other news, SVP John Coll sold 2,000 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $108.40, for a total transaction of $216,800.00. Following the completion of the transaction, the senior vice president now 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ALSN. StockNews.com downgraded shares of Allison Transmission from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 13th. Citigroup dropped their price target on shares of Allison Transmission from $120.00 to $115.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. The Goldman Sachs Group upped their price objective on Allison Transmission from $82.00 to $94.00 and gave the stock a "sell" rating in a research note on Thursday, December 12th. Finally, Morgan Stanley lifted their target price on Allison Transmission from $110.00 to $112.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Two 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $100.75.

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.