Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its position in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 42.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,947 shares of the auto parts company's stock after selling 2,951 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Allison Transmission were worth $427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALSN. Smith Group Asset Management LLC purchased a new stake in shares of Allison Transmission in the fourth quarter valued at about $2,161,000. Allspring Global Investments Holdings LLC raised its position in shares of Allison Transmission by 18.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company's stock worth $31,643,000 after purchasing an additional 46,435 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Allison Transmission by 14.5% in the 4th quarter. Teacher Retirement System of Texas now owns 53,014 shares of the auto parts company's stock valued at $5,729,000 after buying an additional 6,728 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in Allison Transmission by 4.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 97,150 shares of the auto parts company's stock valued at $9,333,000 after buying an additional 4,261 shares during the last quarter. Finally, Convergence Investment Partners LLC increased its position in Allison Transmission by 115.6% during the fourth quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company's stock worth $1,507,000 after buying an additional 7,479 shares in the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

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Allison Transmission Trading Down 7.1 %

Shares of NYSE ALSN traded down $6.99 during trading on Thursday, hitting $91.92. 173,380 shares of the company traded hands, compared to its average volume of 622,424. The firm has a market capitalization of $7.83 billion, a P/E ratio of 11.06 and a beta of 0.95. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45. The company has a 50-day moving average price of $103.81 and a 200-day moving average price of $106.54. Allison Transmission Holdings, Inc. has a 1 year low of $71.49 and a 1 year high of $122.53.

Allison Transmission (NYSE:ALSN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, topping 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, equities analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

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

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 given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.17%. This is a boost from Allison Transmission's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 3rd. Allison Transmission's payout ratio is 13.00%.

Insiders Place Their Bets

In related news, VP Ryan A. Milburn sold 4,546 shares of Allison Transmission 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 transaction, the vice president now owns 14,138 shares in the company, valued at approximately $1,360,075.60. The trade was a 24.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

ALSN has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Allison Transmission from $82.00 to $94.00 and gave the company a "sell" rating in a research report on Thursday, December 12th. StockNews.com cut shares of Allison Transmission from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Citigroup cut their price objective on shares of Allison Transmission from $115.00 to $108.00 and set a "neutral" rating for the company in a research report on Monday. JPMorgan Chase & Co. reduced 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 note on Tuesday, March 18th. Finally, Morgan Stanley lifted their target price on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, five have assigned 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 target price of $101.13.

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.