Federated Hermes Inc. Buys 36,065 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Federated Hermes Inc. increased its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 956,691 shares of the auto parts company's stock after acquiring an additional 36,065 shares during the quarter. Federated Hermes Inc. owned 1.10% of Allison Transmission worth $103,380,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Smith Group Asset Management LLC purchased a new position in Allison Transmission during the 4th quarter valued at about $2,161,000. Allspring Global Investments Holdings LLC grew its position in Allison Transmission by 18.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company's stock valued at $31,643,000 after purchasing an additional 46,435 shares in the last quarter. Teacher Retirement System of Texas increased 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 during the period. Convergence Investment Partners LLC lifted its position in Allison Transmission by 115.6% in the 4th 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. Finally, Franklin Resources Inc. boosted its stake in shares of Allison Transmission by 46.8% during the 3rd quarter. Franklin Resources Inc. now owns 250,050 shares of the auto parts company's stock valued at $24,955,000 after buying an additional 79,745 shares during the period. Hedge funds and other institutional investors own 96.90% of the company's stock.

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Analyst Upgrades and Downgrades

ALSN has been the subject of several recent research reports. Citigroup cut their price objective on Allison Transmission from $108.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday. Morgan Stanley lifted their price target on Allison Transmission from $110.00 to $112.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. StockNews.com upgraded Allison Transmission from a "hold" rating to a "buy" rating in a report on Friday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Allison Transmission from $110.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday. Two 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $98.00.

Allison Transmission Stock Performance

Shares of Allison Transmission stock traded up $0.02 during trading on Friday, reaching $88.65. The company's stock had a trading volume of 840,769 shares, compared to its average volume of 639,068. Allison Transmission Holdings, Inc. has a one year low of $71.49 and a one year high of $122.53. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.42 and a current ratio of 3.04. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 10.67 and a beta of 0.95. The business's fifty day moving average price is $98.58 and its 200-day moving average price is $106.25.

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 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, equities research analysts predict that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current year.

Allison Transmission Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.27 per share. This is an increase from Allison Transmission's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. Allison Transmission's payout ratio is presently 13.00%.

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

Insider Activity

In other news, SVP John Coll sold 1,788 shares of Allison Transmission stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $95.33, for a total transaction of $170,450.04. Following the sale, the senior vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ryan A. Milburn sold 4,546 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was 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 of the company's stock, valued at approximately $1,360,075.60. This represents a 24.33 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

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.