Illinois Municipal Retirement Fund Buys Shares of 7,090 Allison Transmission Holdings, Inc. (NYSE:ALSN)

Illinois Municipal Retirement Fund purchased a new position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,090 shares of the auto parts company's stock, valued at approximately $766,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ALSN. Amalgamated Bank increased its stake in Allison Transmission by 1.6% during the fourth quarter. Amalgamated Bank now owns 6,381 shares of the auto parts company's stock worth $690,000 after acquiring an additional 103 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Allison Transmission in the fourth quarter valued at about $2,016,000. Access Investment Management LLC boosted its stake in Allison Transmission by 0.6% during the fourth quarter. Access Investment Management LLC now owns 21,960 shares of the auto parts company's stock worth $2,373,000 after buying an additional 140 shares during the period. Navellier & Associates Inc. increased its position in shares of Allison Transmission by 8.7% during the fourth quarter. Navellier & Associates Inc. now owns 40,285 shares of the auto parts company's stock valued at $4,353,000 after acquiring an additional 3,219 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Allison Transmission by 7.0% during the fourth quarter. Allianz Asset Management GmbH now owns 1,061,351 shares of the auto parts company's stock valued at $114,690,000 after acquiring an additional 69,008 shares during the last quarter. Institutional investors and hedge funds own 96.90% of the company's stock.

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Allison Transmission Stock Up 2.2 %

Shares of Allison Transmission stock traded up $2.08 during trading hours on Friday, hitting $98.12. The company had a trading volume of 716,013 shares, compared to its average volume of 653,441. The company's 50-day moving average is $109.54 and its two-hundred day moving average is $105.22. Allison Transmission Holdings, Inc. has a twelve month low of $71.49 and a twelve month high of $122.53. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42. The company has a market cap of $8.39 billion, a P/E ratio of 11.81 and a beta of 1.00.

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

Allison Transmission Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a $0.27 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.10%. This is a boost from Allison Transmission's previous quarterly dividend of $0.25. Allison Transmission's payout ratio is currently 13.00%.

Allison Transmission announced that its board has approved a stock buyback plan on Thursday, February 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the auto parts company to purchase up to 57.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on ALSN. Morgan Stanley boosted 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. The Goldman Sachs Group boosted their price target on shares of Allison Transmission from $82.00 to $94.00 and gave the stock a "sell" rating in a research note on Thursday, December 12th. Citigroup reduced 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 report on Wednesday, February 12th. Finally, StockNews.com downgraded shares of Allison Transmission from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $100.75.

Insider Activity

In other news, SVP John Coll sold 2,000 shares of the company's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the completion of the sale, the senior vice president now directly owns 6,420 shares of the company's stock, valued at approximately $695,928. This represents a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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.