Ingalls & Snyder LLC cut its position in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 44.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,195 shares of the auto parts company's stock after selling 11,980 shares during the period. Ingalls & Snyder LLC's holdings in Allison Transmission were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC lifted its stake in Allison Transmission by 24.3% during the third quarter. FMR LLC now owns 12,745,697 shares of the auto parts company's stock worth $1,224,479,000 after purchasing an additional 2,493,310 shares during the last quarter. Jennison Associates LLC acquired a new stake in Allison Transmission during the 3rd quarter worth $52,156,000. Loomis Sayles & Co. L P lifted its position in Allison Transmission by 252.5% in the third quarter. Loomis Sayles & Co. L P now owns 593,044 shares of the auto parts company's stock valued at $56,974,000 after acquiring an additional 424,813 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Allison Transmission by 34.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 914,918 shares of the auto parts company's stock valued at $87,896,000 after acquiring an additional 233,214 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in Allison Transmission by 257.8% in the second quarter. Thompson Siegel & Walmsley LLC now owns 319,428 shares of the auto parts company's stock valued at $24,245,000 after acquiring an additional 230,152 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on ALSN shares. The Goldman Sachs Group boosted their target price on Allison Transmission from $72.00 to $82.00 and gave the company a "sell" rating in a report on Friday, November 1st. Robert W. Baird boosted their price objective on Allison Transmission from $103.00 to $108.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Citigroup raised their target price on shares of Allison Transmission from $115.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 20th. Bank of America lifted their target price on shares of Allison Transmission from $67.00 to $77.00 and gave the company an "underperform" rating in a report on Wednesday, October 30th. Finally, StockNews.com cut shares of Allison Transmission from a "strong-buy" rating to a "buy" rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Allison Transmission has an average rating of "Hold" and a consensus target price of $94.25.
Check Out Our Latest Stock Report on Allison Transmission
Allison Transmission Stock Performance
ALSN traded up $0.87 during trading on Wednesday, hitting $117.83. The stock had a trading volume of 264,776 shares, compared to its average volume of 611,364. Allison Transmission Holdings, Inc. has a twelve month low of $54.10 and a twelve month high of $122.53. The firm has a market capitalization of $10.21 billion, a P/E ratio of 14.38, a PEG ratio of 2.07 and a beta of 0.98. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.25 and a current ratio of 2.83. The company's 50-day moving average price is $107.16 and its 200 day moving average price is $90.66.
Allison Transmission (NYSE:ALSN - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.26. Allison Transmission had a net margin of 22.66% and a return on equity of 51.13%. The firm had revenue of $824.00 million during the quarter, compared to analysts' expectations of $790.08 million. During the same period in the prior year, the company posted $1.76 earnings per share. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities research analysts forecast that Allison Transmission Holdings, Inc. will post 8.21 EPS for the current fiscal year.
Allison Transmission Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. Allison Transmission's dividend payout ratio (DPR) is presently 12.18%.
Insider Buying and Selling
In other Allison Transmission news, CEO David S. Graziosi sold 5,326 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $120.12, for a total transaction of $639,759.12. Following the transaction, the chief executive officer now directly owns 168,833 shares in the company, valued at approximately $20,280,219.96. This represents a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas Eifert sold 2,000 shares of Allison Transmission stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $95.00, for a total transaction of $190,000.00. Following the sale, the vice president now owns 9,601 shares of the company's stock, valued at approximately $912,095. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,380 shares of company stock valued at $2,830,837 over the last quarter. Company insiders own 1.10% of the company's stock.
About Allison Transmission
(
Free Report)
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.
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