Legacy Financial Advisors Inc. lessened its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 41.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,108 shares of the auto parts company's stock after selling 2,968 shares during the period. Legacy Financial Advisors Inc.'s holdings in Allison Transmission were worth $444,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of ALSN. HighTower Advisors LLC purchased a new position in shares of Allison Transmission in the third quarter worth $270,000. Integrated Wealth Concepts LLC acquired a new position in shares of Allison Transmission during the 3rd quarter worth approximately $329,000. Quarry LP boosted its position in shares of Allison Transmission by 46.7% during the 3rd quarter. Quarry LP now owns 358 shares of the auto parts company's stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. Stifel Financial Corp grew its position in Allison Transmission by 4.0% in the third quarter. Stifel Financial Corp now owns 25,672 shares of the auto parts company's stock worth $2,466,000 after acquiring an additional 982 shares during the period. Finally, State Street Corp increased its position in shares of Allison Transmission by 0.8% during the third quarter. State Street Corp now owns 1,682,076 shares of the auto parts company's stock valued at $161,597,000 after acquiring an additional 13,252 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Robert W. Baird cut their target price on shares of Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday. Raymond James lowered their price target on Allison Transmission from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Monday. StockNews.com upgraded shares of Allison Transmission from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. cut their price target on shares of Allison Transmission from $110.00 to $98.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley reduced their target price on shares of Allison Transmission from $112.00 to $94.00 and set an "equal weight" rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $97.88.
Read Our Latest Stock Analysis on ALSN
Insiders Place Their Bets
In other Allison Transmission news, SVP John Coll sold 1,788 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total value of $170,450.04. Following the completion of the transaction, the senior vice president now owns 15,388 shares in the company, valued at $1,466,938.04. This represents a 10.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ryan A. Milburn sold 4,546 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total value of $437,325.20. Following the sale, the vice president now owns 14,138 shares in the company, 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. Company insiders own 1.10% of the company's stock.
Allison Transmission Trading Down 0.9 %
Shares of NYSE:ALSN traded down $0.79 during mid-day trading on Wednesday, reaching $88.24. The stock had a trading volume of 467,244 shares, compared to its average volume of 640,492. The firm has a market cap of $7.52 billion, a PE ratio of 10.62 and a beta of 0.95. Allison Transmission Holdings, Inc. has a twelve month low of $71.49 and a twelve month high of $122.53. 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 firm has a 50 day simple moving average of $97.54 and a two-hundred day simple moving average of $106.15.
Allison Transmission (NYSE:ALSN - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share (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, research analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.
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 $0.27 dividend. This is a boost from Allison Transmission's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Monday, March 3rd. Allison Transmission's dividend payout ratio is 13.00%.
Allison Transmission announced that its board has approved a stock repurchase plan on Thursday, February 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the auto parts company to purchase up to 57.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.
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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