NewEdge Advisors LLC Raises Holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN)

NewEdge Advisors LLC raised its position in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 38.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,694 shares of the auto parts company's stock after purchasing an additional 4,893 shares during the period. NewEdge Advisors LLC's holdings in Allison Transmission were worth $1,912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALSN. FMR LLC boosted its stake in Allison Transmission by 1.9% during the fourth quarter. FMR LLC now owns 12,993,015 shares of the auto parts company's stock worth $1,404,025,000 after buying an additional 247,318 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Allison Transmission by 301.1% during the 4th quarter. Loomis Sayles & Co. L P now owns 2,378,731 shares of the auto parts company's stock valued at $257,046,000 after acquiring an additional 1,785,687 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Allison Transmission by 7.0% in 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 purchasing an additional 69,008 shares during the period. Norges Bank acquired a new stake in Allison Transmission during the fourth quarter worth about $108,916,000. Finally, Federated Hermes Inc. raised its stake in Allison Transmission by 3.9% during the fourth quarter. Federated Hermes Inc. now owns 956,691 shares of the auto parts company's stock worth $103,380,000 after purchasing an additional 36,065 shares during the period. Institutional investors and hedge funds own 96.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. 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. Robert W. Baird reduced their target price on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Raymond James lowered their price target on Allison Transmission from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Citigroup reduced their price objective on shares of Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com lowered shares of Allison Transmission from a "buy" rating to a "hold" rating in a research note on Saturday. Two equities research 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $97.88.

Insiders Place Their Bets

In other news, SVP John Coll sold 1,788 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total transaction of $170,450.04. Following the completion of the transaction, the senior vice president now directly owns 15,388 shares of the company's stock, valued at approximately $1,466,938.04. This represents a 10.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $437,325.20. Following the sale, the vice president now directly owns 14,138 shares in the company, valued at $1,360,075.60. This trade represents a 24.33 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Allison Transmission Stock Performance

Shares of ALSN stock opened at $88.21 on Wednesday. The firm has a 50 day moving average of $95.42 and a two-hundred day moving average of $105.82. The stock has a market capitalization of $7.52 billion, a PE ratio of 10.61 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. Allison Transmission Holdings, Inc. has a 52 week low of $71.49 and a 52 week high of $122.53.

Allison Transmission (NYSE:ALSN - Get Free Report) last released its 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, research analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.27 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.22%. This is an increase 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 of Directors has authorized a share repurchase plan on Thursday, February 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the auto parts company to purchase up to 57.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.

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