Proficio Capital Partners LLC Takes $42,000 Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Proficio Capital Partners LLC acquired 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 13F filing with the Securities & Exchange Commission. The firm acquired 41,603 shares of the auto parts company's stock, valued at approximately $42,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC grew its stake in Allison Transmission by 88.3% during the third quarter. Sanctuary Advisors LLC now owns 200,997 shares of the auto parts company's stock worth $19,310,000 after buying an additional 94,229 shares during the period. Franklin Resources Inc. boosted its position in Allison Transmission by 46.8% during the 3rd quarter. Franklin Resources Inc. now owns 250,050 shares of the auto parts company's stock worth $24,955,000 after purchasing an additional 79,745 shares during the period. Geode Capital Management LLC increased its holdings in Allison Transmission by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,961,834 shares of the auto parts company's stock valued at $188,511,000 after purchasing an additional 79,506 shares in the last quarter. Allianz Asset Management GmbH raised its position in 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. Finally, Tri Ri Asset Management Corp acquired a new position in shares of Allison Transmission during the third quarter worth about $5,932,000. Hedge funds and other institutional investors own 96.90% of the company's stock.

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Insider Activity

In related news, VP Ryan A. Milburn sold 4,546 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total transaction of $437,325.20. Following the completion of the transaction, the vice president now owns 14,138 shares in the company, valued at $1,360,075.60. The trade was a 24.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALSN. The Goldman Sachs Group raised their target price on Allison Transmission from $82.00 to $94.00 and gave the company a "sell" rating in a report on Thursday, December 12th. StockNews.com cut shares of Allison Transmission from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Citigroup lowered their price target on shares of Allison Transmission from $115.00 to $108.00 and set a "neutral" rating for the company in a report on Monday. JPMorgan Chase & Co. cut their price target on Allison Transmission from $129.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. Finally, Morgan Stanley raised their price objective on Allison Transmission from $110.00 to $112.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Allison Transmission has an average rating of "Hold" and an average price target of $101.13.

Allison Transmission Stock Performance

Shares of NYSE ALSN traded up $1.61 during trading on Wednesday, reaching $98.96. The stock had a trading volume of 695,327 shares, compared to its average volume of 624,106. The firm's 50 day moving average price is $103.81 and its two-hundred day moving average price is $106.54. Allison Transmission Holdings, Inc. has a one year low of $71.49 and a one year high of $122.53. The stock has a market cap of $8.43 billion, a PE ratio of 11.91 and a beta of 0.95. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.42 and a current ratio of 3.04.

Allison Transmission (NYSE:ALSN - Get Free Report) last released its earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. On average, research analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

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

Allison Transmission Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.27 dividend. This is an increase from Allison Transmission's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, March 3rd. Allison Transmission's payout ratio is presently 13.00%.

Allison Transmission Company 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.