380,171 Shares in Allison Transmission Holdings, Inc. (NYSE:ALSN) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 380,171 shares of the auto parts company's stock, valued at approximately $41,081,000. Raymond James Financial Inc. owned approximately 0.44% of Allison Transmission at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. SRH Advisors LLC purchased a new stake in Allison Transmission during the 4th quarter valued at about $26,000. World Investment Advisors LLC acquired a new position in shares of Allison Transmission during the 3rd quarter worth approximately $29,000. Kestra Investment Management LLC purchased a new stake in shares of Allison Transmission in the fourth quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Allison Transmission in the fourth quarter valued at approximately $31,000. Finally, Quarry LP increased its holdings in shares of Allison Transmission by 46.7% in the third quarter. Quarry LP now owns 358 shares of the auto parts company's stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALSN has been the topic of several research reports. 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. The Goldman Sachs Group increased their target price on shares of Allison Transmission from $82.00 to $94.00 and gave the stock a "sell" rating in a report on Thursday, December 12th. Morgan Stanley boosted their price target on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Finally, StockNews.com cut Allison Transmission from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Allison Transmission has a consensus rating of "Hold" and an average target price of $100.75.

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Allison Transmission Stock Down 3.3 %

Shares of Allison Transmission stock traded down $3.19 during trading on Thursday, hitting $93.43. 872,004 shares of the stock were exchanged, compared to its average volume of 666,515. The firm's 50-day moving average price is $108.64 and its 200 day moving average price is $105.60. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 11.24 and a beta of 1.02. Allison Transmission Holdings, Inc. has a 12-month low of $71.49 and a 12-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.

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

Allison Transmission Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.16%. This is an increase from Allison Transmission's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 3rd. Allison Transmission's dividend payout ratio (DPR) is 13.00%.

Allison Transmission announced that its board has approved a stock repurchase plan on Thursday, February 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the auto parts company to reacquire up to 57.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Allison Transmission news, SVP John Coll sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, December 31st. The stock was 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 owns 6,420 shares in the company, valued at approximately $695,928. The trade was a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

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.