Wasatch Advisors LP Sells 175,476 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Wasatch Advisors LP cut its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 24.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 539,240 shares of the auto parts company's stock after selling 175,476 shares during the quarter. Wasatch Advisors LP owned 0.62% of Allison Transmission worth $58,270,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. EAM Investors LLC acquired a new stake in Allison Transmission in the fourth quarter worth $5,766,000. Smith Group Asset Management LLC bought a new stake in shares of Allison Transmission in the fourth quarter worth about $2,161,000. Allspring Global Investments Holdings LLC raised its position in shares of Allison Transmission by 18.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company's stock worth $31,643,000 after purchasing an additional 46,435 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Allison Transmission by 14.5% during the 4th quarter. Teacher Retirement System of Texas now owns 53,014 shares of the auto parts company's stock valued at $5,729,000 after purchasing an additional 6,728 shares in the last quarter. Finally, Convergence Investment Partners LLC grew its position in shares of Allison Transmission by 115.6% in the 4th quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company's stock valued at $1,507,000 after purchasing an additional 7,479 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Allison Transmission Stock Down 3.6 %

Shares of NYSE:ALSN traded down $3.22 during midday trading on Monday, hitting $85.56. The stock had a trading volume of 134,201 shares, compared to its average volume of 641,703. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45. The business's 50-day simple moving average is $95.97 and its 200-day simple moving average is $106.04. Allison Transmission Holdings, Inc. has a 12 month low of $71.49 and a 12 month high of $122.53. The company has a market cap of $7.29 billion, a P/E ratio of 10.30 and a beta of 0.95.

Allison Transmission (NYSE:ALSN - Get Free Report) last issued its 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 net margin of 22.67% and a return on equity of 47.95%. On average, sell-side analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 earnings per share 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 issued a dividend of $0.27 per share. This is an increase from Allison Transmission's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.08 annualized dividend and a yield of 1.26%. Allison Transmission's dividend payout ratio (DPR) is currently 13.00%.

Allison Transmission announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the auto parts company to buy up to 57.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

ALSN has been the subject of several research analyst reports. Morgan Stanley reduced their price target on shares of Allison Transmission from $112.00 to $94.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. StockNews.com cut Allison Transmission from a "buy" rating to a "hold" rating in a report on Saturday. Robert W. Baird cut their price target on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Citigroup cut their target price on Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Allison Transmission presently has an average rating of "Hold" and an average price target of $97.88.

Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, VP Ryan A. Milburn sold 4,546 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $96.20, for a total value of $437,325.20. Following the transaction, the vice president now directly owns 14,138 shares of the company's stock, valued at $1,360,075.60. This represents a 24.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Coll sold 1,788 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 directly owns 15,388 shares in the company, valued at $1,466,938.04. The trade was a 10.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

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.