Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Sold by Covestor Ltd

Covestor Ltd lowered its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 58.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390 shares of the auto parts company’s stock after selling 546 shares during the period. Covestor Ltd’s holdings in Allison Transmission were worth $42,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in ALSN. SRH Advisors LLC purchased a new position in Allison Transmission in the fourth quarter worth approximately $26,000. Kestra Investment Management LLC acquired a new position in shares of Allison Transmission during the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Allison Transmission in the fourth quarter valued at $31,000. SJS Investment Consulting Inc. raised its stake in Allison Transmission by 1,650.0% in the fourth quarter. SJS Investment Consulting Inc. now owns 420 shares of the auto parts company’s stock valued at $45,000 after buying an additional 396 shares in the last quarter. Finally, Whittier Trust Co. purchased a new stake in Allison Transmission during the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALSN. JPMorgan Chase & Co. cut their target price on Allison Transmission from $110.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Raymond James reduced their price objective on shares of Allison Transmission from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday. StockNews.com raised shares of Allison Transmission from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Morgan Stanley boosted their price target on shares of Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Citigroup dropped their price objective on Allison Transmission from $108.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $100.13.

Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, SVP John Coll sold 1,788 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $95.33, for a total transaction of $170,450.04. Following the sale, the senior vice president now directly owns 15,388 shares in the company, valued at approximately $1,466,938.04. The trade was a 10.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $437,325.20. Following the completion of the transaction, the vice president now 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 disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Allison Transmission Stock Performance

Shares of ALSN stock opened at $88.93 on Wednesday. The stock’s 50-day moving average price is $97.54 and its 200 day moving average price is $106.15. 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 stock has a market capitalization of $7.58 billion, a PE ratio of 10.70 and a beta of 0.95. Allison Transmission Holdings, Inc. has a 52-week low of $71.49 and a 52-week high of $122.53.

Allison Transmission (NYSE:ALSN) last released its quarterly 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%. As a group, equities research analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.21%. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. Allison Transmission’s dividend payout ratio (DPR) is presently 13.00%.

Allison Transmission declared that its board has authorized a stock repurchase plan on Thursday, February 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the auto parts company to purchase up to 57.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Allison Transmission

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.