BlackRock Inc. lessened its position in shares of Allison Transmission Holdings Inc (NYSE:ALSN) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,934,938 shares of the auto parts company’s stock after selling 358,109 shares during the period. BlackRock Inc. owned approximately 4.19% of Allison Transmission worth $255,618,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Group One Trading L.P. purchased a new position in Allison Transmission in the 3rd quarter worth approximately $105,000. The Manufacturers Life Insurance Company grew its stake in Allison Transmission by 12.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock worth $201,000 after buying an additional 607 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Allison Transmission in the 3rd quarter worth approximately $203,000. CIBC Asset Management Inc purchased a new position in Allison Transmission in the 4th quarter worth approximately $220,000. Finally, LVW Advisors LLC purchased a new position in Allison Transmission in the 3rd quarter worth approximately $229,000.
ALSN has been the subject of a number of research reports. Piper Jaffray Companies set a $26.00 price target on shares of Allison Transmission and gave the stock a “sell” rating in a research note on Friday, November 17th. Bank of America cut shares of Allison Transmission from a “buy” rating to a “neutral” rating and cut their price target for the stock from $52.00 to $48.00 in a research note on Thursday, February 8th. Royal Bank of Canada cut shares of Allison Transmission from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $46.00 to $50.00 in a research note on Friday, February 16th. Zacks Investment Research cut shares of Allison Transmission from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. cut shares of Allison Transmission from a “neutral” rating to an “underweight” rating and set a $38.00 price objective for the company. in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Allison Transmission currently has a consensus rating of “Hold” and an average price target of $43.82.
Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Wednesday, February 14th. The auto parts company reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.89. Allison Transmission had a net margin of 22.28% and a return on equity of 60.52%. The company had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $576.57 million. During the same quarter in the prior year, the company earned $0.36 EPS. The firm’s revenue was up 25.4% on a year-over-year basis. analysts forecast that Allison Transmission Holdings Inc will post 3.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.15 per share. The ex-dividend date was Friday, February 16th. This represents a $0.60 annualized dividend and a yield of 1.56%. Allison Transmission’s payout ratio is currently 25.53%.
In other Allison Transmission news, insider David S. Graziosi sold 46,200 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $45.03, for a total transaction of $2,080,386.00. Following the completion of the sale, the insider now owns 240,323 shares of the company’s stock, valued at approximately $10,821,744.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James A. Star sold 293,102 shares of the stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $43.06, for a total transaction of $12,620,972.12. Following the sale, the director now directly owns 41,450 shares of the company’s stock, valued at approximately $1,784,837. The disclosure for this sale can be found here. Insiders have sold a total of 3,399,429 shares of company stock valued at $149,485,666 in the last three months. 7.90% of the stock is currently owned by corporate insiders.
Allison Transmission Profile
Allison Transmission Holdings, Inc and its subsidiaries design and manufacture commercial and defense fully-automatic transmissions. The Company manufactures fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium-and heavy-tactical United States defense vehicles. The Company’s transmissions are used in a range of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (primarily school, transit and hybrid-transit), motorhomes, off-highway vehicles and equipment (energy, mining and construction) and defense vehicles (wheeled and tracked).
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