Burgundy Asset Management Ltd. Sells 5,742 Shares of Allison Transmission Holdings, Inc. $ALSN

Burgundy Asset Management Ltd. reduced its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,228,704 shares of the auto parts company’s stock after selling 5,742 shares during the quarter. Allison Transmission comprises 2.1% of Burgundy Asset Management Ltd.’s holdings, making the stock its 10th largest position. Burgundy Asset Management Ltd. owned 2.67% of Allison Transmission worth $211,705,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Allison Transmission during the 2nd quarter worth approximately $100,347,000. Caisse DE Depot ET Placement DU Quebec increased its position in Allison Transmission by 109.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 929,434 shares of the auto parts company’s stock worth $88,919,000 after buying an additional 484,916 shares during the period. Federated Hermes Inc. increased its position in Allison Transmission by 35.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,544,799 shares of the auto parts company’s stock worth $146,740,000 after buying an additional 406,540 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Allison Transmission during the second quarter worth $31,740,000. Finally, Jennison Associates LLC boosted its position in shares of Allison Transmission by 35.3% in the second quarter. Jennison Associates LLC now owns 866,363 shares of the auto parts company’s stock valued at $82,296,000 after acquiring an additional 226,146 shares during the period. Institutional investors own 96.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALSN. Weiss Ratings lowered shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. lowered their target price on shares of Allison Transmission from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Zacks Research upgraded Allison Transmission from a “strong sell” rating to a “hold” rating in a research note on Friday, September 19th. Wells Fargo & Company began coverage on Allison Transmission in a research report on Thursday, November 13th. They set an “equal weight” rating and a $85.00 price target on the stock. Finally, Citigroup dropped their price objective on Allison Transmission from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, October 31st. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $92.00.

Allison Transmission Stock Up 2.5%

Shares of ALSN opened at $92.68 on Friday. The firm has a 50 day simple moving average of $83.78 and a two-hundred day simple moving average of $89.34. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.82 and a quick ratio of 3.06. Allison Transmission Holdings, Inc. has a one year low of $76.01 and a one year high of $121.81. The company has a market cap of $7.71 billion, a P/E ratio of 11.36 and a beta of 0.99.

Allison Transmission (NYSE:ALSN) last issued its earnings results on Wednesday, October 29th. The auto parts company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.32). Allison Transmission had a net margin of 22.78% and a return on equity of 40.46%. The business had revenue of $693.00 million during the quarter, compared to analyst estimates of $779.97 million. During the same period in the prior year, the business posted $2.27 EPS. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. Research analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Allison Transmission’s dividend payout ratio is 13.24%.

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.