New York State Common Retirement Fund Cuts Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

New York State Common Retirement Fund trimmed its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,398 shares of the auto parts company’s stock after selling 1,500 shares during the period. New York State Common Retirement Fund owned 0.11% of Allison Transmission worth $10,093,000 at the end of the most recent quarter.

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

Allison Transmission Stock Up 0.9 %

NYSE:ALSN opened at $99.41 on Wednesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42. The company’s fifty day moving average price is $111.17 and its 200-day moving average price is $104.73. Allison Transmission Holdings, Inc. has a 1-year low of $71.49 and a 1-year high of $122.53. The firm has a market capitalization of $8.50 billion, a P/E ratio of 11.96 and a beta of 1.00.

Allison Transmission (NYSE:ALSN) last posted its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. As a group, equities research analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission announced that its board has approved a share buyback plan on Thursday, February 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the auto parts company to purchase up to 57.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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 issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.09%. This is a positive change 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 12.03%.

Insider Activity at Allison Transmission

In other news, CEO David S. Graziosi sold 11,590 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $119.44, for a total transaction of $1,384,309.60. Following the sale, the chief executive officer now owns 168,833 shares of the company’s stock, valued at $20,165,413.52. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP John Coll sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total transaction of $216,800.00. Following the completion of the transaction, the senior vice president now owns 6,420 shares of the company’s stock, valued at approximately $695,928. This represents a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Robert W. Baird raised their price target on Allison Transmission from $103.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 13th. Citigroup cut 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 note on Wednesday, February 12th. Bank of America lifted their price objective on shares of Allison Transmission from $67.00 to $77.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their target price on Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.75.

Allison Transmission 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.