Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 11.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 590,944 shares of the auto parts company’s stock after selling 77,548 shares during the period. Bank of New York Mellon Corp’s holdings in Allison Transmission were worth $63,857,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Planning grew its stake in Allison Transmission by 7.9% during the 3rd quarter. Creative Planning now owns 5,161 shares of the auto parts company’s stock worth $496,000 after buying an additional 380 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Allison Transmission by 4.4% during the third quarter. Private Advisor Group LLC now owns 3,972 shares of the auto parts company’s stock valued at $382,000 after acquiring an additional 167 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Allison Transmission by 46.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,270 shares of the auto parts company’s stock valued at $1,467,000 after acquiring an additional 4,837 shares in the last quarter. US Bancorp DE raised its position in shares of Allison Transmission by 14.3% in the 3rd quarter. US Bancorp DE now owns 8,621 shares of the auto parts company’s stock valued at $828,000 after purchasing an additional 1,079 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Allison Transmission by 1,932.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,265 shares of the auto parts company’s stock worth $506,000 after purchasing an additional 5,006 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Insider Activity at Allison Transmission

In related news, SVP John Coll sold 2,000 shares of Allison Transmission stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the sale, the senior vice president now owns 6,420 shares of the company’s stock, valued at approximately $695,928. This trade represents a 23.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Allison Transmission Stock Down 3.3 %

Shares of ALSN stock opened at $98.42 on Tuesday. Allison Transmission Holdings, Inc. has a twelve month low of $71.49 and a twelve month high of $122.53. The stock has a market cap of $8.42 billion, a P/E ratio of 11.84 and a beta of 1.00. The stock has a 50 day moving average of $110.30 and a 200 day moving average of $105.27. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45.

Allison Transmission (NYSE:ALSN) last posted its earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share (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, sell-side analysts expect that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission announced that its board has approved a share repurchase program on Thursday, February 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the auto parts company to reacquire up to 57.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Allison Transmission Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Monday, March 3rd. This is a boost from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.10%. Allison Transmission’s dividend payout ratio (DPR) is 13.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 13th. The Goldman Sachs Group raised their target price on Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 12th. Morgan Stanley boosted their price target on Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Citigroup reduced their price objective on Allison Transmission from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.75.

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.