Envestnet Portfolio Solutions Inc. Sells 105 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Envestnet Portfolio Solutions Inc. cut its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,425 shares of the auto parts company’s stock after selling 105 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Allison Transmission were worth $262,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALSN. Advisors Asset Management Inc. increased its stake in Allison Transmission by 180.6% in the third quarter. Advisors Asset Management Inc. now owns 1,905 shares of the auto parts company’s stock valued at $183,000 after purchasing an additional 1,226 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Allison Transmission by 34.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 914,918 shares of the auto parts company’s stock valued at $87,896,000 after buying an additional 233,214 shares in the last quarter. Citigroup Inc. raised its stake in Allison Transmission by 4.2% during the 3rd quarter. Citigroup Inc. now owns 43,114 shares of the auto parts company’s stock worth $4,142,000 after buying an additional 1,733 shares during the period. Bank of Montreal Can lifted its holdings in Allison Transmission by 6.3% during the third quarter. Bank of Montreal Can now owns 79,358 shares of the auto parts company’s stock worth $7,658,000 after acquiring an additional 4,690 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Allison Transmission by 30.0% in the third quarter. BNP Paribas Financial Markets now owns 34,958 shares of the auto parts company’s stock valued at $3,358,000 after acquiring an additional 8,072 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Allison Transmission

In related news, VP Ryan A. Milburn sold 4,546 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total value of $437,325.20. Following the sale, the vice president now owns 14,138 shares in the company, valued at approximately $1,360,075.60. This represents a 24.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Coll sold 2,000 shares of Allison Transmission stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $108.40, for a total transaction of $216,800.00. Following the transaction, the senior vice president now directly owns 6,420 shares of the company’s stock, valued at approximately $695,928. This trade represents a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALSN. Citigroup cut their price objective on Allison Transmission from $120.00 to $115.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their price target on shares of Allison Transmission from $129.00 to $110.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Morgan Stanley raised their price objective on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. The Goldman Sachs Group upped their target price on shares of Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 12th. Finally, StockNews.com downgraded Allison Transmission from a “buy” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Allison Transmission has an average rating of “Hold” and an average target price of $102.00.

Allison Transmission Trading Down 0.2 %

Allison Transmission stock opened at $99.18 on Friday. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 11.93 and a beta of 1.02. The firm has a 50-day moving average of $105.63 and a 200-day moving average of $106.12. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42. Allison Transmission Holdings, Inc. has a one year low of $71.49 and a one year high of $122.53.

Allison Transmission (NYSE:ALSN) last issued 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 return on equity of 47.95% and a net margin of 22.67%. On average, equities analysts expect that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission announced that its Board of Directors has approved a stock 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 generally a sign that the company’s board believes its stock is undervalued.

Allison Transmission Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.27 per share. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, March 3rd. Allison Transmission’s dividend payout ratio is 13.00%.

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.