The Manufacturers Life Insurance Company Reduces Stock Holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN)

The Manufacturers Life Insurance Company cut its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,046 shares of the auto parts company’s stock after selling 566 shares during the period. The Manufacturers Life Insurance Company’s holdings in Allison Transmission were worth $2,694,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Triad Wealth Partners LLC acquired a new stake in Allison Transmission during the 2nd quarter valued at $33,000. Fifth Third Bancorp raised its stake in Allison Transmission by 139.8% in the 2nd quarter. Fifth Third Bancorp now owns 868 shares of the auto parts company’s stock valued at $66,000 after purchasing an additional 506 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Allison Transmission by 27.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 744 shares of the auto parts company’s stock valued at $71,000 after purchasing an additional 162 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Allison Transmission during the 3rd quarter worth about $82,000. Finally, Covestor Ltd grew its holdings in shares of Allison Transmission by 35.1% during the third quarter. Covestor Ltd now owns 936 shares of the auto parts company’s stock worth $90,000 after buying an additional 243 shares in the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Allison Transmission

In other news, VP Thomas Eifert sold 2,000 shares of Allison Transmission stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $95.00, for a total transaction of $190,000.00. Following the sale, the vice president now owns 9,601 shares in the company, valued at $912,095. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David S. Graziosi sold 11,590 shares of the company’s stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,380 shares of company stock valued at $2,830,837 over the last three months. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. StockNews.com lowered shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 2nd. Bank of America lifted their price objective on Allison Transmission from $67.00 to $77.00 and gave the company an “underperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Allison Transmission from $80.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Oppenheimer upped their price objective on shares of Allison Transmission from $90.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird raised their target price on shares of Allison Transmission from $103.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $94.25.

Allison Transmission Stock Performance

Allison Transmission stock opened at $117.42 on Monday. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.83 and a quick ratio of 2.25. Allison Transmission Holdings, Inc. has a 12 month low of $54.25 and a 12 month high of $122.53. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 2.10 and a beta of 0.98. The stock’s 50-day moving average is $108.50 and its 200-day moving average is $91.55.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.26. Allison Transmission had a net margin of 22.66% and a return on equity of 51.13%. The firm had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $790.08 million. During the same period in the previous year, the company posted $1.76 earnings per share. Allison Transmission’s revenue was up 12.0% compared to the same quarter last year. Equities analysts anticipate that Allison Transmission Holdings, Inc. will post 8.21 earnings per share for the current year.

Allison Transmission Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were issued a $0.25 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.00 annualized dividend and a yield of 0.85%. Allison Transmission’s dividend payout ratio is currently 12.18%.

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.