Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,398 shares of the auto parts company’s stock after selling 1,500 shares during the quarter. New York State Common Retirement Fund’s holdings in Allison Transmission were worth $10,093,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALSN. Creative Planning raised its holdings in Allison Transmission by 7.9% in the 3rd quarter. Creative Planning now owns 5,161 shares of the auto parts company’s stock valued at $496,000 after acquiring an additional 380 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Allison Transmission by 4.4% in the third quarter. Private Advisor Group LLC now owns 3,972 shares of the auto parts company’s stock valued at $382,000 after purchasing an additional 167 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Allison Transmission by 46.4% in 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 purchasing an additional 4,837 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Allison Transmission by 0.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 100,752 shares of the auto parts company’s stock worth $9,612,000 after buying an additional 391 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Allison Transmission by 43.0% during the third quarter. Nisa Investment Advisors LLC now owns 36,985 shares of the auto parts company’s stock worth $3,553,000 after buying an additional 11,119 shares during the last quarter. Institutional investors and hedge funds own 96.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ALSN. 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. 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 report on Wednesday, October 30th. Bank of America lifted their target price 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. Morgan Stanley increased their price target on shares of 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, Robert W. Baird lifted their price target on shares of Allison Transmission from $103.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $100.75.

Allison Transmission Trading Up 0.9 %

Shares of ALSN stock opened at $99.41 on Wednesday. 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 cap of $8.50 billion, a PE ratio of 11.96 and a beta of 1.00. The company has a 50-day moving average of $111.17 and a two-hundred day moving average of $104.73. 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 (NYSE:ALSN) last posted its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. On average, analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission Increases Dividend

The company also recently declared 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. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Monday, March 3rd. Allison Transmission’s dividend payout ratio (DPR) is currently 12.03%.

Allison Transmission announced that its board has authorized a share repurchase program on Thursday, February 20th that authorizes the company to buyback $5.00 billion in outstanding 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 typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CEO David S. Graziosi sold 11,590 shares of the company’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 directly owns 168,833 shares of the company’s stock, valued at $20,165,413.52. This represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 6,420 shares of the company’s stock, valued at $695,928. This represents a 23.75 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

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.