Burgundy Asset Management Ltd. Reduces Stock Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Burgundy Asset Management Ltd. decreased its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 4.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,752,311 shares of the auto parts company’s stock after selling 178,502 shares during the quarter. Allison Transmission comprises 3.0% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 5th biggest position. Burgundy Asset Management Ltd.’s holdings in Allison Transmission were worth $284,800,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Advisor Group LLC increased its holdings in shares of Allison Transmission by 6.1% during the fourth quarter. Private Advisor Group LLC now owns 6,172 shares of the auto parts company’s stock worth $359,000 after buying an additional 353 shares in the last quarter. BNP Paribas Financial Markets raised its position in Allison Transmission by 121.2% during the 4th quarter. BNP Paribas Financial Markets now owns 63,809 shares of the auto parts company’s stock worth $3,710,000 after purchasing an additional 34,968 shares during the last quarter. Norges Bank bought a new stake in shares of Allison Transmission in the 4th quarter valued at $56,334,000. UBS Group AG increased its position in shares of Allison Transmission by 35.7% during the fourth quarter. UBS Group AG now owns 135,039 shares of the auto parts company’s stock worth $7,853,000 after buying an additional 35,501 shares during the period. Finally, Quest Partners LLC bought a new position in Allison Transmission during the fourth quarter worth $372,000. Institutional investors and hedge funds own 96.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com lowered Allison Transmission from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 2nd. Citigroup started coverage on shares of Allison Transmission in a report on Wednesday, June 26th. They set a “neutral” rating and a $80.00 price objective for the company. Robert W. Baird increased their price objective on Allison Transmission from $87.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Raymond James started coverage on Allison Transmission in a research report on Friday, June 28th. They set an “outperform” rating and a $85.00 target price on the stock. Finally, The Goldman Sachs Group raised their price objective on Allison Transmission from $63.00 to $72.00 and gave the company a “sell” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $79.57.

Insider Activity

In related news, SVP John Coll sold 2,000 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $75.06, for a total transaction of $150,120.00. Following the sale, the senior vice president now owns 14,420 shares of the company’s stock, valued at approximately $1,082,365.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Allison Transmission Trading Up 0.1 %

Shares of Allison Transmission stock opened at $88.57 on Thursday. The stock has a market capitalization of $7.75 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.54 and a beta of 0.99. Allison Transmission Holdings, Inc. has a 52-week low of $50.13 and a 52-week high of $92.82. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.19 and a current ratio of 2.78. The stock’s 50-day simple moving average is $86.16 and its 200 day simple moving average is $79.94.

Allison Transmission (NYSE:ALSN) last posted its earnings results on Thursday, July 25th. The auto parts company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.09. The firm had revenue of $816.00 million during the quarter, compared to the consensus estimate of $799.44 million. Allison Transmission had a net margin of 21.95% and a return on equity of 52.18%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $1.92 earnings per share. As a group, research analysts anticipate that Allison Transmission Holdings, Inc. will post 7.89 EPS for the current year.

Allison Transmission Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, August 19th. Allison Transmission’s payout ratio is currently 13.35%.

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.