Strategic Global Advisors LLC bought a new position in Allison Transmission Holdings Inc (NYSE:ALSN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,931 shares of the auto parts company’s stock, valued at approximately $298,000.
A number of other hedge funds also recently added to or reduced their stakes in ALSN. Tower Research Capital LLC TRC grew its stake in Allison Transmission by 7,314.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,190 shares of the auto parts company’s stock valued at $195,000 after buying an additional 5,120 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Allison Transmission by 12.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock worth $201,000 after purchasing an additional 607 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Allison Transmission in the 3rd quarter worth $203,000. Menta Capital LLC acquired a new stake in Allison Transmission in the 2nd quarter worth $206,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in Allison Transmission in the 2nd quarter worth $208,000.
Several analysts have issued reports on the stock. Buckingham Research started coverage on shares of Allison Transmission in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $36.00 price target on the stock. ValuEngine raised shares of Allison Transmission from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Robert W. Baird reaffirmed a “buy” rating and set a $52.00 price objective on shares of Allison Transmission in a report on Wednesday, November 1st. Piper Jaffray Companies reissued an “underweight” rating and set a $25.00 price target (down from $31.00) on shares of Allison Transmission in a report on Wednesday, August 30th. Finally, BidaskClub raised shares of Allison Transmission from a “hold” rating to a “buy” rating in a report on Saturday, October 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $44.18.
Allison Transmission Holdings Inc (NYSE ALSN) traded up $0.50 during trading on Friday, hitting $41.28. 1,844,104 shares of the stock traded hands, compared to its average volume of 1,484,548. The company has a debt-to-equity ratio of 4.57, a current ratio of 1.50 and a quick ratio of 1.15. The firm has a market capitalization of $5,851.89, a PE ratio of 18.27, a PEG ratio of 1.66 and a beta of 1.22. Allison Transmission Holdings Inc has a 12 month low of $32.80 and a 12 month high of $45.69.
Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Monday, October 30th. The auto parts company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.27. Allison Transmission had a net margin of 16.34% and a return on equity of 45.65%. The business had revenue of $595.00 million for the quarter, compared to analyst estimates of $533.53 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue for the quarter was up 37.1% on a year-over-year basis. equities research analysts forecast that Allison Transmission Holdings Inc will post 2.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Monday, November 20th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Friday, November 17th. Allison Transmission’s dividend payout ratio (DPR) is currently 26.55%.
Allison Transmission declared that its board has approved a stock buyback plan on Wednesday, November 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In other Allison Transmission news, VP Eric C. Scroggins sold 7,500 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $39.51, for a total value of $296,325.00. Following the transaction, the vice president now directly owns 23,480 shares in the company, valued at $927,694.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David S. Graziosi sold 39,264 shares of the company’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $37.23, for a total transaction of $1,461,798.72. Following the completion of the transaction, the chief financial officer now owns 233,387 shares in the company, valued at $8,688,998.01. The disclosure for this sale can be found here. Corporate insiders own 7.90% of the company’s stock.
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Allison Transmission Profile
Allison Transmission Holdings, Inc and its subsidiaries design and manufacture commercial and defense fully-automatic transmissions. The Company manufactures fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium-and heavy-tactical United States defense vehicles. The Company’s transmissions are used in a range of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (primarily school, transit and hybrid-transit), motorhomes, off-highway vehicles and equipment (energy, mining and construction) and defense vehicles (wheeled and tracked).
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