Dimensional Fund Advisors LP lifted its position in shares of Allison Transmission Holdings Inc (NYSE:ALSN) by 3.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,454,902 shares of the auto parts company’s stock after purchasing an additional 51,221 shares during the quarter. Dimensional Fund Advisors LP owned 1.03% of Allison Transmission worth $54,600,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Old Mutual Global Investors UK Ltd. grew its stake in shares of Allison Transmission by 394.0% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,777,252 shares of the auto parts company’s stock worth $66,700,000 after acquiring an additional 1,417,467 shares during the period. Goldman Sachs Group Inc. boosted its stake in Allison Transmission by 140.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,030,458 shares of the auto parts company’s stock worth $38,652,000 after purchasing an additional 601,174 shares during the period. Renaissance Technologies LLC boosted its stake in Allison Transmission by 57.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,543,200 shares of the auto parts company’s stock worth $57,885,000 after purchasing an additional 561,334 shares during the period. APG Asset Management N.V. bought a new position in Allison Transmission in the 3rd quarter worth about $19,846,000. Finally, Koch Industries Inc. bought a new position in Allison Transmission in the 2nd quarter worth about $506,000.
Several research analysts have commented on ALSN shares. BidaskClub upgraded Allison Transmission from a “hold” rating to a “buy” rating in a research note on Saturday, October 21st. Citigroup raised their target price on Allison Transmission from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Zacks Investment Research cut Allison Transmission from a “strong-buy” rating to a “sell” rating in a report on Tuesday, October 3rd. Piper Jaffray Companies set a $26.00 price target on Allison Transmission and gave the stock a “sell” rating in a research note on Friday, November 17th. Finally, Buckingham Research lifted their price target on Allison Transmission from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $44.18.
Allison Transmission Holdings Inc (ALSN) opened at $44.58 on Thursday. The stock has a market capitalization of $6,320.00, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 1.67 and a beta of 1.21. Allison Transmission Holdings Inc has a one year low of $32.93 and a one year high of $45.69. The company has a debt-to-equity ratio of 4.57, a quick ratio of 1.15 and a current ratio of 1.50.
Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Monday, October 30th. The auto parts company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.27. Allison Transmission had a return on equity of 45.65% and a net margin of 16.34%. The business had revenue of $595.00 million during the quarter, compared to analysts’ expectations of $533.53 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. The firm’s quarterly revenue was up 37.1% compared to the same quarter last year. equities research analysts forecast that Allison Transmission Holdings Inc will post 2.49 EPS for the current fiscal year.
Allison Transmission announced that its board has approved a share repurchase plan on Wednesday, November 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
In related news, CFO David S. Graziosi sold 1,800 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $42.04, for a total transaction of $75,672.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James A. Star sold 136,160 shares of the company’s stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $43.26, for a total value of $5,890,281.60. Following the sale, the director now owns 41,450 shares of the company’s stock, valued at approximately $1,793,127. The disclosure for this sale can be found here. Insiders sold 2,326,591 shares of company stock valued at $101,586,899 in the last 90 days. Company insiders own 7.90% of the company’s stock.
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Allison Transmission Company 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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