New York State Common Retirement Fund raised its stake in Allison Transmission Holdings Inc (NYSE:ALSN) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 308,200 shares of the auto parts company’s stock after purchasing an additional 18,200 shares during the period. New York State Common Retirement Fund owned 0.22% of Allison Transmission worth $11,567,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in ALSN. TIAA CREF Investment Management LLC increased its stake in Allison Transmission by 37.9% in the second quarter. TIAA CREF Investment Management LLC now owns 1,630,598 shares of the auto parts company’s stock valued at $61,164,000 after purchasing an additional 448,541 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Allison Transmission by 751.1% in the second quarter. Ameriprise Financial Inc. now owns 56,578 shares of the auto parts company’s stock valued at $2,121,000 after purchasing an additional 49,930 shares during the last quarter. Standard Life Investments LTD increased its stake in Allison Transmission by 15.9% in the second quarter. Standard Life Investments LTD now owns 3,682,743 shares of the auto parts company’s stock valued at $138,158,000 after purchasing an additional 504,518 shares during the last quarter. Nationwide Fund Advisors increased its stake in Allison Transmission by 50.4% in the second quarter. Nationwide Fund Advisors now owns 483,692 shares of the auto parts company’s stock valued at $18,143,000 after purchasing an additional 162,096 shares during the last quarter. Finally, Amalgamated Bank increased its stake in Allison Transmission by 27.8% in the second quarter. Amalgamated Bank now owns 25,986 shares of the auto parts company’s stock valued at $975,000 after purchasing an additional 5,659 shares during the last quarter.
In other Allison Transmission news, insider David S. Graziosi sold 46,200 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $45.03, for a total value of $2,080,386.00. Following the completion of the sale, the insider now owns 240,323 shares of the company’s stock, valued at $10,821,744.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michael Dick sold 6,565 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $45.00, for a total value of $295,425.00. Following the completion of the sale, the senior vice president now directly owns 39,496 shares of the company’s stock, valued at approximately $1,777,320. The disclosure for this sale can be found here. In the last three months, insiders sold 2,326,591 shares of company stock valued at $101,586,899. 7.90% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on ALSN. Robert W. Baird reissued a “buy” rating and issued a $52.00 price objective on shares of Allison Transmission in a report on Wednesday, November 1st. BidaskClub raised Allison Transmission from a “hold” rating to a “buy” rating in a report on Saturday, October 21st. Piper Jaffray Companies set a $26.00 price objective on Allison Transmission and gave the company a “sell” rating in a report on Friday, November 17th. JPMorgan Chase & Co. increased their price objective on Allison Transmission from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Finally, Bank of America set a $52.00 price objective on Allison Transmission and gave the company a “buy” rating in a report on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, six have issued 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 price target of $44.18.
Shares of Allison Transmission Holdings Inc (ALSN) traded up $0.18 during midday trading on Thursday, hitting $44.76. The company had a trading volume of 1,302,269 shares, compared to its average volume of 1,337,205. The company has a current ratio of 1.50, a quick ratio of 1.15 and a debt-to-equity ratio of 4.57. Allison Transmission Holdings Inc has a 52-week low of $32.93 and a 52-week high of $45.69. The firm has a market capitalization of $6,320.00, a P/E ratio of 19.72, a PEG ratio of 1.67 and a beta of 1.21.
Allison Transmission (NYSE:ALSN) last issued its quarterly earnings results on Monday, October 30th. The auto parts company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $595.00 million during the quarter, compared to the consensus estimate of $533.53 million. During the same period last year, the company earned $0.27 earnings per share. The company’s revenue for the quarter was up 37.1% on a year-over-year basis. research analysts expect that Allison Transmission Holdings Inc will post 2.49 EPS for the current year.
Allison Transmission declared that its Board of Directors has authorized a share repurchase plan on Wednesday, November 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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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