Comerica Bank lifted its stake in shares of Allison Transmission Holdings Inc (NYSE:ALSN) by 10.5% in the third quarter, Holdings Channel reports. The fund owned 268,056 shares of the auto parts company’s stock after acquiring an additional 25,494 shares during the quarter. Comerica Bank’s holdings in Allison Transmission were worth $12,287,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of ALSN. State of Alaska Department of Revenue raised its position in shares of Allison Transmission by 32.3% during the second quarter. State of Alaska Department of Revenue now owns 15,160 shares of the auto parts company’s stock worth $613,000 after acquiring an additional 3,700 shares during the last quarter. RDL Financial Inc. bought a new position in shares of Allison Transmission during the second quarter worth about $292,000. Capital One National Association raised its position in shares of Allison Transmission by 140.2% during the second quarter. Capital One National Association now owns 102,140 shares of the auto parts company’s stock worth $4,136,000 after acquiring an additional 59,612 shares during the last quarter. Scout Investments Inc. raised its position in shares of Allison Transmission by 110.7% during the second quarter. Scout Investments Inc. now owns 595,785 shares of the auto parts company’s stock worth $24,123,000 after acquiring an additional 313,033 shares during the last quarter. Finally, Alpha Windward LLC bought a new position in shares of Allison Transmission during the second quarter worth about $496,000.
ALSN has been the subject of a number of analyst reports. Mizuho set a $55.00 price objective on Allison Transmission and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Oppenheimer set a $50.00 price objective on Allison Transmission and gave the stock a “buy” rating in a research report on Monday, October 29th. Citigroup lowered their target price on Allison Transmission from $55.00 to $53.00 and set a “buy” rating for the company in a report on Friday, November 2nd. ValuEngine upgraded Allison Transmission from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Finally, Bank of America lifted their target price on Allison Transmission from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Allison Transmission presently has an average rating of “Hold” and an average target price of $47.82.
In other news, VP Eric C. Scroggins sold 4,940 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $49.00, for a total transaction of $242,060.00. Following the completion of the sale, the vice president now owns 23,893 shares in the company, valued at $1,170,757. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Eric C. Scroggins sold 4,470 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $51.20, for a total value of $228,864.00. Following the sale, the vice president now owns 23,423 shares of the company’s stock, valued at approximately $1,199,257.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 388,664 shares of company stock valued at $20,046,606. 8.40% of the stock is currently owned by corporate insiders.
Shares of ALSN stock opened at $46.37 on Wednesday. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 0.97 and a beta of 1.43. The company has a quick ratio of 1.33, a current ratio of 1.71 and a debt-to-equity ratio of 3.69. Allison Transmission Holdings Inc has a fifty-two week low of $37.41 and a fifty-two week high of $53.76.
Allison Transmission (NYSE:ALSN) last issued its earnings results on Monday, October 29th. The auto parts company reported $1.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.17. The business had revenue of $692.00 million during the quarter, compared to the consensus estimate of $656.52 million. Allison Transmission had a return on equity of 90.71% and a net margin of 26.64%. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. On average, research analysts anticipate that Allison Transmission Holdings Inc will post 4.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Monday, November 19th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $0.60 dividend on an annualized basis and a yield of 1.29%. Allison Transmission’s payout ratio is currently 22.56%.
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Allison Transmission Company Profile
Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers 13 transmission product lines with approximately 100 product models for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school, transit, and hybrid-transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.
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