Comerica Bank lessened its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN – Get Rating) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,737 shares of the auto parts company’s stock after selling 551 shares during the quarter. Comerica Bank’s holdings in Allison Transmission were worth $1,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of the stock. AMI Investment Management Inc. grew its holdings in shares of Allison Transmission by 7.1% during the first quarter. AMI Investment Management Inc. now owns 97,189 shares of the auto parts company’s stock valued at $3,816,000 after buying an additional 6,438 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Allison Transmission by 5.1% in the first quarter. JPMorgan Chase & Co. now owns 334,703 shares of the auto parts company’s stock worth $13,140,000 after purchasing an additional 16,209 shares during the last quarter. Raymond James & Associates increased its holdings in Allison Transmission by 267.3% in the 1st quarter. Raymond James & Associates now owns 33,711 shares of the auto parts company’s stock worth $1,323,000 after buying an additional 24,534 shares in the last quarter. Citigroup Inc. increased its holdings in Allison Transmission by 1.5% in the 1st quarter. Citigroup Inc. now owns 74,855 shares of the auto parts company’s stock worth $2,938,000 after buying an additional 1,127 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Allison Transmission by 31.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,096 shares of the auto parts company’s stock worth $514,000 after buying an additional 3,142 shares in the last quarter. Hedge funds and other institutional investors own 99.89% of the company’s stock.
Analyst Ratings Changes
ALSN has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Allison Transmission in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Morgan Stanley raised their target price on Allison Transmission from $33.00 to $36.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 14th. The Goldman Sachs Group lowered their price objective on shares of Allison Transmission from $37.00 to $32.00 and set a “sell” rating on the stock in a research note on Friday, October 14th. Citigroup upped their target price on shares of Allison Transmission to $44.00 in a report on Tuesday, November 1st. Finally, Credit Suisse Group boosted their price objective on shares of Allison Transmission from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, October 28th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Allison Transmission currently has an average rating of “Hold” and a consensus price target of $40.00.
Insider Activity at Allison Transmission
In other news, VP Eric C. Scroggins sold 4,761 shares of the stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $43.35, for a total transaction of $206,389.35. Following the completion of the transaction, the vice president now directly owns 16,807 shares in the company, valued at approximately $728,583.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.
Allison Transmission Stock Up 0.2 %
ALSN opened at $41.63 on Friday. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.26 and a current ratio of 1.72. The firm’s fifty day moving average is $42.94 and its 200 day moving average is $39.62. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.01. Allison Transmission Holdings, Inc. has a fifty-two week low of $32.63 and a fifty-two week high of $45.33.
Allison Transmission (NYSE:ALSN – Get Rating) last posted its quarterly earnings results on Wednesday, October 26th. The auto parts company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.14. Allison Transmission had a return on equity of 71.96% and a net margin of 18.85%. The company had revenue of $710.00 million for the quarter, compared to analysts’ expectations of $681.87 million. During the same period in the previous year, the firm earned $0.89 EPS. The firm’s revenue was up 25.2% compared to the same quarter last year. On average, sell-side analysts forecast that Allison Transmission Holdings, Inc. will post 5.21 earnings per share for the current fiscal year.
Allison Transmission Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Monday, November 21st were given a $0.21 dividend. The ex-dividend date was Friday, November 18th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.02%. Allison Transmission’s dividend payout ratio is currently 16.28%.
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 transmissions for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school and transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.
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