Los Angeles Capital Management LLC Cuts Stock Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Los Angeles Capital Management LLC cut its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 34.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,934 shares of the auto parts company’s stock after selling 47,047 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.10% of Allison Transmission worth $9,502,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SRH Advisors LLC bought a new position in Allison Transmission during the fourth quarter valued at about $26,000. World Investment Advisors LLC purchased a new position in Allison Transmission in the third quarter valued at about $29,000. Kestra Investment Management LLC bought a new position in shares of Allison Transmission during the 4th quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Allison Transmission during the 4th quarter worth approximately $31,000. Finally, Quarry LP lifted its stake in Allison Transmission by 46.7% in the third quarter. Quarry LP now owns 358 shares of the auto parts company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALSN has been the subject of a number of recent research reports. StockNews.com downgraded Allison Transmission from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group lifted their price objective on Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 12th. Morgan Stanley boosted their price objective on Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Bank of America increased their target price on shares of Allison Transmission from $67.00 to $77.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer boosted their price target on shares of Allison Transmission from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $100.75.

Allison Transmission Stock Up 1.0 %

Shares of NYSE ALSN opened at $100.41 on Thursday. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45. The company has a market cap of $8.59 billion, a P/E ratio of 12.08 and a beta of 1.00. Allison Transmission Holdings, Inc. has a 52 week low of $71.49 and a 52 week high of $122.53. The business has a 50-day simple moving average of $110.92 and a two-hundred day simple moving average of $104.83.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. Research analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.27 per share. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, March 3rd. Allison Transmission’s payout ratio is 12.03%.

Allison Transmission declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the auto parts company to purchase up to 57.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Allison Transmission

In other news, SVP John Coll sold 2,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $108.40, for a total transaction of $216,800.00. Following the completion of the transaction, the senior vice president now owns 6,420 shares of the company’s stock, valued at approximately $695,928. The trade was a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Graziosi sold 11,590 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $119.44, for a total transaction of $1,384,309.60. Following the completion of the sale, the chief executive officer now directly owns 168,833 shares in the company, valued at $20,165,413.52. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Allison Transmission Company Profile

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.