Dimensional Fund Advisors LP grew its holdings in shares of Allison Transmission Holdings Inc (NYSE:ALSN) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,454,902 shares of the auto parts company’s stock after buying an additional 51,221 shares during the period. Dimensional Fund Advisors LP owned 1.03% of Allison Transmission worth $54,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Allison Transmission by 7,314.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,190 shares of the auto parts company’s stock valued at $195,000 after purchasing an additional 5,120 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Allison Transmission by 12.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock valued at $201,000 after purchasing an additional 607 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Allison Transmission in the 3rd quarter valued at about $203,000. Menta Capital LLC purchased a new stake in shares of Allison Transmission in the 2nd quarter valued at about $206,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Allison Transmission in the 2nd quarter valued at about $208,000.
Shares of Allison Transmission Holdings Inc (NYSE:ALSN) opened at $44.16 on Thursday. Allison Transmission Holdings Inc has a 52 week low of $32.80 and a 52 week high of $45.69. The company has a quick ratio of 1.15, a current ratio of 1.50 and a debt-to-equity ratio of 4.57. The stock has a market capitalization of $6,217.63, a P/E ratio of 19.54, a P/E/G ratio of 1.65 and a beta of 1.21.
Allison Transmission announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
ALSN has been the subject of several research reports. Piper Jaffray Companies set a $26.00 target price on Allison Transmission and gave the company a “sell” rating in a report on Friday, November 17th. Longbow Research downgraded Allison Transmission from a “buy” rating to a “neutral” rating in a research note on Thursday, October 12th. JPMorgan Chase & Co. upped their price objective on Allison Transmission from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Allison Transmission in a research note on Thursday, November 2nd. Finally, Deutsche Bank set a $37.00 price objective on Allison Transmission and gave the company a “sell” rating in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $44.18.
In related news, VP Eric C. Scroggins sold 7,500 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $39.51, for a total value of $296,325.00. Following the completion of the sale, the vice president now directly owns 23,480 shares in the company, valued at approximately $927,694.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David S. Graziosi sold 1,800 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $42.04, for a total value of $75,672.00. The disclosure for this sale can be found here. Insiders sold a total of 1,388,436 shares of company stock worth $60,013,349 over the last ninety days. Corporate 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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