Schroder Investment Management Group decreased its position in Allison Transmission Holdings Inc (NYSE:ALSN) by 14.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,081,729 shares of the auto parts company’s stock after selling 348,671 shares during the quarter. Schroder Investment Management Group’s holdings in Allison Transmission were worth $89,660,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in ALSN. Ameriprise Financial Inc. lifted its holdings in shares of 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 buying an additional 49,930 shares during the period. Stifel Financial Corp lifted its holdings in shares of Allison Transmission by 12.7% in the second quarter. Stifel Financial Corp now owns 27,312 shares of the auto parts company’s stock valued at $1,038,000 after buying an additional 3,084 shares during the period. Royal Bank of Canada lifted its holdings in shares of Allison Transmission by 50.6% in the second quarter. Royal Bank of Canada now owns 22,226 shares of the auto parts company’s stock valued at $834,000 after buying an additional 7,466 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of Allison Transmission in the second quarter valued at $1,088,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Allison Transmission in the second quarter valued at $375,000.
Shares of Allison Transmission Holdings Inc (ALSN) opened at $39.32 on Friday. The stock has a market capitalization of $5,507.43, a price-to-earnings ratio of 11.53, a PEG ratio of 1.43 and a beta of 1.15. Allison Transmission Holdings Inc has a 52-week low of $32.93 and a 52-week high of $45.69. 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 declared that its Board of Directors has authorized a stock repurchase program on Wednesday, November 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, February 16th. Allison Transmission’s payout ratio is 17.60%.
In other Allison Transmission news, CFO David S. Graziosi sold 1,800 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $42.04, for a total value of $75,672.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James A. Star sold 322,130 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $44.49, for a total value of $14,331,563.70. Following the completion of the transaction, the director now directly owns 41,450 shares in the company, valued at $1,844,110.50. The disclosure for this sale can be found here. Insiders have sold 3,413,129 shares of company stock worth $150,042,595 over the last three months. 7.90% of the stock is owned by insiders.
A number of brokerages have recently issued reports on ALSN. Zacks Investment Research raised Allison Transmission from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Tuesday, February 13th. Stifel Nicolaus set a $44.00 target price on Allison Transmission and gave the stock a “hold” rating in a research report on Friday, February 9th. William Blair reaffirmed a “buy” rating on shares of Allison Transmission in a research report on Tuesday, February 13th. JPMorgan Chase & Co. lowered Allison Transmission from a “neutral” rating to an “underweight” rating and set a $38.00 target price on the stock. in a research report on Friday. Finally, Bank of America lowered Allison Transmission from a “buy” rating to a “neutral” rating and cut their target price for the stock from $52.00 to $48.00 in a research report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $44.00.
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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