Neuberger Berman Group LLC grew its position in shares of Allison Transmission Holdings Inc (NYSE:ALSN) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,732,598 shares of the auto parts company’s stock after acquiring an additional 10,476 shares during the period. Neuberger Berman Group LLC owned about 1.93% of Allison Transmission worth $102,554,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Group One Trading L.P. purchased a new position in shares of Allison Transmission during the third quarter valued at about $105,000. Tower Research Capital LLC TRC increased its position in shares of Allison Transmission by 7,314.3% during the second quarter. Tower Research Capital LLC TRC now owns 5,190 shares of the auto parts company’s stock valued at $195,000 after buying an additional 5,120 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Allison Transmission by 12.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock valued at $201,000 after buying an additional 607 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Allison Transmission during the third quarter valued at about $203,000. Finally, Menta Capital LLC purchased a new position in shares of Allison Transmission during the second quarter valued at about $206,000.
In other news, CFO David S. Graziosi sold 39,264 shares of the stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $37.23, for a total transaction of $1,461,798.72. Following the sale, the chief financial officer now owns 233,387 shares in the company, valued at $8,688,998.01. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Eric C. Scroggins sold 7,500 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $39.51, for a total transaction of $296,325.00. Following the sale, the vice president now owns 23,480 shares in the company, valued at approximately $927,694.80. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by corporate insiders.
Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Monday, October 30th. The auto parts company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.27. The business had revenue of $595.00 million for the quarter, compared to analysts’ expectations of $533.53 million. Allison Transmission had a net margin of 16.34% and a return on equity of 45.65%. The business’s revenue was up 37.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. equities analysts expect that Allison Transmission Holdings Inc will post 2.49 EPS for the current year.
Allison Transmission announced that its board has approved a share buyback plan on Wednesday, November 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Monday, November 20th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, November 17th. Allison Transmission’s dividend payout ratio (DPR) is presently 26.55%.
Several equities analysts recently issued reports on ALSN shares. ValuEngine upgraded shares of Allison Transmission from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub upgraded shares of Allison Transmission from a “hold” rating to a “buy” rating in a research report on Saturday, October 21st. Robert W. Baird reiterated a “buy” rating and set a $52.00 price target on shares of Allison Transmission in a research report on Wednesday, November 1st. Citigroup upped their price objective on shares of Allison Transmission from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Finally, Royal Bank of Canada restated a “buy” rating on shares of Allison Transmission in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Allison Transmission currently has a consensus rating of “Hold” and a consensus target price of $44.18.
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About Allison Transmission
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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