Bank of Montreal Can reduced its stake in Allison Transmission Holdings Inc (NYSE:ALSN) by 21.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,870,236 shares of the auto parts company’s stock after selling 503,042 shares during the quarter. Bank of Montreal Can owned approximately 1.32% of Allison Transmission worth $80,551,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Group One Trading L.P. purchased a new stake in shares of Allison Transmission during the 3rd quarter valued at $105,000. Tower Research Capital LLC TRC increased its position in shares of Allison Transmission by 7,314.3% during 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 increased its position in shares of Allison Transmission by 12.8% during 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 during the 3rd quarter valued at $203,000. Finally, Menta Capital LLC purchased a new stake in shares of Allison Transmission during the 2nd quarter valued at $206,000.
In other Allison Transmission news, CFO David S. Graziosi sold 1,800 shares of the firm’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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director James A. Star sold 136,160 shares of the firm’s stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $43.26, for a total value of $5,890,281.60. Following the completion of the transaction, the director now owns 41,450 shares of the company’s stock, valued at approximately $1,793,127. The disclosure for this sale can be found here. Insiders have sold a total of 2,955,539 shares of company stock valued at $129,683,061 in the last quarter. 7.90% of the stock is owned by corporate insiders.
Allison Transmission (NYSE:ALSN) last posted its quarterly earnings results on Monday, October 30th. The auto parts company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.27. The company had revenue of $595.00 million during the quarter, compared to the consensus estimate of $533.53 million. Allison Transmission had a return on equity of 45.65% and a net margin of 16.34%. The firm’s quarterly 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 EPS. research analysts forecast that Allison Transmission Holdings Inc will post 2.49 earnings per share for the current fiscal year.
Allison Transmission declared that its Board of Directors has approved a stock repurchase program on Wednesday, November 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts have recently issued reports on the company. Bank of America reaffirmed a “buy” rating on shares of Allison Transmission in a research report on Thursday, November 23rd. Piper Jaffray Companies set a $26.00 target price on Allison Transmission and gave the company a “sell” rating in a research report on Friday, November 17th. Zacks Investment Research raised Allison Transmission from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Friday, November 3rd. Royal Bank of Canada reaffirmed a “buy” rating on shares of Allison Transmission in a research report on Thursday, November 2nd. Finally, Citigroup raised their target price on Allison Transmission from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Allison Transmission presently has an average rating of “Hold” and an average target price of $44.18.
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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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