Capital Fund Management S.A. trimmed its stake in Allison Transmission Holdings Inc (NYSE:ALSN) by 17.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 485,829 shares of the auto parts company’s stock after selling 100,240 shares during the period. Capital Fund Management S.A. owned approximately 0.34% of Allison Transmission worth $20,925,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Allison Transmission by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 850,469 shares of the auto parts company’s stock worth $31,918,000 after purchasing an additional 18,797 shares during the last quarter. Burgundy Asset Management Ltd. grew its position in Allison Transmission by 1.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,796,019 shares of the auto parts company’s stock worth $179,899,000 after purchasing an additional 61,875 shares during the last quarter. Strategic Global Advisors LLC purchased a new position in Allison Transmission during the 3rd quarter worth $298,000. Dimensional Fund Advisors LP grew its position in Allison Transmission by 11.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,403,681 shares of the auto parts company’s stock worth $52,650,000 after purchasing an additional 141,741 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in Allison Transmission by 0.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,732,598 shares of the auto parts company’s stock worth $102,554,000 after purchasing an additional 10,476 shares during the last quarter.
Shares of Allison Transmission Holdings Inc (NYSE ALSN) opened at $42.25 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.50 and a debt-to-equity ratio of 4.57. Allison Transmission Holdings Inc has a 52 week low of $32.93 and a 52 week high of $45.69. The company has a market cap of $5,914.26, a PE ratio of 18.69, a P/E/G ratio of 1.51 and a beta of 1.15.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, February 16th. Allison Transmission’s dividend payout ratio (DPR) is 26.55%.
Allison Transmission declared that its Board of Directors has initiated a share repurchase program on Wednesday, November 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the auto parts company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
ALSN has been the topic of several research reports. BidaskClub raised shares of Allison Transmission from a “hold” rating to a “buy” rating in a research report on Saturday, October 21st. Citigroup raised their target price on shares of Allison Transmission from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Piper Jaffray Companies set a $26.00 target price on shares of Allison Transmission and gave the stock a “sell” rating in a research note on Friday, November 17th. Zacks Investment Research upgraded shares of Allison Transmission from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Friday, November 3rd. Finally, Buckingham Research raised their target price on shares of Allison Transmission from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $43.55.
In related news, VP Eric C. Scroggins sold 7,500 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were 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 owns 23,480 shares in the company, valued at $927,694.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David S. Graziosi sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $42.04, for a total transaction of $75,672.00. The disclosure for this sale can be found here. Insiders sold 3,413,129 shares of company stock valued at $150,042,595 in the last quarter. Company insiders own 7.90% of the company’s stock.
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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