CIBC Asset Management Inc Takes $244,000 Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

CIBC Asset Management Inc purchased a new position in Allison Transmission Holdings, Inc. (NYSE:ALSN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,542 shares of the auto parts company’s stock, valued at approximately $244,000.

Other large investors have also added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC raised its stake in shares of Allison Transmission by 257.8% in the second quarter. Thompson Siegel & Walmsley LLC now owns 319,428 shares of the auto parts company’s stock valued at $24,245,000 after acquiring an additional 230,152 shares during the period. Victory Capital Management Inc. raised its position in shares of Allison Transmission by 86.7% in the 3rd quarter. Victory Capital Management Inc. now owns 245,148 shares of the auto parts company’s stock worth $23,551,000 after acquiring an additional 113,868 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Allison Transmission in the 2nd quarter worth approximately $7,953,000. Burney Co. grew its stake in Allison Transmission by 34.7% during the 1st quarter. Burney Co. now owns 395,752 shares of the auto parts company’s stock worth $32,119,000 after buying an additional 101,920 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Allison Transmission by 12.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 683,831 shares of the auto parts company’s stock worth $51,903,000 after purchasing an additional 77,649 shares in the last quarter. Institutional investors own 96.90% of the company’s stock.

Insider Activity at Allison Transmission

In other news, VP Thomas Eifert sold 1,741 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $100.00, for a total value of $174,100.00. Following the transaction, the vice president now owns 9,601 shares of the company’s stock, valued at approximately $960,100. The trade was a 15.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John Coll sold 2,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $90.98, for a total value of $181,960.00. Following the sale, the senior vice president now directly owns 12,420 shares of the company’s stock, valued at approximately $1,129,971.60. This represents a 13.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,741 shares of company stock worth $781,520 in the last 90 days. 1.10% of the stock is owned by insiders.

Allison Transmission Price Performance

Shares of NYSE ALSN opened at $119.66 on Friday. Allison Transmission Holdings, Inc. has a 1-year low of $53.09 and a 1-year high of $121.36. The stock’s 50-day moving average is $102.59 and its two-hundred day moving average is $88.07. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.83 and a quick ratio of 2.25. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.06 and a beta of 0.98.

Allison Transmission (NYSE:ALSN) last posted its earnings results on Tuesday, October 29th. The auto parts company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.26. The firm had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $790.08 million. Allison Transmission had a return on equity of 51.13% and a net margin of 22.66%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.76 earnings per share. Analysts forecast that Allison Transmission Holdings, Inc. will post 8.21 EPS for the current fiscal year.

Allison Transmission Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Monday, November 18th. Allison Transmission’s dividend payout ratio (DPR) is 12.18%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Allison Transmission from $72.00 to $82.00 and gave the stock a “sell” rating in a research note on Friday, November 1st. Citigroup lifted their price target on Allison Transmission from $115.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. Bank of America raised their price target on shares of Allison Transmission from $67.00 to $77.00 and gave the stock an “underperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Allison Transmission from $80.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $94.25.

About Allison Transmission

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.