Principal Financial Group Inc. Has $537,000 Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Principal Financial Group Inc. cut its position in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 14.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,587 shares of the auto parts company’s stock after selling 974 shares during the period. Principal Financial Group Inc.’s holdings in Allison Transmission were worth $537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in Allison Transmission by 46.8% during the 3rd quarter. Franklin Resources Inc. now owns 250,050 shares of the auto parts company’s stock worth $24,955,000 after purchasing an additional 79,745 shares in the last quarter. Tri Ri Asset Management Corp bought a new position in shares of Allison Transmission during the 3rd quarter worth approximately $5,932,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Allison Transmission in the third quarter valued at approximately $67,000. World Investment Advisors LLC bought a new stake in shares of Allison Transmission in the third quarter worth $29,000. Finally, Sanctuary Advisors LLC lifted its position in shares of Allison Transmission by 88.3% in the third quarter. Sanctuary Advisors LLC now owns 200,997 shares of the auto parts company’s stock worth $19,310,000 after purchasing an additional 94,229 shares in the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

Allison Transmission Stock Up 1.7 %

Shares of NYSE ALSN opened at $109.48 on Monday. Allison Transmission Holdings, Inc. has a 1 year low of $55.47 and a 1 year high of $122.53. 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 firm has a market cap of $9.48 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 2.03 and a beta of 1.00. The company has a 50 day simple moving average of $113.27 and a 200 day simple moving average of $96.48.

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

Allison Transmission Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. Allison Transmission’s payout ratio is 12.18%.

Insider Buying and Selling

In related news, SVP John Coll sold 2,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total transaction of $216,800.00. Following the transaction, the senior vice president now directly owns 6,420 shares of the company’s stock, valued at $695,928. This represents a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Graziosi sold 11,590 shares of Allison Transmission stock in a transaction on Friday, November 29th. The shares were sold at an average price of $119.44, for a total transaction of $1,384,309.60. Following the completion of the sale, the chief executive officer now directly owns 168,833 shares of the company’s stock, valued at approximately $20,165,413.52. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,639 shares of company stock valued at $2,683,537 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ALSN has been the subject of several recent research reports. StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 26th. The Goldman Sachs Group upped their price target on shares of Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 12th. Robert W. Baird raised their price target on shares of Allison Transmission from $103.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on Allison Transmission from $125.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Finally, Bank of America boosted their price target on Allison Transmission from $67.00 to $77.00 and gave the company an “underperform” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $102.63.

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.