Parkside Financial Bank & Trust Sells 1,009 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Parkside Financial Bank & Trust decreased its position in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 60.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 659 shares of the auto parts company’s stock after selling 1,009 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Allison Transmission were worth $71,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. SRH Advisors LLC bought a new position in Allison Transmission in the fourth quarter worth $26,000. World Investment Advisors LLC bought a new position in shares of Allison Transmission during the third quarter valued at $29,000. Kestra Investment Management LLC bought a new position in shares of Allison Transmission during the fourth quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Allison Transmission during the fourth quarter valued at $31,000. Finally, Quarry LP increased its holdings in shares of Allison Transmission by 46.7% during the third quarter. Quarry LP now owns 358 shares of the auto parts company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 96.90% of the company’s stock.

Allison Transmission Trading Up 1.3 %

Shares of NYSE:ALSN opened at $101.79 on Monday. The stock’s 50-day simple moving average is $110.50 and its two-hundred day simple moving average is $105.18. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 12.25 and a beta of 1.00. Allison Transmission Holdings, Inc. has a 52-week low of $71.49 and a 52-week high of $122.53. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.42 and a current ratio of 3.04.

Allison Transmission (NYSE:ALSN) last announced its earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. Analysts expect that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the auto parts company to reacquire up to 57.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Allison Transmission Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.27 per share. This is a boost from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Monday, March 3rd. Allison Transmission’s dividend payout ratio is currently 13.00%.

Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, SVP John Coll sold 2,000 shares of Allison Transmission stock in a transaction that occurred 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 owns 6,420 shares of the company’s stock, valued at $695,928. The trade was a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup reduced their price target on Allison Transmission from $120.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. StockNews.com downgraded Allison Transmission from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley raised their price target on Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group lifted their price objective on Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $100.75.

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.