Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Sold by Vestcor Inc

Vestcor Inc lessened its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 10.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,802 shares of the auto parts company’s stock after selling 948 shares during the period. Vestcor Inc’s holdings in Allison Transmission were worth $843,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ALSN. GSA Capital Partners LLP acquired a new stake in Allison Transmission during the third quarter worth approximately $560,000. Victory Capital Management Inc. grew 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 valued at $23,551,000 after buying an additional 113,868 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Allison Transmission by 133.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,917 shares of the auto parts company’s stock worth $1,337,000 after acquiring an additional 7,944 shares in the last quarter. KBC Group NV lifted its position in Allison Transmission by 15.0% in the third quarter. KBC Group NV now owns 2,221 shares of the auto parts company’s stock valued at $213,000 after acquiring an additional 290 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Allison Transmission in the third quarter valued at $244,000. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Allison Transmission Stock Up 2.7 %

Shares of NYSE:ALSN opened at $96.12 on Friday. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 11.57 and a beta of 1.02. Allison Transmission Holdings, Inc. has a fifty-two week low of $71.49 and a fifty-two week high of $122.53. The firm’s 50-day simple moving average is $108.09 and its 200-day simple moving average is $105.67. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45.

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

Allison Transmission Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.27 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.12%. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. Allison Transmission’s dividend payout ratio (DPR) is 13.00%.

Allison Transmission announced that its board has initiated a share buyback plan on Thursday, February 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the auto parts company to repurchase up to 57.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the completion of the sale, the senior vice president now owns 6,420 shares in the company, valued at $695,928. This trade represents 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 at this link. Insiders own 1.10% of the company’s stock.

Allison Transmission Company Profile

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.