Harvest Fund Management Co. Ltd Acquires 6,164 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Harvest Fund Management Co. Ltd grew its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 166.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,861 shares of the auto parts company’s stock after acquiring an additional 6,164 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Allison Transmission were worth $1,066,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. SRH Advisors LLC acquired a new stake in Allison Transmission in the 4th quarter valued at about $26,000. World Investment Advisors LLC bought a new position in Allison Transmission in the 3rd quarter worth approximately $29,000. Kestra Investment Management LLC acquired a new position in Allison Transmission during the 4th quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Allison Transmission in the 4th quarter valued at $31,000. Finally, Quarry LP increased its stake in shares of Allison Transmission by 46.7% in the 3rd quarter. Quarry LP now owns 358 shares of the auto parts company’s stock valued at $34,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds own 96.90% of the company’s stock.

Allison Transmission Trading Up 1.7 %

NYSE:ALSN opened at $99.17 on Thursday. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42. The business’s 50-day simple moving average is $107.37 and its 200-day simple moving average is $105.81. Allison Transmission Holdings, Inc. has a fifty-two week low of $71.49 and a fifty-two week high of $122.53. The stock has a market capitalization of $8.48 billion, a PE ratio of 11.93 and a beta of 1.02.

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

Allison Transmission Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.27 dividend. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.09%. Allison Transmission’s dividend payout ratio (DPR) is currently 13.00%.

Allison Transmission declared that its Board of Directors has approved a stock repurchase 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 purchase up to 57.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALSN. JPMorgan Chase & Co. cut their price target on Allison Transmission from $129.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday. StockNews.com cut shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 13th. Citigroup decreased their price objective on Allison Transmission from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Morgan Stanley increased their target price on Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Finally, The Goldman Sachs Group boosted their target price on Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $102.00.

Insider Activity

In other Allison Transmission news, VP Ryan A. Milburn sold 4,546 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $96.20, for a total transaction of $437,325.20. Following the sale, the vice president now directly owns 14,138 shares of the company’s stock, valued at $1,360,075.60. The trade was a 24.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP John Coll sold 2,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was 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 approximately $695,928. This represents a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.