Cornercap Investment Counsel Inc. Sells 2,951 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Cornercap Investment Counsel Inc. lowered its position in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 42.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,947 shares of the auto parts company’s stock after selling 2,951 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Allison Transmission were worth $427,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SRH Advisors LLC bought a new stake in Allison Transmission during the 4th quarter worth approximately $26,000. Kestra Investment Management LLC bought a new stake in Allison Transmission during the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Allison Transmission in the 4th quarter valued at $31,000. Quarry LP lifted its stake in Allison Transmission by 46.7% during the 3rd 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. Finally, SJS Investment Consulting Inc. boosted its holdings in Allison Transmission by 1,650.0% during the 4th quarter. SJS Investment Consulting Inc. now owns 420 shares of the auto parts company’s stock worth $45,000 after acquiring an additional 396 shares during the last quarter. Institutional investors and hedge funds own 96.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ALSN has been the subject of several analyst reports. The Goldman Sachs Group increased their target price on shares of Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 12th. Citigroup reduced 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. JPMorgan Chase & Co. lowered their target price on Allison Transmission from $129.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. StockNews.com lowered shares of Allison Transmission from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Morgan Stanley lifted their price objective on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Allison Transmission currently has a consensus rating of “Hold” and a consensus target price of $102.00.

Insider Activity at Allison Transmission

In related news, SVP John Coll sold 2,000 shares of the business’s 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 completion of the transaction, the senior vice president now owns 6,420 shares of the company’s stock, valued at approximately $695,928. The trade was a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ryan A. Milburn sold 4,546 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total transaction of $437,325.20. Following the completion of the sale, the vice president now owns 14,138 shares in the company, valued at $1,360,075.60. This represents a 24.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Allison Transmission Price Performance

Shares of NYSE:ALSN opened at $96.01 on Friday. The firm has a market capitalization of $8.21 billion, a PE ratio of 11.55 and a beta of 1.02. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45. The company has a 50-day moving average price of $105.16 and a two-hundred day moving average price of $106.31. Allison Transmission Holdings, Inc. has a twelve month low of $71.49 and a twelve month high of $122.53.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, topping 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%. Equities analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is a boost from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.12%. Allison Transmission’s payout ratio is 13.00%.

Allison Transmission announced that its Board of Directors has initiated a share buyback program on Thursday, February 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the auto parts company to buy up to 57.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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.