MERIAN GLOBAL INVESTORS UK Ltd lowered its position in shares of Allison Transmission Holdings Inc (NYSE:ALSN) by 3.0% in the first quarter, HoldingsChannel reports. The firm owned 1,314,768 shares of the auto parts company’s stock after selling 40,951 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in Allison Transmission were worth $59,059,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in ALSN. Raymond James & Associates boosted its stake in Allison Transmission by 6.9% during the 1st quarter. Raymond James & Associates now owns 65,916 shares of the auto parts company’s stock worth $2,961,000 after acquiring an additional 4,237 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Allison Transmission by 10.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,379 shares of the auto parts company’s stock worth $421,000 after acquiring an additional 915 shares during the last quarter. Outlook Wealth Advisors LLC boosted its stake in Allison Transmission by 426.6% during the 1st quarter. Outlook Wealth Advisors LLC now owns 6,424 shares of the auto parts company’s stock worth $289,000 after acquiring an additional 5,204 shares during the last quarter. Stephens Inc. AR boosted its stake in Allison Transmission by 101.3% during the 1st quarter. Stephens Inc. AR now owns 16,851 shares of the auto parts company’s stock worth $757,000 after acquiring an additional 8,481 shares during the last quarter. Finally, Carillon Tower Advisers Inc. bought a new position in Allison Transmission during the 1st quarter worth approximately $7,010,000.
ALSN traded down $0.86 during trading on Friday, reaching $44.02. The company had a trading volume of 1,204 shares, compared to its average volume of 924,394. The company has a debt-to-equity ratio of 3.37, a quick ratio of 1.49 and a current ratio of 1.89. Allison Transmission Holdings Inc has a 12 month low of $39.41 and a 12 month high of $53.76. The firm has a market cap of $5.56 billion, a P/E ratio of 9.20, a PEG ratio of 0.95 and a beta of 1.36.
Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Tuesday, April 23rd. The auto parts company reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.20. Allison Transmission had a net margin of 24.04% and a return on equity of 97.36%. The firm had revenue of $675.00 million for the quarter, compared to analyst estimates of $658.01 million. During the same quarter in the previous year, the firm posted $1.08 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Allison Transmission Holdings Inc will post 4.66 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Friday, May 17th. Allison Transmission’s payout ratio is currently 12.55%.
In other news, Director William R. Harker sold 4,977,043 shares of Allison Transmission stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $46.70, for a total value of $232,427,908.10. Following the sale, the director now directly owns 10,318 shares in the company, valued at $481,850.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO G Frederick Bohley acquired 5,000 shares of the stock in a transaction dated Friday, April 26th. The stock was acquired at an average price of $46.00 per share, for a total transaction of $230,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 40,940 shares of the company’s stock, valued at $1,883,240. The disclosure for this purchase can be found here. Insiders own 9.00% of the company’s stock.
Several research firms recently weighed in on ALSN. Credit Suisse Group lifted their price objective on shares of Allison Transmission from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 27th. Stifel Nicolaus lowered shares of Allison Transmission from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $55.00 to $48.00 in a research note on Wednesday, March 6th. Zacks Investment Research raised shares of Allison Transmission from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Monday. Mizuho reissued a “hold” rating and set a $53.00 price objective on shares of Allison Transmission in a research note on Tuesday, February 26th. Finally, ValuEngine raised shares of Allison Transmission from a “hold” rating to a “buy” rating in a research note on Wednesday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.22.
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Allison Transmission Profile
Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers 12 transmission product lines for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school, transit, and hybrid-transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.
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