Hsbc Holdings PLC cut its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,356 shares of the auto parts company’s stock after selling 254 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of Allison Transmission worth $3,501,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of ALSN. AMI Investment Management Inc. boosted its holdings in shares of Allison Transmission by 7.1% in the 1st quarter. AMI Investment Management Inc. now owns 97,189 shares of the auto parts company’s stock valued at $3,816,000 after buying an additional 6,438 shares during the last quarter. JPMorgan Chase & Co. raised its position in Allison Transmission by 5.1% during the first quarter. JPMorgan Chase & Co. now owns 334,703 shares of the auto parts company’s stock worth $13,140,000 after acquiring an additional 16,209 shares in the last quarter. Raymond James & Associates lifted its stake in Allison Transmission by 267.3% in the first quarter. Raymond James & Associates now owns 33,711 shares of the auto parts company’s stock valued at $1,323,000 after acquiring an additional 24,534 shares during the last quarter. Citigroup Inc. grew its position in shares of Allison Transmission by 1.5% in the 1st quarter. Citigroup Inc. now owns 74,855 shares of the auto parts company’s stock valued at $2,938,000 after acquiring an additional 1,127 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Allison Transmission by 31.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,096 shares of the auto parts company’s stock worth $514,000 after purchasing an additional 3,142 shares during the last quarter. 96.57% of the stock is currently owned by institutional investors and hedge funds.
Allison Transmission Stock Up 0.3 %
ALSN opened at $75.58 on Thursday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.94 and a current ratio of 2.49. The stock has a fifty day moving average of $61.85 and a 200-day moving average of $58.69. Allison Transmission Holdings, Inc. has a fifty-two week low of $41.61 and a fifty-two week high of $76.43. The company has a market capitalization of $6.59 billion, a P/E ratio of 10.16, a P/E/G ratio of 1.40 and a beta of 0.97.
Allison Transmission (NYSE:ALSN – Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The auto parts company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.49. Allison Transmission had a net margin of 22.17% and a return on equity of 60.35%. The firm had revenue of $775.00 million during the quarter, compared to the consensus estimate of $744.00 million. During the same quarter in the previous year, the firm posted $1.52 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts expect that Allison Transmission Holdings, Inc. will post 7.64 EPS for the current year.
Allison Transmission Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Monday, March 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, March 1st. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.23. Allison Transmission’s dividend payout ratio (DPR) is 12.37%.
Insider Buying and Selling at Allison Transmission
In other news, CEO David S. Graziosi sold 76,318 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.57, for a total transaction of $5,385,761.26. Following the sale, the chief executive officer now directly owns 125,479 shares of the company’s stock, valued at approximately $8,855,053.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO David S. Graziosi sold 76,318 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $70.57, for a total transaction of $5,385,761.26. Following the completion of the sale, the chief executive officer now owns 125,479 shares of the company’s stock, valued at approximately $8,855,053.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Niekerk Teresa Van sold 6,241 shares of Allison Transmission stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $74.87, for a total transaction of $467,263.67. Following the completion of the transaction, the vice president now directly owns 21,112 shares in the company, valued at $1,580,655.44. The disclosure for this sale can be found here. Insiders sold 85,245 shares of company stock valued at $6,048,673 in the last three months. Corporate insiders own 1.10% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on ALSN shares. Robert W. Baird lifted their price target on Allison Transmission from $63.00 to $68.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. The Goldman Sachs Group boosted their target price on Allison Transmission from $48.00 to $55.00 and gave the stock a “sell” rating in a report on Thursday, February 15th. Morgan Stanley assumed coverage on Allison Transmission in a report on Monday, January 8th. They set an “equal weight” rating and a $62.00 price target for the company. Finally, StockNews.com upgraded shares of Allison Transmission from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.00.
View Our Latest Research Report on ALSN
About Allison Transmission
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. The company offers transmissions for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school and transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.
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