Arrowstreet Capital Limited Partnership Purchases 14,038 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Arrowstreet Capital Limited Partnership raised its position in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 656,336 shares of the auto parts company’s stock after purchasing an additional 14,038 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.76% of Allison Transmission worth $70,924,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Citigroup Inc. raised its holdings in Allison Transmission by 4.2% in the 3rd quarter. Citigroup Inc. now owns 43,114 shares of the auto parts company’s stock valued at $4,142,000 after buying an additional 1,733 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Allison Transmission by 6.3% during the third quarter. Bank of Montreal Can now owns 79,358 shares of the auto parts company’s stock valued at $7,658,000 after acquiring an additional 4,690 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Allison Transmission by 30.0% during the third quarter. BNP Paribas Financial Markets now owns 34,958 shares of the auto parts company’s stock worth $3,358,000 after purchasing an additional 8,072 shares during the period. Townsquare Capital LLC bought a new stake in shares of Allison Transmission in the third quarter worth $317,000. Finally, Captrust Financial Advisors increased its holdings in Allison Transmission by 24.1% in the third quarter. Captrust Financial Advisors now owns 31,499 shares of the auto parts company’s stock valued at $3,026,000 after purchasing an additional 6,113 shares during the period. 96.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on ALSN. The Goldman Sachs Group upped their price target on Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 12th. Morgan Stanley upped their target price on Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. StockNews.com downgraded shares of Allison Transmission from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Citigroup reduced their price objective on shares of Allison Transmission from $115.00 to $108.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Allison Transmission from $129.00 to $110.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Two investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $101.13.

Allison Transmission Trading Down 0.4 %

NYSE:ALSN opened at $95.69 on Tuesday. Allison Transmission Holdings, Inc. has a 12 month low of $71.49 and a 12 month high of $122.53. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 11.51 and a beta of 1.02. The firm has a fifty day simple moving average of $104.69 and a two-hundred day simple moving average of $106.52.

Allison Transmission (NYSE:ALSN) last issued its earnings results on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, beating 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%. Analysts expect that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.13%. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 3rd. Allison Transmission’s dividend payout ratio is presently 13.00%.

Allison Transmission declared that its board has authorized a share buyback plan on Thursday, February 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire up to 57.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Allison Transmission

In related news, VP Ryan A. Milburn sold 4,546 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $96.20, for a total value of $437,325.20. Following the transaction, the vice president now owns 14,138 shares of the company’s stock, valued at approximately $1,360,075.60. This trade represents a 24.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Allison Transmission 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.