Bank of Montreal Can Has $7.66 Million Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Bank of Montreal Can decreased its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,851 shares of the auto parts company’s stock after selling 8,507 shares during the quarter. Bank of Montreal Can owned approximately 0.08% of Allison Transmission worth $7,656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALSN. Loomis Sayles & Co. L P boosted its stake in Allison Transmission by 301.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 2,378,731 shares of the auto parts company’s stock valued at $257,046,000 after purchasing an additional 1,785,687 shares during the period. Norges Bank acquired a new position in shares of Allison Transmission in the fourth quarter valued at about $108,916,000. Raymond James Financial Inc. bought a new position in Allison Transmission during the fourth quarter worth about $41,081,000. FMR LLC increased its position in Allison Transmission by 1.9% during the fourth quarter. FMR LLC now owns 12,993,015 shares of the auto parts company’s stock worth $1,404,025,000 after acquiring an additional 247,318 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Allison Transmission by 177.7% in the 4th quarter. Alliancebernstein L.P. now owns 144,951 shares of the auto parts company’s stock worth $15,663,000 after purchasing an additional 92,754 shares in the last quarter. 96.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Allison Transmission from $110.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday. Morgan Stanley lifted their price objective on Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Citigroup reduced their target price on Allison Transmission from $108.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com raised shares of Allison Transmission from a “hold” rating to a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Allison Transmission presently has a consensus rating of “Hold” and a consensus price target of $98.00.

Allison Transmission Stock Up 0.0 %

Shares of NYSE ALSN opened at $88.65 on Monday. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 10.67 and a beta of 0.95. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45. Allison Transmission Holdings, Inc. has a 12 month low of $71.49 and a 12 month high of $122.53. The stock has a 50-day moving average price of $98.58 and a two-hundred day moving average price of $106.32.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.27 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.22%. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. Allison Transmission’s payout ratio is currently 13.00%.

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

Insiders Place Their Bets

In other news, SVP John Coll sold 1,788 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $95.33, for a total transaction of $170,450.04. Following the completion of the transaction, the senior vice president now owns 15,388 shares of the company’s stock, valued at approximately $1,466,938.04. This trade represents a 10.41 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction 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 directly owns 14,138 shares in the company, valued at approximately $1,360,075.60. This represents a 24.33 % decrease in their position. The disclosure for this sale can be found here. 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.