Allison Transmission Holdings, Inc. (NYSE:ALSN) Stake Reduced by London Co. of Virginia

London Co. of Virginia reduced its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,555,704 shares of the auto parts company’s stock after selling 14,897 shares during the quarter. Allison Transmission comprises approximately 1.5% of London Co. of Virginia’s holdings, making the stock its 19th largest position. London Co. of Virginia’s holdings in Allison Transmission were worth $276,169,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Transce3nd LLC bought a new position in Allison Transmission during the 4th quarter worth $25,000. SRH Advisors LLC bought a new position in shares of Allison Transmission in the fourth quarter worth $26,000. Kestra Investment Management LLC bought a new position in shares of Allison Transmission in the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Allison Transmission in the fourth quarter worth $31,000. Finally, SJS Investment Consulting Inc. grew its stake in shares of Allison Transmission by 1,650.0% in the fourth quarter. SJS Investment Consulting Inc. now owns 420 shares of the auto parts company’s stock worth $45,000 after purchasing an additional 396 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley increased their price target on Allison Transmission from $94.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Citigroup decreased their price target on Allison Transmission from $108.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Robert W. Baird decreased their price target on Allison Transmission from $123.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. StockNews.com raised Allison Transmission from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. Finally, Raymond James decreased their price target on Allison Transmission from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $98.63.

Allison Transmission Trading Up 0.1%

Shares of ALSN stock opened at $98.78 on Monday. The stock has a 50-day simple moving average of $93.72 and a 200 day simple moving average of $105.46. Allison Transmission Holdings, Inc. has a fifty-two week low of $71.49 and a fifty-two week high of $122.53. The stock has a market capitalization of $8.32 billion, a P/E ratio of 11.89 and a beta of 0.97. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45.

Allison Transmission (NYSE:ALSN) last announced its earnings results on Thursday, May 1st. The auto parts company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.26. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. The business had revenue of $766.00 million during the quarter, compared to analysts’ expectations of $792.18 million. During the same quarter last year, the business posted $1.90 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts expect that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, May 19th. Allison Transmission’s dividend payout ratio is 12.50%.

Allison Transmission announced that its Board of Directors has initiated a stock repurchase program on Thursday, February 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the auto parts company to purchase up to 57.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, SVP John Coll sold 1,788 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total transaction of $170,450.04. Following the completion of the sale, the senior vice president now directly owns 15,388 shares of the company’s stock, valued at $1,466,938.04. This represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Ryan A. Milburn sold 4,546 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $96.20, for a total value of $437,325.20. Following the sale, the vice president now directly owns 14,138 shares of the company’s stock, valued at approximately $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 company insiders.

About Allison Transmission

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.