Old West Investment Management LLC cut its position in Allison Transmission Holdings Inc (NYSE:ALSN) by 43.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,315 shares of the auto parts company’s stock after selling 19,881 shares during the quarter. Old West Investment Management LLC’s holdings in Allison Transmission were worth $987,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Allison Transmission by 394.0% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,777,252 shares of the auto parts company’s stock valued at $66,700,000 after purchasing an additional 1,417,467 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Allison Transmission by 140.0% during the second quarter. Goldman Sachs Group Inc. now owns 1,030,458 shares of the auto parts company’s stock worth $38,652,000 after acquiring an additional 601,174 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Allison Transmission by 57.2% during the second quarter. Renaissance Technologies LLC now owns 1,543,200 shares of the auto parts company’s stock worth $57,885,000 after acquiring an additional 561,334 shares in the last quarter. APG Asset Management N.V. bought a new position in Allison Transmission during the third quarter worth $19,846,000. Finally, Koch Industries Inc. bought a new position in Allison Transmission during the second quarter worth $506,000.
Shares of Allison Transmission Holdings Inc (NYSE:ALSN) opened at $41.12 on Thursday. The company has a market cap of $5,849.05, a PE ratio of 18.26, a PEG ratio of 1.66 and a beta of 1.22. The company has a quick ratio of 1.15, a current ratio of 1.50 and a debt-to-equity ratio of 4.57. Allison Transmission Holdings Inc has a 1-year low of $32.80 and a 1-year high of $45.69.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 20th were issued a $0.15 dividend. The ex-dividend date was Friday, November 17th. This represents a $0.60 annualized dividend and a dividend yield of 1.46%. Allison Transmission’s dividend payout ratio is currently 26.55%.
Allison Transmission declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the auto parts company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several research analysts recently issued reports on ALSN shares. Piper Jaffray Companies reissued an “underweight” rating and set a $25.00 target price (down from $31.00) on shares of Allison Transmission in a research note on Wednesday, August 30th. Deutsche Bank downgraded shares of Allison Transmission from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $43.00 to $33.00 in a report on Tuesday, September 5th. ValuEngine upgraded shares of Allison Transmission from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Longbow Research downgraded shares of Allison Transmission from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Finally, J P Morgan Chase & Co upped their price objective on shares of Allison Transmission from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $44.18.
In related news, VP Eric C. Scroggins sold 7,500 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $39.51, for a total transaction of $296,325.00. Following the completion of the sale, the vice president now owns 23,480 shares in the company, valued at $927,694.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David S. Graziosi sold 39,264 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $37.23, for a total transaction of $1,461,798.72. Following the transaction, the chief financial officer now owns 233,387 shares of the company’s stock, valued at approximately $8,688,998.01. The disclosure for this sale can be found here. Corporate insiders own 7.90% of the company’s stock.
Allison Transmission Profile
Allison Transmission Holdings, Inc and its subsidiaries design and manufacture commercial and defense fully-automatic transmissions. The Company manufactures fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium-and heavy-tactical United States defense vehicles. The Company’s transmissions are used in a range of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (primarily school, transit and hybrid-transit), motorhomes, off-highway vehicles and equipment (energy, mining and construction) and defense vehicles (wheeled and tracked).
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