Atlantic Trust Group LLC acquired a new position in Allison Transmission Holdings Inc (NYSE:ALSN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 31,771 shares of the auto parts company’s stock, valued at approximately $1,192,000.
Several other large investors have also modified their holdings of ALSN. Group One Trading L.P. purchased a new stake in Allison Transmission in the 3rd quarter worth approximately $105,000. Tower Research Capital LLC TRC increased its holdings in Allison Transmission by 7,314.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,190 shares of the auto parts company’s stock worth $195,000 after acquiring an additional 5,120 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Allison Transmission by 12.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock worth $201,000 after acquiring an additional 607 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Allison Transmission in the 3rd quarter worth approximately $203,000. Finally, Menta Capital LLC purchased a new stake in Allison Transmission in the 2nd quarter worth approximately $206,000.
In related news, Director James A. Star sold 438,018 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $43.41, for a total value of $19,014,361.38. Following the completion of the transaction, the director now directly owns 41,450 shares of the company’s stock, valued at $1,799,344.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James A. Star sold 142,028 shares of the firm’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $43.48, for a total transaction of $6,175,377.44. Following the completion of the transaction, the director now directly owns 41,450 shares of the company’s stock, valued at $1,802,246. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,388,436 shares of company stock valued at $60,013,349. 7.90% of the stock is currently owned by insiders.
Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Monday, October 30th. The auto parts company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.27. Allison Transmission had a net margin of 16.34% and a return on equity of 45.65%. The business had revenue of $595.00 million during the quarter, compared to analyst estimates of $533.53 million. During the same period last year, the firm posted $0.27 EPS. The company’s revenue was up 37.1% on a year-over-year basis. equities research analysts anticipate that Allison Transmission Holdings Inc will post 2.49 earnings per share for the current year.
Allison Transmission declared that its board has authorized a share repurchase plan on Wednesday, November 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
Several equities research analysts recently issued reports on the stock. BidaskClub raised shares of Allison Transmission from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Bank of America reissued a “buy” rating on shares of Allison Transmission in a report on Thursday, November 23rd. Zacks Investment Research lowered shares of Allison Transmission from a “strong-buy” rating to a “sell” rating in a report on Tuesday, October 3rd. Buckingham Research increased their price objective on shares of Allison Transmission from $36.00 to $42.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Finally, Citigroup increased their price objective on shares of Allison Transmission from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $44.18.
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About Allison Transmission
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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