Icon Advisers Inc. Co. Sells 2,100 Shares of Allison Transmission Holdings Inc (ALSN)

Icon Advisers Inc. Co. cut its holdings in Allison Transmission Holdings Inc (NYSE:ALSN) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,400 shares of the auto parts company’s stock after selling 2,100 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Allison Transmission were worth $3,463,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ALSN. Group One Trading L.P. purchased a new position in shares of Allison Transmission in the third quarter valued at $105,000. The Manufacturers Life Insurance Company lifted its position in Allison Transmission by 12.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock worth $201,000 after buying an additional 607 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Allison Transmission in the third quarter worth $203,000. BlueCrest Capital Management Ltd bought a new stake in Allison Transmission in the second quarter worth $208,000. Finally, CIBC Asset Management Inc bought a new stake in Allison Transmission in the fourth quarter worth $220,000.

In other news, Director James A. Star sold 135,460 shares of Allison Transmission stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $44.50, for a total transaction of $6,027,970.00. Following the completion of the sale, the director now directly owns 41,450 shares in the company, valued at $1,844,525. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David S. Graziosi sold 1,800 shares of Allison Transmission stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $42.04, for a total value of $75,672.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,413,129 shares of company stock valued at $150,042,595. Corporate insiders own 7.90% of the company’s stock.

A number of brokerages recently issued reports on ALSN. Robert W. Baird restated a “buy” rating and issued a $52.00 price target on shares of Allison Transmission in a research report on Wednesday, November 1st. BidaskClub upgraded Allison Transmission from a “hold” rating to a “buy” rating in a research report on Saturday, October 21st. Piper Jaffray Companies set a $26.00 price target on Allison Transmission and gave the stock a “sell” rating in a research report on Friday, November 17th. JPMorgan Chase & Co. raised their price target on Allison Transmission from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Finally, Bank of America downgraded Allison Transmission from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $52.00 to $48.00 in a research report on Thursday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Allison Transmission currently has a consensus rating of “Hold” and an average target price of $43.64.

Shares of Allison Transmission Holdings Inc (NYSE ALSN) opened at $41.65 on Friday. Allison Transmission Holdings Inc has a 52-week low of $32.93 and a 52-week high of $45.69. The firm has a market capitalization of $5,890.00, a price-to-earnings ratio of 18.35, a PEG ratio of 1.52 and a beta of 1.14. The company has a debt-to-equity ratio of 4.57, a quick ratio of 1.15 and a current ratio of 1.50.

Allison Transmission announced that its board has authorized a stock 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 purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, February 16th. This represents a $0.60 annualized dividend and a dividend yield of 1.44%. Allison Transmission’s dividend payout ratio (DPR) is 26.43%.

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Allison Transmission Company 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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Institutional Ownership by Quarter for Allison Transmission (NYSE:ALSN)

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