Allison Transmission Holdings, Inc. $ALSN Shares Sold by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. cut its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 85.7% during the third quarter, Holdings Channel reports. The institutional investor owned 73,669 shares of the auto parts company’s stock after selling 440,284 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Allison Transmission were worth $6,253,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ALSN. Boston Partners lifted its holdings in Allison Transmission by 117.6% in the third quarter. Boston Partners now owns 2,038,429 shares of the auto parts company’s stock valued at $173,093,000 after acquiring an additional 1,101,824 shares during the period. AQR Capital Management LLC grew its stake in shares of Allison Transmission by 18.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,915,887 shares of the auto parts company’s stock worth $181,741,000 after purchasing an additional 304,974 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Allison Transmission by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,907,768 shares of the auto parts company’s stock valued at $161,926,000 after purchasing an additional 32,996 shares in the last quarter. State Street Corp increased its holdings in shares of Allison Transmission by 1.1% in the 2nd quarter. State Street Corp now owns 1,652,290 shares of the auto parts company’s stock valued at $156,951,000 after purchasing an additional 17,783 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Allison Transmission by 35.7% in the second quarter. Federated Hermes Inc. now owns 1,544,799 shares of the auto parts company’s stock valued at $146,740,000 after purchasing an additional 406,540 shares during the period. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Insiders Place Their Bets

In other news, SVP John Coll sold 1,791 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $98.79, for a total value of $176,932.89. Following the completion of the transaction, the senior vice president directly owned 10,021 shares of the company’s stock, valued at $989,974.59. The trade was a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eric C. Scroggins sold 1,313 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $114.40, for a total value of $150,207.20. Following the completion of the sale, the insider owned 17,654 shares in the company, valued at $2,019,617.60. This represents a 6.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Citigroup boosted their price objective on shares of Allison Transmission from $110.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Weiss Ratings downgraded shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lifted their price target on shares of Allison Transmission from $87.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Raymond James Financial boosted their price target on Allison Transmission from $110.00 to $115.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 22nd. Finally, Zacks Research raised Allison Transmission from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Allison Transmission has an average rating of “Hold” and a consensus target price of $111.11.

Allison Transmission Trading Down 0.2%

Shares of ALSN opened at $112.84 on Monday. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.85 and a quick ratio of 4.17. Allison Transmission Holdings, Inc. has a 1-year low of $76.01 and a 1-year high of $128.85. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.74 and a beta of 0.96. The firm has a 50 day simple moving average of $113.71 and a 200-day simple moving average of $97.11.

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Monday, March 9th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, March 9th. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 1.0%. Allison Transmission’s dividend payout ratio (DPR) is 15.83%.

About Allison Transmission

Allison Transmission Holdings Inc is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company’s products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison’s core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.

In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.