Allison Transmission Holdings Inc (ALSN) Shares Sold by BlackRock Inc.
BlackRock Inc. reduced its holdings in Allison Transmission Holdings Inc (NYSE:ALSN) by 17.5% in the fourth quarter, HoldingsChannel reports. The firm owned 5,687,298 shares of the auto parts company’s stock after selling 1,206,949 shares during the period. BlackRock Inc.’s holdings in Allison Transmission were worth $249,728,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of ALSN. First Interstate Bank bought a new stake in shares of Allison Transmission during the fourth quarter valued at approximately $26,000. Putnam Investments LLC boosted its position in shares of Allison Transmission by 0.5% during the third quarter. Putnam Investments LLC now owns 306,774 shares of the auto parts company’s stock valued at $15,956,000 after buying an additional 1,519 shares during the last quarter. Triad Investment Management purchased a new position in shares of Allison Transmission during the fourth quarter valued at approximately $2,754,000. RDL Financial Inc. boosted its position in shares of Allison Transmission by 7.9% during the fourth quarter. RDL Financial Inc. now owns 15,754 shares of the auto parts company’s stock valued at $692,000 after buying an additional 1,156 shares during the last quarter. Finally, FDx Advisors Inc. boosted its position in shares of Allison Transmission by 4.4% during the fourth quarter. FDx Advisors Inc. now owns 20,927 shares of the auto parts company’s stock valued at $919,000 after buying an additional 873 shares during the last quarter. Institutional investors and hedge funds own 95.92% of the company’s stock.
Several brokerages recently issued reports on ALSN. Zacks Investment Research cut Allison Transmission from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 28th. ValuEngine raised Allison Transmission from a “hold” rating to a “buy” rating in a research report on Wednesday, February 27th. Mizuho reaffirmed a “hold” rating and set a $53.00 target price on shares of Allison Transmission in a research report on Tuesday, February 26th. Credit Suisse Group lifted their target price on Allison Transmission from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. Finally, Stifel Nicolaus cut Allison Transmission from a “buy” rating to a “hold” rating and cut their target price for the company from $55.00 to $48.00 in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $48.78.
Allison Transmission (NYSE:ALSN) last posted its quarterly earnings data on Monday, February 25th. The auto parts company reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.18. Allison Transmission had a return on equity of 96.42% and a net margin of 23.55%. The business had revenue of $647.00 million for the quarter, compared to analysts’ expectations of $631.22 million. During the same quarter in the previous year, the firm earned $1.51 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. As a group, research analysts predict that Allison Transmission Holdings Inc will post 4.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.60 annualized dividend and a yield of 1.31%. Allison Transmission’s dividend payout ratio is currently 12.55%.
In other Allison Transmission news, Director Lawrence E. Dewey sold 106,176 shares of the business’s stock in a transaction on Wednesday, January 9th. The stock was sold at an average price of $46.13, for a total value of $4,897,898.88. Following the sale, the director now directly owns 215,152 shares in the company, valued at $9,924,961.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William R. Harker sold 2,030 shares of the business’s stock in a transaction on Friday, January 18th. The shares were sold at an average price of $50.01, for a total value of $101,520.30. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by insiders.
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Allison Transmission Profile
Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers 12 transmission product lines for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school, transit, and hybrid-transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.
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