Convergence Investment Partners LLC reduced its stake in Allison Transmission Holdings Inc (NYSE:ALSN) by 63.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,924 shares of the auto parts company’s stock after selling 20,814 shares during the period. Convergence Investment Partners LLC’s holdings in Allison Transmission were worth $448,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Burgundy Asset Management Ltd. boosted its holdings in Allison Transmission by 1.3% during the second quarter. Burgundy Asset Management Ltd. now owns 4,796,019 shares of the auto parts company’s stock worth $179,899,000 after purchasing an additional 61,875 shares during the last quarter. Standard Life Investments LTD boosted its holdings in Allison Transmission by 15.9% during the second quarter. Standard Life Investments LTD now owns 3,682,743 shares of the auto parts company’s stock worth $138,158,000 after purchasing an additional 504,518 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Allison Transmission by 11.8% during the third quarter. Schroder Investment Management Group now owns 2,430,400 shares of the auto parts company’s stock worth $90,459,000 after purchasing an additional 255,688 shares during the last quarter. Jennison Associates LLC boosted its holdings in Allison Transmission by 3.8% during the third quarter. Jennison Associates LLC now owns 1,788,436 shares of the auto parts company’s stock worth $67,120,000 after purchasing an additional 65,743 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in Allison Transmission by 394.0% in the third 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 acquiring an additional 1,417,467 shares during the last quarter.

In other Allison Transmission news, CFO David S. Graziosi sold 39,264 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $37.23, for a total transaction of $1,461,798.72. Following the completion of the sale, the chief financial officer now owns 233,387 shares of the company’s stock, valued at approximately $8,688,998.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Eric C. Scroggins sold 7,500 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $39.51, for a total transaction of $296,325.00. Following the sale, the vice president now directly owns 23,480 shares of the company’s stock, valued at approximately $927,694.80. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by corporate insiders.

Allison Transmission Holdings Inc (ALSN) opened at $41.44 on Friday. The company has a market cap of $5,829.20, a price-to-earnings ratio of 18.19, a PEG ratio of 1.65 and a beta of 1.22. Allison Transmission Holdings Inc has a twelve month low of $32.80 and a twelve month high of $45.69. 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 (NYSE:ALSN) last issued its quarterly earnings results on Monday, October 30th. The auto parts company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.27. The firm had revenue of $595.00 million for the quarter, compared to analyst estimates of $533.53 million. Allison Transmission had a net margin of 16.34% and a return on equity of 45.65%. The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. equities research analysts expect that Allison Transmission Holdings Inc will post 2.49 earnings per share for the current fiscal year.

Allison Transmission announced that its board has approved a stock buyback program on Wednesday, November 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 20th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.45%. Allison Transmission’s dividend payout ratio (DPR) is 26.55%.

A number of research firms have weighed in on ALSN. Buckingham Research began coverage on shares of Allison Transmission in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $36.00 target price on the stock. ValuEngine upgraded shares of Allison Transmission from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Robert W. Baird reiterated a “buy” rating and issued a $52.00 target price on shares of Allison Transmission in a research note on Wednesday, November 1st. Piper Jaffray Companies reiterated an “underweight” rating and issued a $25.00 target price (down from $31.00) on shares of Allison Transmission in a research note on Wednesday, August 30th. Finally, BidaskClub raised shares of Allison Transmission from a “hold” rating to a “buy” rating in a research report on Saturday, October 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $44.18.

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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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