JPMorgan Chase & Co. Sells 35,897 Shares of Allison Transmission Holdings, Inc. $ALSN

JPMorgan Chase & Co. trimmed its position in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 354,714 shares of the auto parts company’s stock after selling 35,897 shares during the period. JPMorgan Chase & Co. owned 0.42% of Allison Transmission worth $33,694,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH purchased a new position in Allison Transmission during the second quarter worth about $28,000. SVB Wealth LLC bought a new stake in shares of Allison Transmission during the 1st quarter valued at about $33,000. WPG Advisers LLC purchased a new position in shares of Allison Transmission during the first quarter worth about $34,000. Cullen Frost Bankers Inc. increased its position in shares of Allison Transmission by 3,108.3% in the second quarter. Cullen Frost Bankers Inc. now owns 385 shares of the auto parts company’s stock worth $37,000 after purchasing an additional 373 shares during the last quarter. Finally, Steph & Co. purchased a new stake in Allison Transmission in the second quarter valued at approximately $41,000. Institutional investors own 96.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on ALSN shares. Wells Fargo & Company began coverage on shares of Allison Transmission in a research note on Thursday, November 13th. They issued an “equal weight” rating and a $85.00 price target for the company. Weiss Ratings downgraded shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Zacks Research raised Allison Transmission from a “strong sell” rating to a “hold” rating in a research note on Friday, September 19th. JPMorgan Chase & Co. lowered their price target on Allison Transmission from $90.00 to $87.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Finally, Citigroup cut their price objective on Allison Transmission from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, October 31st. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $92.00.

Allison Transmission Price Performance

ALSN opened at $89.29 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.82 and a quick ratio of 3.06. The stock’s 50 day simple moving average is $83.46 and its 200 day simple moving average is $89.54. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 10.94 and a beta of 0.99. Allison Transmission Holdings, Inc. has a 1 year low of $76.01 and a 1 year high of $121.81.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Wednesday, October 29th. The auto parts company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.32). Allison Transmission had a net margin of 22.78% and a return on equity of 40.46%. The company had revenue of $693.00 million for the quarter, compared to analysts’ expectations of $779.97 million. During the same period last year, the company posted $2.27 EPS. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. As a group, analysts predict that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current year.

Allison Transmission Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 21st. Allison Transmission’s dividend payout ratio is 13.24%.

About Allison Transmission

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.