Evoke Wealth LLC Invests $228,000 in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Evoke Wealth LLC purchased a new stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) in the 4th quarter, Holdings Channel reports. The fund purchased 2,114 shares of the auto parts company’s stock, valued at approximately $228,000.

Several other institutional investors have also recently added to or reduced their stakes in ALSN. SRH Advisors LLC bought a new position in Allison Transmission during the 4th quarter valued at about $26,000. World Investment Advisors LLC bought a new position in Allison Transmission during the 3rd quarter valued at about $29,000. Kestra Investment Management LLC bought a new position in Allison Transmission during the 4th quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Allison Transmission during the 4th quarter valued at about $31,000. Finally, Quarry LP lifted its holdings in Allison Transmission by 46.7% during the 3rd quarter. Quarry LP now owns 358 shares of the auto parts company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. 96.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Allison Transmission

In related news, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total transaction of $216,800.00. Following the transaction, the senior vice president now directly owns 6,420 shares of the company’s stock, valued at approximately $695,928. This trade represents a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ryan A. Milburn sold 4,546 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $96.20, for a total transaction of $437,325.20. Following the transaction, the vice president now directly owns 14,138 shares in the company, valued at approximately $1,360,075.60. This represents a 24.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 12th. Morgan Stanley boosted their target price on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. StockNews.com cut shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. lowered their price target on shares of Allison Transmission from $129.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Citigroup lowered their price target on shares of Allison Transmission from $120.00 to $115.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $102.00.

Allison Transmission Stock Performance

NYSE ALSN opened at $99.17 on Thursday. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45. The firm’s fifty day moving average price is $107.37 and its two-hundred day moving average price is $105.81. Allison Transmission Holdings, Inc. has a 1 year low of $71.49 and a 1 year high of $122.53. The firm has a market capitalization of $8.48 billion, a P/E ratio of 11.93 and a beta of 1.02.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. As a group, research analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission declared that its board has approved a share repurchase program on Thursday, February 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the auto parts company to repurchase up to 57.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Allison Transmission Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.27 dividend. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Monday, March 3rd. Allison Transmission’s payout ratio is currently 13.00%.

Allison Transmission Company Profile

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.