Mitsubishi UFJ Trust & Banking Corp Cuts Stock Holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 30.6% during the 4th quarter, Holdings Channel reports. The firm owned 20,426 shares of the auto parts company’s stock after selling 8,999 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Allison Transmission were worth $2,207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smith Group Asset Management LLC purchased a new stake in shares of Allison Transmission in the fourth quarter worth about $2,161,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Allison Transmission by 18.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company’s stock worth $31,643,000 after acquiring an additional 46,435 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Allison Transmission by 14.5% during the 4th quarter. Teacher Retirement System of Texas now owns 53,014 shares of the auto parts company’s stock valued at $5,729,000 after acquiring an additional 6,728 shares during the last quarter. Convergence Investment Partners LLC grew its holdings in shares of Allison Transmission by 115.6% in the fourth quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company’s stock valued at $1,507,000 after purchasing an additional 7,479 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Allison Transmission by 46.8% in the third quarter. Franklin Resources Inc. now owns 250,050 shares of the auto parts company’s stock worth $24,955,000 after purchasing an additional 79,745 shares during the last quarter. Institutional investors own 96.90% of the company’s stock.

Insider Buying and Selling

In related news, VP Ryan A. Milburn sold 4,546 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $96.20, for a total transaction of $437,325.20. Following the completion of the transaction, the vice president now owns 14,138 shares in the company, valued at $1,360,075.60. The trade was a 24.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on ALSN shares. JPMorgan Chase & Co. dropped their price objective on shares of Allison Transmission from $129.00 to $110.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Morgan Stanley boosted their price objective on 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 lowered Allison Transmission from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Citigroup decreased their price target on Allison Transmission from $115.00 to $108.00 and set a “neutral” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group lifted their price objective on shares of Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $101.13.

Allison Transmission Stock Down 0.4 %

Shares of ALSN opened at $95.69 on Tuesday. 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 has a market capitalization of $8.18 billion, a P/E ratio of 11.51 and a beta of 1.02. The firm has a fifty day moving average price of $104.69 and a 200-day moving average price of $106.52. Allison Transmission Holdings, Inc. has a 12-month low of $71.49 and a 12-month high of $122.53.

Allison Transmission (NYSE:ALSN) last issued its earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current year.

Allison Transmission declared that its Board of Directors has authorized a stock buyback 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 purchase up to 57.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.13%. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 3rd. Allison Transmission’s payout ratio is presently 13.00%.

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.