State Street Corp Acquires 13,252 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

State Street Corp grew its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 0.8% in the third quarter, Holdings Channel.com reports. The firm owned 1,682,076 shares of the auto parts company’s stock after buying an additional 13,252 shares during the period. State Street Corp’s holdings in Allison Transmission were worth $161,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new position in Allison Transmission during the second quarter worth about $33,000. Quarry LP boosted its position in Allison Transmission by 46.7% during the third quarter. Quarry LP now owns 358 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Fifth Third Bancorp boosted its position in Allison Transmission by 139.8% during the second quarter. Fifth Third Bancorp now owns 868 shares of the auto parts company’s stock worth $66,000 after purchasing an additional 506 shares during the period. Venturi Wealth Management LLC boosted its position in Allison Transmission by 27.8% during the third quarter. Venturi Wealth Management LLC now owns 744 shares of the auto parts company’s stock worth $71,000 after purchasing an additional 162 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of Allison Transmission in the third quarter valued at approximately $82,000. Institutional investors own 96.90% of the company’s stock.

Allison Transmission Trading Up 0.0 %

Shares of ALSN opened at $116.51 on Friday. The firm’s 50 day simple moving average is $109.92 and its 200 day simple moving average is $92.42. The company has a market capitalization of $10.09 billion, a P/E ratio of 14.19, a P/E/G ratio of 2.03 and a beta of 0.98. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.83 and a quick ratio of 2.25. Allison Transmission Holdings, Inc. has a 1-year low of $55.19 and a 1-year high of $122.53.

Allison Transmission (NYSE:ALSN) last announced its earnings results on Tuesday, October 29th. The auto parts company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.26. The business had revenue of $824.00 million for the quarter, compared to the consensus estimate of $790.08 million. Allison Transmission had a net margin of 22.66% and a return on equity of 51.13%. Allison Transmission’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $1.76 earnings per share. Sell-side analysts forecast that Allison Transmission Holdings, Inc. will post 8.21 earnings per share for the current fiscal year.

Allison Transmission Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Monday, November 18th. Allison Transmission’s dividend payout ratio (DPR) is presently 12.18%.

Insiders Place Their Bets

In other news, VP Thomas Eifert sold 1,741 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $100.00, for a total value of $174,100.00. Following the transaction, the vice president now owns 9,601 shares in the company, valued at approximately $960,100. This trade represents a 15.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Graziosi sold 11,590 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $119.44, for a total transaction of $1,384,309.60. Following the completion of the transaction, the chief executive officer now owns 168,833 shares in the company, valued at $20,165,413.52. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,380 shares of company stock valued at $2,830,837. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALSN. Oppenheimer raised their price objective on shares of Allison Transmission from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup raised their price objective on shares of Allison Transmission from $125.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Bank of America raised their price objective on shares of Allison Transmission from $67.00 to $77.00 and gave the company an “underperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Allison Transmission from $80.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Finally, StockNews.com upgraded shares of Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $96.38.

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.