AGF Management Ltd. Sells 12,228 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

AGF Management Ltd. cut its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 35.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 22,228 shares of the auto parts company’s stock after selling 12,228 shares during the quarter. AGF Management Ltd.’s holdings in Allison Transmission were worth $2,402,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Allison Transmission by 24.3% in the 3rd quarter. FMR LLC now owns 12,745,697 shares of the auto parts company’s stock valued at $1,224,479,000 after buying an additional 2,493,310 shares during the last quarter. Geode Capital Management LLC raised its position in Allison Transmission by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,961,834 shares of the auto parts company’s stock worth $188,511,000 after acquiring an additional 79,506 shares in the last quarter. State Street Corp lifted its stake in Allison Transmission by 0.8% in the third quarter. State Street Corp now owns 1,682,076 shares of the auto parts company’s stock valued at $161,597,000 after acquiring an additional 13,252 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Allison Transmission by 7.0% in the 4th quarter. Allianz Asset Management GmbH now owns 1,061,351 shares of the auto parts company’s stock valued at $114,690,000 after acquiring an additional 69,008 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Allison Transmission by 34.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 914,918 shares of the auto parts company’s stock worth $87,896,000 after purchasing an additional 233,214 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors.

Allison Transmission Price Performance

Shares of Allison Transmission stock opened at $93.43 on Friday. The company has a 50-day simple moving average of $108.35 and a two-hundred day simple moving average of $105.52. Allison Transmission Holdings, Inc. has a twelve month low of $71.49 and a twelve month high of $122.53. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 11.24 and a beta of 1.02. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45.

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

Allison Transmission declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the auto parts company to buy up to 57.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a $0.27 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from Allison Transmission’s previous quarterly dividend of $0.25. Allison Transmission’s dividend payout ratio (DPR) is presently 13.00%.

Insider Activity at Allison Transmission

In related news, SVP John Coll sold 2,000 shares of Allison Transmission stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the transaction, the senior vice president now directly owns 6,420 shares of the company’s stock, valued at $695,928. This trade represents a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ALSN shares. The Goldman Sachs Group upped their price objective on Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 12th. StockNews.com downgraded Allison Transmission from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 13th. Citigroup decreased their price objective on shares of Allison Transmission from $120.00 to $115.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Finally, Morgan Stanley raised 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $100.75.

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.