Ingalls & Snyder LLC Reduces Stock Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Ingalls & Snyder LLC trimmed its position in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 44.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,195 shares of the auto parts company’s stock after selling 11,980 shares during the period. Ingalls & Snyder LLC’s holdings in Allison Transmission were worth $1,460,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ALSN. Integrated Wealth Concepts LLC purchased a new position in shares of Allison Transmission during the 3rd quarter worth $329,000. Janus Henderson Group PLC increased its stake in Allison Transmission by 19.3% in the third quarter. Janus Henderson Group PLC now owns 73,648 shares of the auto parts company’s stock valued at $7,075,000 after purchasing an additional 11,931 shares during the last quarter. HighTower Advisors LLC purchased a new position in Allison Transmission during the third quarter worth about $270,000. Hilltop Holdings Inc. acquired a new stake in Allison Transmission in the 3rd quarter worth about $288,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in Allison Transmission in the 3rd quarter valued at about $858,000. 96.90% of the stock is owned by institutional investors and hedge funds.

Allison Transmission Price Performance

Shares of NYSE ALSN opened at $116.98 on Wednesday. The business has a 50 day moving average price of $107.16 and a two-hundred day moving average price of $90.66. Allison Transmission Holdings, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $122.53. The firm has a market cap of $10.13 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.98. The company has a quick ratio of 2.25, a current ratio of 2.83 and a debt-to-equity ratio of 1.48.

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

Allison Transmission Dividend Announcement

The company also recently disclosed 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 yield of 0.85%. The ex-dividend date of this dividend was Monday, November 18th. Allison Transmission’s payout ratio is currently 12.18%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALSN. Citigroup increased their price objective on shares of Allison Transmission from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. The Goldman Sachs Group lifted their price target on shares of Allison Transmission from $72.00 to $82.00 and gave the company a “sell” rating in a report on Friday, November 1st. StockNews.com cut shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research note on Monday. Robert W. Baird increased their target price on Allison Transmission from $103.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on Allison Transmission from $80.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $94.25.

Insiders Place Their Bets

In other Allison Transmission news, CEO David S. Graziosi sold 1,723 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $120.26, for a total transaction of $207,207.98. Following the sale, the chief executive officer now directly owns 168,833 shares of the company’s stock, valued at approximately $20,303,856.58. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.73, for a total transaction of $235,460.00. Following the completion of the transaction, the senior vice president now owns 8,420 shares in the company, valued at approximately $991,286.60. The trade was a 19.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,380 shares of company stock valued at $2,830,837 in the last quarter. Insiders own 0.93% of the company’s stock.

Allison Transmission 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.