Arrowstreet Capital Limited Partnership Increases Stock Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Arrowstreet Capital Limited Partnership lifted its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 656,336 shares of the auto parts company’s stock after purchasing an additional 14,038 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Allison Transmission were worth $70,924,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. lifted its position in shares of Allison Transmission by 4.2% during the 3rd quarter. Citigroup Inc. now owns 43,114 shares of the auto parts company’s stock worth $4,142,000 after buying an additional 1,733 shares in the last quarter. Bank of Montreal Can increased its position in shares of Allison Transmission by 6.3% during the third quarter. Bank of Montreal Can now owns 79,358 shares of the auto parts company’s stock valued at $7,658,000 after acquiring an additional 4,690 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Allison Transmission by 30.0% during the third quarter. BNP Paribas Financial Markets now owns 34,958 shares of the auto parts company’s stock worth $3,358,000 after acquiring an additional 8,072 shares during the period. Townsquare Capital LLC bought a new position in Allison Transmission in the 3rd quarter valued at $317,000. Finally, Captrust Financial Advisors grew its stake in Allison Transmission by 24.1% in the 3rd quarter. Captrust Financial Advisors now owns 31,499 shares of the auto parts company’s stock valued at $3,026,000 after purchasing an additional 6,113 shares during the period. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Allison Transmission Stock Performance

Shares of ALSN opened at $95.69 on Tuesday. Allison Transmission Holdings, Inc. has a 52-week low of $71.49 and a 52-week high of $122.53. The stock’s 50-day simple moving average is $104.69 and its 200 day simple moving average is $106.52. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.42 and a current ratio of 3.04. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 11.51 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 analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. Research analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

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

Allison Transmission Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Monday, March 3rd. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. Allison Transmission’s dividend payout ratio (DPR) is 13.00%.

Insider Activity at Allison Transmission

In other Allison Transmission news, 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 value of $437,325.20. Following the sale, the vice president now owns 14,138 shares of the company’s stock, valued at $1,360,075.60. This trade represents a 24.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their target price 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, March 18th. The Goldman Sachs Group lifted their price target on shares of Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 12th. StockNews.com lowered Allison Transmission from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, Citigroup dropped their price target on Allison Transmission from $115.00 to $108.00 and set a “neutral” rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $101.13.

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.