Legacy Financial Advisors Inc. Sells 2,968 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Legacy Financial Advisors Inc. decreased its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 41.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,108 shares of the auto parts company’s stock after selling 2,968 shares during the period. Legacy Financial Advisors Inc.’s holdings in Allison Transmission were worth $444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Loomis Sayles & Co. L P increased its position in shares of Allison Transmission by 301.1% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,378,731 shares of the auto parts company’s stock worth $257,046,000 after buying an additional 1,785,687 shares during the period. Norges Bank acquired a new stake in Allison Transmission during the 4th quarter worth about $108,916,000. Raymond James Financial Inc. bought a new position in shares of Allison Transmission in the 4th quarter worth about $41,081,000. FMR LLC lifted its stake in shares of Allison Transmission by 1.9% in the 4th quarter. FMR LLC now owns 12,993,015 shares of the auto parts company’s stock valued at $1,404,025,000 after purchasing an additional 247,318 shares during the period. Finally, Sanctuary Advisors LLC boosted its position in shares of Allison Transmission by 88.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 200,997 shares of the auto parts company’s stock valued at $19,310,000 after purchasing an additional 94,229 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Allison Transmission Trading Down 4.0 %

NYSE:ALSN opened at $88.42 on Friday. Allison Transmission Holdings, Inc. has a one year low of $71.49 and a one year high of $122.53. The company has a market cap of $7.54 billion, a PE ratio of 10.64 and a beta of 0.95. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42. The firm has a 50-day moving average of $99.10 and a 200-day moving average of $106.28.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, topping 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%. As a group, equities research analysts expect that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission declared that its board has authorized a share buyback 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Allison Transmission Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.22%. This is an increase 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 currently 13.00%.

Insider Activity

In other Allison Transmission news, VP Ryan A. Milburn sold 4,546 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total value of $437,325.20. Following the transaction, the vice president now owns 14,138 shares of the company’s stock, valued at approximately $1,360,075.60. The trade was a 24.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Coll sold 1,788 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $95.33, for a total value of $170,450.04. Following the sale, the senior vice president now directly owns 15,388 shares of the company’s stock, valued at approximately $1,466,938.04. This represents a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALSN. JPMorgan Chase & Co. dropped their price target on Allison Transmission from $129.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. The Goldman Sachs Group boosted their target price on shares of Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 12th. Citigroup cut their target price on shares of Allison Transmission from $108.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday. StockNews.com downgraded shares of Allison Transmission from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, Morgan Stanley increased their price objective on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $99.50.

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.