Jennison Associates LLC Decreases Stock Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Jennison Associates LLC lessened its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 506,582 shares of the auto parts company’s stock after selling 36,318 shares during the quarter. Jennison Associates LLC owned 0.58% of Allison Transmission worth $54,741,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ALSN. Millennium Management LLC grew its position in shares of Allison Transmission by 15.5% in the 2nd quarter. Millennium Management LLC now owns 55,122 shares of the auto parts company’s stock worth $4,184,000 after acquiring an additional 7,387 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Allison Transmission by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 28,612 shares of the auto parts company’s stock valued at $2,172,000 after purchasing an additional 1,093 shares in the last quarter. Creative Planning raised its position in shares of Allison Transmission by 5.1% during the 2nd quarter. Creative Planning now owns 4,781 shares of the auto parts company’s stock worth $363,000 after buying an additional 230 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Allison Transmission in the third quarter worth approximately $186,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Allison Transmission by 152.6% in the third quarter. GAMMA Investing LLC now owns 1,033 shares of the auto parts company’s stock valued at $99,000 after buying an additional 624 shares during the period. Institutional investors and hedge funds own 96.90% of the company’s stock.

Insiders Place Their Bets

In other news, SVP John Coll sold 2,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $117.73, for a total value of $235,460.00. Following the sale, the senior vice president now owns 8,420 shares of the company’s stock, valued at approximately $991,286.60. This represents a 19.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Graziosi sold 1,723 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was 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. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,639 shares of company stock worth $2,683,537 over the last 90 days. Corporate insiders own 0.93% of the company’s stock.

Allison Transmission Stock Performance

NYSE ALSN opened at $112.89 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.83 and a quick ratio of 2.25. The company’s fifty day moving average is $114.13 and its two-hundred day moving average is $102.18. Allison Transmission Holdings, Inc. has a 52-week low of $60.34 and a 52-week high of $122.53. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 1.86 and a beta of 1.00.

Allison Transmission Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. Allison Transmission’s dividend payout ratio is currently 12.18%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America raised their target price on shares of Allison Transmission from $67.00 to $77.00 and gave the stock an “underperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their price target on shares of Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 12th. StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 26th. Oppenheimer boosted their target price on shares of Allison Transmission from $90.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird raised their price objective on Allison Transmission from $103.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Allison Transmission currently has a consensus rating of “Hold” and an average price target of $101.38.

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.