Vestcor Inc Sells 948 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Vestcor Inc lessened its position in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 10.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,802 shares of the auto parts company’s stock after selling 948 shares during the quarter. Vestcor Inc’s holdings in Allison Transmission were worth $843,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in Allison Transmission in the 3rd quarter valued at $560,000. Victory Capital Management Inc. grew its holdings in shares of Allison Transmission by 86.7% in the third quarter. Victory Capital Management Inc. now owns 245,148 shares of the auto parts company’s stock worth $23,551,000 after purchasing an additional 113,868 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Allison Transmission by 133.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,917 shares of the auto parts company’s stock worth $1,337,000 after buying an additional 7,944 shares during the period. KBC Group NV increased its stake in Allison Transmission by 15.0% in the 3rd quarter. KBC Group NV now owns 2,221 shares of the auto parts company’s stock worth $213,000 after buying an additional 290 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in Allison Transmission in the 3rd quarter valued at about $244,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Allison Transmission Stock Up 2.7 %

Allison Transmission stock opened at $96.12 on Friday. Allison Transmission Holdings, Inc. has a 1-year low of $71.49 and a 1-year high of $122.53. The business has a fifty day moving average price of $108.09 and a 200-day moving average price of $105.67. 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 stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 11.57 and a beta of 1.02.

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

Allison Transmission Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.12%. This is a boost 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 presently 13.00%.

Allison Transmission declared that its board has approved a stock buyback plan on Thursday, February 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the auto parts company to purchase up to 57.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

ALSN has been the subject of several research analyst reports. StockNews.com downgraded shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley raised their price objective on Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Citigroup lowered their target price on Allison Transmission from $120.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group lifted their price objective on Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.75.

Insider Activity

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

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.