Cornercap Investment Counsel Inc. Has $427,000 Stock Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Cornercap Investment Counsel Inc. lowered its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 42.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,947 shares of the auto parts company’s stock after selling 2,951 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Allison Transmission were worth $427,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. SRH Advisors LLC bought a new position in Allison Transmission during the fourth quarter worth about $26,000. World Investment Advisors LLC acquired a new stake in shares of Allison Transmission in the third quarter valued at approximately $29,000. Kestra Investment Management LLC bought a new stake in shares of Allison Transmission in the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Allison Transmission during the fourth quarter valued at approximately $31,000. Finally, Quarry LP increased its position in shares of Allison Transmission by 46.7% during the 3rd quarter. Quarry LP now owns 358 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 96.90% of the company’s stock.

Insider Activity at Allison Transmission

In other Allison Transmission news, SVP John Coll sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total transaction of $216,800.00. Following the sale, the senior vice president now owns 6,420 shares of the company’s stock, valued at approximately $695,928. The trade was a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Ryan A. Milburn sold 4,546 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $96.20, for a total value of $437,325.20. Following the completion of the transaction, the vice president now owns 14,138 shares of the company’s stock, valued at $1,360,075.60. The trade was a 24.33 % 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 insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. The Goldman Sachs Group lifted their target price on Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. decreased their price target on shares of Allison Transmission from $129.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. StockNews.com downgraded shares of Allison Transmission from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Citigroup decreased their target price on Allison Transmission from $120.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $102.00.

Allison Transmission Stock Down 3.1 %

ALSN stock opened at $96.01 on Friday. Allison Transmission Holdings, Inc. has a 52 week low of $71.49 and a 52 week high of $122.53. The business has a 50-day simple moving average of $105.16 and a 200 day simple moving average of $106.31. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45. The company has a market cap of $8.21 billion, a PE ratio of 11.55 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 net margin of 22.67% and a return on equity of 47.95%. Sell-side analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission declared that its Board of Directors has initiated a stock buyback program 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 programs are often an indication that the company’s leadership believes its shares are 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 paid a $0.27 dividend. The ex-dividend date was Monday, March 3rd. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.12%. Allison Transmission’s dividend payout ratio (DPR) is 13.00%.

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.