California Public Employees Retirement System Cuts Stock Holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN)

California Public Employees Retirement System reduced its position in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 183,210 shares of the auto parts company’s stock after selling 4,753 shares during the period. California Public Employees Retirement System owned about 0.21% of Allison Transmission worth $19,798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALSN. BNP Paribas Financial Markets raised its stake in shares of Allison Transmission by 30.0% in the third quarter. BNP Paribas Financial Markets now owns 34,958 shares of the auto parts company’s stock worth $3,358,000 after purchasing an additional 8,072 shares during the last quarter. Townsquare Capital LLC purchased a new position in Allison Transmission in the 3rd quarter worth about $317,000. Hilltop Holdings Inc. bought a new position in Allison Transmission during the 3rd quarter valued at about $288,000. HighTower Advisors LLC purchased a new stake in shares of Allison Transmission during the 3rd quarter valued at about $270,000. Finally, Janus Henderson Group PLC grew its stake in shares of Allison Transmission by 19.3% in the third quarter. Janus Henderson Group PLC now owns 73,648 shares of the auto parts company’s stock worth $7,075,000 after acquiring an additional 11,931 shares during the period. 96.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on ALSN shares. Citigroup dropped their target price on shares of Allison Transmission from $115.00 to $108.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. The Goldman Sachs Group lifted their price objective on Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 12th. Morgan Stanley upped their price objective on Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. StockNews.com downgraded Allison Transmission from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. lowered their price objective 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. Two 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.13.

Allison Transmission Trading Down 4.9 %

Shares of NYSE:ALSN opened at $86.01 on Friday. Allison Transmission Holdings, Inc. has a 12-month low of $71.49 and a 12-month high of $122.53. The company has a market cap of $7.33 billion, a PE ratio of 10.35 and a beta of 0.95. The stock has a 50 day moving average of $102.54 and a 200 day moving average of $106.41. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45.

Allison Transmission (NYSE:ALSN) last posted 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%. As a group, equities research analysts expect that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.26%. 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 presently 13.00%.

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

Insider Transactions at Allison Transmission

In other Allison Transmission news, SVP John Coll sold 1,788 shares of Allison Transmission 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 in the company, valued at approximately $1,466,938.04. The trade was a 10.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Ryan A. Milburn sold 4,546 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $96.20, for a total transaction of $437,325.20. Following the transaction, the vice president now directly 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 disclosure for this sale can be found here. Corporate 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.