Comerica Bank cut its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 63.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,847 shares of the auto parts company’s stock after selling 132,162 shares during the quarter. Comerica Bank owned 0.07% of Allison Transmission worth $3,365,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. KLCM Advisors Inc. purchased a new position in shares of Allison Transmission during the first quarter worth approximately $6,544,000. Carlson Capital L P raised its stake in shares of Allison Transmission by 55.4% during the fourth quarter. Carlson Capital L P now owns 670,160 shares of the auto parts company’s stock worth $28,904,000 after acquiring an additional 238,832 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Allison Transmission by 7.8% during the fourth quarter. California Public Employees Retirement System now owns 284,260 shares of the auto parts company’s stock worth $12,260,000 after acquiring an additional 20,505 shares in the last quarter. Prairiewood Capital LLC purchased a new position in shares of Allison Transmission during the fourth quarter worth approximately $768,000. Finally, Victory Capital Management Inc. raised its stake in shares of Allison Transmission by 90.8% during the fourth quarter. Victory Capital Management Inc. now owns 803,926 shares of the auto parts company’s stock worth $34,673,000 after acquiring an additional 382,508 shares in the last quarter. 98.04% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on ALSN. Vertical Research began coverage on shares of Allison Transmission in a research note on Wednesday, January 20th. They issued a “hold” rating and a $44.00 target price on the stock. Morgan Stanley lifted their target price on shares of Allison Transmission from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, May 10th. TheStreet downgraded shares of Allison Transmission from a “b” rating to a “c+” rating in a research note on Wednesday, February 17th. Zacks Investment Research raised shares of Allison Transmission from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Wednesday, May 5th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of Allison Transmission from $44.00 to $46.00 in a research note on Tuesday, March 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.88.
Allison Transmission (NYSE:ALSN) last released its quarterly earnings results on Tuesday, April 27th. The auto parts company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.17. The business had revenue of $588.00 million for the quarter, compared to analysts’ expectations of $587.48 million. Allison Transmission had a net margin of 16.00% and a return on equity of 46.60%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 earnings per share. On average, analysts expect that Allison Transmission Holdings, Inc. will post 2.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Stockholders of record on Monday, May 17th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Friday, May 14th. Allison Transmission’s dividend payout ratio (DPR) is presently 15.64%.
About Allison Transmission
Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers transmissions for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school and transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.
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