Williams Jones Wealth Management LLC. Raises Stock Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Williams Jones Wealth Management LLC. boosted its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 8.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,884 shares of the auto parts company’s stock after buying an additional 550 shares during the period. Williams Jones Wealth Management LLC.’s holdings in Allison Transmission were worth $744,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ALSN. Barclays PLC grew its position in shares of Allison Transmission by 23.4% during the third quarter. Barclays PLC now owns 61,449 shares of the auto parts company’s stock valued at $5,902,000 after purchasing an additional 11,666 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of Allison Transmission during the fourth quarter valued at about $276,000. Merit Financial Group LLC purchased a new position in shares of Allison Transmission during the fourth quarter valued at about $260,000. HB Wealth Management LLC grew its position in shares of Allison Transmission by 5.3% during the fourth quarter. HB Wealth Management LLC now owns 4,772 shares of the auto parts company’s stock valued at $516,000 after purchasing an additional 242 shares in the last quarter. Finally, Aaron Wealth Advisors LLC grew its position in shares of Allison Transmission by 10.1% during the fourth quarter. Aaron Wealth Advisors LLC now owns 2,853 shares of the auto parts company’s stock valued at $308,000 after purchasing an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Insider Buying and Selling at Allison Transmission

In related news, SVP John Coll sold 1,788 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total value of $170,450.04. Following the transaction, the senior vice president now owns 15,388 shares of the company’s stock, valued at $1,466,938.04. This represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ryan A. Milburn sold 4,546 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 directly owns 14,138 shares in the company, valued at approximately $1,360,075.60. This trade represents a 24.33% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Robert W. Baird cut their price objective on Allison Transmission from $123.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target on Allison Transmission from $110.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Morgan Stanley boosted their price objective on Allison Transmission from $94.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. StockNews.com raised Allison Transmission from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Citigroup reduced their price objective on Allison Transmission from $108.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.63.

Allison Transmission Stock Up 0.1%

Shares of NYSE:ALSN opened at $106.24 on Wednesday. Allison Transmission Holdings, Inc. has a 1 year low of $71.49 and a 1 year high of $122.53. The business has a 50 day simple moving average of $94.97 and a two-hundred day simple moving average of $105.54. The firm has a market capitalization of $8.95 billion, a PE ratio of 12.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42.

Allison Transmission (NYSE:ALSN) last announced its earnings results on Thursday, May 1st. The auto parts company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.26. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. The business had revenue of $766.00 million during the quarter, compared to analyst estimates of $792.18 million. During the same quarter in the previous year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the auto parts company to buy up to 57.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Allison Transmission Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, May 19th. This represents a $1.08 annualized dividend and a dividend yield of 1.02%. Allison Transmission’s dividend payout ratio (DPR) is presently 12.50%.

Allison Transmission 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.