Meeder Asset Management Inc. reduced its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) by 52.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,197 shares of the auto parts company’s stock after selling 4,621 shares during the quarter. Meeder Asset Management Inc.’s holdings in Allison Transmission were worth $491,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in ALSN. Caprock Group LLC boosted its holdings in Allison Transmission by 191.5% in the fourth quarter. Caprock Group LLC now owns 26,051 shares of the auto parts company’s stock valued at $2,550,000 after purchasing an additional 17,114 shares in the last quarter. UBS Group AG raised its holdings in Allison Transmission by 30.4% during the fourth quarter. UBS Group AG now owns 1,252,197 shares of the auto parts company’s stock worth $122,590,000 after purchasing an additional 291,649 shares in the last quarter. Natixis Advisors LLC raised its holdings in Allison Transmission by 5.3% during the fourth quarter. Natixis Advisors LLC now owns 285,022 shares of the auto parts company’s stock worth $27,903,000 after purchasing an additional 14,445 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Allison Transmission by 109.9% during the 4th quarter. SG Americas Securities LLC now owns 17,014 shares of the auto parts company’s stock worth $1,666,000 after buying an additional 8,910 shares during the last quarter. Finally, Systematic Financial Management LP lifted its position in shares of Allison Transmission by 52.2% during the 4th quarter. Systematic Financial Management LP now owns 29,585 shares of the auto parts company’s stock worth $2,896,000 after buying an additional 10,145 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.
Allison Transmission Stock Performance
Shares of ALSN opened at $116.09 on Wednesday. The company’s 50 day simple moving average is $115.80 and its 200-day simple moving average is $116.87. The firm has a market cap of $9.63 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95. Allison Transmission Holdings, Inc. has a 12-month low of $76.01 and a 12-month high of $137.62. The company has a current ratio of 1.85, a quick ratio of 1.18 and a debt-to-equity ratio of 2.23.
Allison Transmission Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Allison Transmission’s dividend payout ratio is presently 18.04%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on ALSN. Citigroup dropped their target price on shares of Allison Transmission from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Zacks Research cut shares of Allison Transmission from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Morgan Stanley upped their price objective on shares of Allison Transmission from $126.00 to $130.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Wells Fargo & Company raised their price objective on Allison Transmission from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings cut Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $131.17.
Check Out Our Latest Stock Analysis on ALSN
Insider Activity at Allison Transmission
In other news, CFO Scott A. Mell sold 2,270 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.00, for a total transaction of $283,750.00. Following the completion of the sale, the chief financial officer owned 1,053 shares in the company, valued at approximately $131,625. This represents a 68.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.
About Allison Transmission
Allison Transmission Holdings Inc is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company’s products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison’s core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.
In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.
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