Oppenheimer Asset Management Inc. Trims Holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Oppenheimer Asset Management Inc. lowered its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 6.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,579 shares of the auto parts company’s stock after selling 986 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Allison Transmission were worth $1,467,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Smith Group Asset Management LLC purchased a new position in shares of Allison Transmission during the 4th quarter valued at $2,161,000. Allspring Global Investments Holdings LLC lifted its position in shares of Allison Transmission by 18.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company’s stock valued at $31,643,000 after acquiring an additional 46,435 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Allison Transmission by 4.6% in the third quarter. Glenmede Trust Co. NA now owns 97,150 shares of the auto parts company’s stock worth $9,333,000 after acquiring an additional 4,261 shares during the period. Convergence Investment Partners LLC grew its position in shares of Allison Transmission by 115.6% during the fourth quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company’s stock worth $1,507,000 after purchasing an additional 7,479 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in Allison Transmission during the 3rd quarter valued at approximately $947,000. 96.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP John Coll sold 2,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the sale, the senior vice president now directly owns 6,420 shares of the company’s stock, valued at $695,928. This represents a 23.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Allison Transmission Price Performance

ALSN stock opened at $98.42 on Tuesday. Allison Transmission Holdings, Inc. has a 52 week low of $71.49 and a 52 week high of $122.53. The firm has a market capitalization of $8.42 billion, a P/E ratio of 11.84 and a beta of 1.00. The company has a fifty day simple moving average of $110.30 and a two-hundred day simple moving average of $105.27. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, beating 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%. Analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission announced that its Board of Directors has initiated a share buyback program on Thursday, February 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the auto parts company to repurchase up to 57.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Allison Transmission Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.10%. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. Allison Transmission’s payout ratio is currently 13.00%.

Analyst Ratings Changes

ALSN has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price target on Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 12th. Morgan Stanley upped their target price on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Citigroup reduced their price target on shares of Allison Transmission from $120.00 to $115.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Finally, StockNews.com downgraded shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $100.75.

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.