Cannon Global Investment Management LLC Sells 9,585 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Cannon Global Investment Management LLC reduced its position in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 61.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,100 shares of the auto parts company’s stock after selling 9,585 shares during the period. Allison Transmission makes up about 1.4% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 22nd largest position. Cannon Global Investment Management LLC’s holdings in Allison Transmission were worth $659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ALSN. SRH Advisors LLC bought a new stake in Allison Transmission during the fourth quarter valued at approximately $26,000. World Investment Advisors LLC bought a new position in Allison Transmission in the 3rd quarter worth approximately $29,000. Kestra Investment Management LLC purchased a new position in Allison Transmission during the fourth quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Allison Transmission in the fourth quarter worth about $31,000. Finally, Quarry LP boosted its position in shares of Allison Transmission by 46.7% during the 3rd quarter. Quarry LP now owns 358 shares of the auto parts company’s stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors.

Allison Transmission Stock Down 2.6 %

ALSN stock opened at $96.38 on Monday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.42 and a current ratio of 3.04. Allison Transmission Holdings, Inc. has a one year low of $71.49 and a one year high of $122.53. The stock has a market capitalization of $8.24 billion, a PE ratio of 11.60 and a beta of 1.02. The company has a fifty day moving average of $106.89 and a 200-day moving average of $106.02.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings data 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%. As a group, analysts expect that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

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

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.27 per share. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 3rd. This represents a $1.08 annualized dividend and a yield of 1.12%. Allison Transmission’s dividend payout ratio is 13.00%.

Insider Activity at Allison Transmission

In other Allison Transmission news, VP Ryan A. Milburn sold 4,546 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $96.20, for a total value of $437,325.20. Following the transaction, the vice president now owns 14,138 shares in the company, valued at $1,360,075.60. The trade was a 24.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John Coll sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $108.40, for a total value of $216,800.00. Following the transaction, the senior vice president now directly owns 6,420 shares in the company, valued at approximately $695,928. This represents a 23.75 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALSN. The Goldman Sachs Group upped their price objective on Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. cut their price objective on shares of Allison Transmission from $129.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Morgan Stanley increased their price target on Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Citigroup reduced their target price on Allison Transmission from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Finally, StockNews.com cut shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $102.00.

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.