Farther Finance Advisors LLC Reduces Stake in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Farther Finance Advisors LLC cut its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 31.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,596 shares of the auto parts company’s stock after selling 1,669 shares during the period. Farther Finance Advisors LLC’s holdings in Allison Transmission were worth $389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ALSN. Smith Group Asset Management LLC purchased a new stake in Allison Transmission during the 4th quarter valued at $2,161,000. Allspring Global Investments Holdings LLC grew its holdings in Allison Transmission by 18.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company’s stock valued at $31,643,000 after purchasing an additional 46,435 shares during the last quarter. Glenmede Trust Co. NA raised its position in Allison Transmission by 4.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 97,150 shares of the auto parts company’s stock worth $9,333,000 after purchasing an additional 4,261 shares during the period. Convergence Investment Partners LLC lifted its stake in Allison Transmission by 115.6% in 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 during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Allison Transmission by 46.8% during the third quarter. Franklin Resources Inc. now owns 250,050 shares of the auto parts company’s stock valued at $24,955,000 after buying an additional 79,745 shares during the period. 96.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP John Coll sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total transaction of $216,800.00. Following the completion of the transaction, the senior vice president now owns 6,420 shares in the company, valued at $695,928. The trade was a 23.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Allison Transmission Price Performance

Shares of ALSN opened at $97.30 on Tuesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.42 and a current ratio of 3.04. The company has a 50 day moving average price of $107.84 and a 200-day moving average price of $105.82. Allison Transmission Holdings, Inc. has a fifty-two week low of $71.49 and a fifty-two week high of $122.53. The stock has a market capitalization of $8.32 billion, a PE ratio of 11.71 and a beta of 1.02.

Allison Transmission (NYSE:ALSN) last posted its earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. Equities analysts predict that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission declared that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that allows the company to buyback $5.00 billion in outstanding 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 typically an indication that the company’s management believes its stock is undervalued.

Allison Transmission Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, March 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.11%. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. Allison Transmission’s dividend payout ratio (DPR) is presently 13.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ALSN shares. Citigroup reduced their price target on Allison Transmission from $120.00 to $115.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. The Goldman Sachs Group increased their target price 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 price target on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Finally, StockNews.com downgraded shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $100.75.

About Allison Transmission

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.