Allison Transmission Holdings Inc (ALSN) Position Trimmed by Gabelli Funds LLC
Gabelli Funds LLC decreased its holdings in shares of Allison Transmission Holdings Inc (NYSE:ALSN) by 15.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,600 shares of the auto parts company’s stock after selling 2,000 shares during the quarter. Gabelli Funds LLC’s holdings in Allison Transmission were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in the stock. Alps Advisors Inc. boosted its stake in Allison Transmission by 9.0% during the 2nd quarter. Alps Advisors Inc. now owns 13,592 shares of the auto parts company’s stock valued at $585,000 after purchasing an additional 1,123 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Allison Transmission by 12.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 10,795 shares of the auto parts company’s stock valued at $561,000 after acquiring an additional 1,168 shares in the last quarter. Colony Group LLC raised its holdings in Allison Transmission by 1.5% in the 2nd quarter. Colony Group LLC now owns 87,687 shares of the auto parts company’s stock valued at $3,550,000 after acquiring an additional 1,328 shares in the last quarter. Amalgamated Bank raised its holdings in Allison Transmission by 6.1% in the 2nd quarter. Amalgamated Bank now owns 28,237 shares of the auto parts company’s stock valued at $1,143,000 after acquiring an additional 1,629 shares in the last quarter. Finally, AMI Investment Management Inc. raised its holdings in Allison Transmission by 1.5% in the 2nd quarter. AMI Investment Management Inc. now owns 121,555 shares of the auto parts company’s stock valued at $4,922,000 after acquiring an additional 1,780 shares in the last quarter.
In other news, CEO David S. Graziosi sold 5,000 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $48.52, for a total value of $242,600.00. Following the completion of the transaction, the chief executive officer now directly owns 196,921 shares of the company’s stock, valued at approximately $9,554,606.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lawrence E. Dewey sold 262,795 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $51.61, for a total value of $13,562,849.95. Following the completion of the transaction, the director now directly owns 479,870 shares of the company’s stock, valued at $24,766,090.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 388,664 shares of company stock valued at $20,046,606. 8.40% of the stock is currently owned by insiders.
Allison Transmission (NYSE:ALSN) last issued its earnings results on Monday, October 29th. The auto parts company reported $1.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.17. Allison Transmission had a return on equity of 90.71% and a net margin of 26.64%. The business had revenue of $692.00 million during the quarter, compared to analysts’ expectations of $656.52 million. During the same period in the prior year, the firm posted $0.75 EPS. Allison Transmission’s quarterly revenue was up 16.3% compared to the same quarter last year. As a group, equities research analysts expect that Allison Transmission Holdings Inc will post 4.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Monday, November 19th will be issued a $0.15 dividend. The ex-dividend date is Friday, November 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.27%. Allison Transmission’s payout ratio is presently 22.56%.
Several equities analysts have commented on the company. Citigroup cut their price target on Allison Transmission from $55.00 to $53.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Mizuho set a $55.00 price target on Allison Transmission and gave the company a “buy” rating in a report on Wednesday, October 31st. Oppenheimer set a $50.00 price target on Allison Transmission and gave the company a “buy” rating in a report on Monday, October 29th. ValuEngine cut Allison Transmission from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Buckingham Research set a $50.00 price target on Allison Transmission and gave the company a “hold” rating in a report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $47.82.
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Allison Transmission Profile
Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers 13 transmission product lines with approximately 100 product models for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school, transit, and hybrid-transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.
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