Meritage Portfolio Management Sells 8,813 Shares of Allison Transmission Holdings, Inc. $ALSN

Meritage Portfolio Management trimmed its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 33.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,912 shares of the auto parts company’s stock after selling 8,813 shares during the period. Meritage Portfolio Management’s holdings in Allison Transmission were worth $1,520,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in shares of Allison Transmission by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,915,887 shares of the auto parts company’s stock valued at $181,741,000 after buying an additional 304,974 shares in the last quarter. State Street Corp lifted its position in Allison Transmission by 1.1% during the 2nd quarter. State Street Corp now owns 1,652,290 shares of the auto parts company’s stock worth $156,951,000 after buying an additional 17,783 shares in the last quarter. Federated Hermes Inc. grew its holdings in Allison Transmission by 35.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,544,799 shares of the auto parts company’s stock worth $146,740,000 after acquiring an additional 406,540 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in Allison Transmission by 128.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,215,897 shares of the auto parts company’s stock worth $115,498,000 after acquiring an additional 683,035 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in Allison Transmission by 3.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,081,292 shares of the auto parts company’s stock valued at $102,712,000 after acquiring an additional 33,073 shares in the last quarter. Institutional investors and hedge funds own 96.90% of the company’s stock.

Insider Activity at Allison Transmission

In other news, SVP John Coll sold 1,791 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $98.79, for a total value of $176,932.89. Following the completion of the sale, the senior vice president directly owned 10,021 shares of the company’s stock, valued at $989,974.59. This represents a 15.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Allison Transmission Stock Performance

Shares of Allison Transmission stock opened at $111.56 on Friday. The firm has a fifty day moving average of $94.14 and a two-hundred day moving average of $89.66. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 13.67 and a beta of 0.98. Allison Transmission Holdings, Inc. has a 52 week low of $76.01 and a 52 week high of $121.81. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.06 and a current ratio of 3.82.

Allison Transmission (NYSE:ALSN) last posted its quarterly earnings results on Wednesday, October 29th. The auto parts company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.32). Allison Transmission had a return on equity of 40.46% and a net margin of 22.78%.The company had revenue of $693.00 million during the quarter, compared to the consensus estimate of $779.97 million. During the same quarter in the prior year, the business earned $2.27 earnings per share. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. As a group, equities research analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, November 21st. Allison Transmission’s payout ratio is presently 13.24%.

Analyst Ratings Changes

ALSN has been the topic of a number of research reports. Wells Fargo & Company started coverage on shares of Allison Transmission in a research report on Thursday, November 13th. They set an “equal weight” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on Allison Transmission from $87.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday. Raymond James Financial increased their price objective on Allison Transmission from $110.00 to $115.00 and gave the company a “strong-buy” rating in a research report on Monday, December 22nd. Citigroup boosted their target price on Allison Transmission from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Weiss Ratings lowered Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $99.25.

Allison Transmission Profile

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.