Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 8.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 225,554 shares of the auto parts company’s stock after selling 21,239 shares during the quarter. Nuveen Asset Management LLC’s holdings in Allison Transmission were worth $24,373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of Allison Transmission by 23.4% during the third quarter. Barclays PLC now owns 61,449 shares of the auto parts company’s stock valued at $5,902,000 after acquiring an additional 11,666 shares during the period. Park Avenue Securities LLC acquired a new position in shares of Allison Transmission during the fourth quarter valued at $276,000. Merit Financial Group LLC acquired a new position in shares of Allison Transmission during the fourth quarter valued at $260,000. HB Wealth Management LLC boosted its holdings in shares of Allison Transmission by 5.3% during the fourth quarter. HB Wealth Management LLC now owns 4,772 shares of the auto parts company’s stock valued at $516,000 after acquiring an additional 242 shares during the period. Finally, Atomi Financial Group Inc. acquired a new position in shares of Allison Transmission during the fourth quarter valued at $224,000. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Allison Transmission Stock Performance

ALSN opened at $103.46 on Friday. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 12.45 and a beta of 0.97. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42. Allison Transmission Holdings, Inc. has a 1-year low of $71.49 and a 1-year high of $122.53. The business has a 50 day moving average price of $95.25 and a two-hundred day moving average price of $105.51.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings results on Thursday, May 1st. The auto parts company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.26. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. The company had revenue of $766.00 million during the quarter, compared to the consensus estimate of $792.18 million. During the same period in the prior year, the company earned $1.90 EPS. Allison Transmission’s revenue was down 2.9% on a year-over-year basis. Research analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission announced that its board has approved a share repurchase plan on Thursday, February 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the auto parts company to purchase up to 57.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Allison Transmission Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Monday, May 19th. Allison Transmission’s payout ratio is 12.50%.

Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, VP Ryan A. Milburn sold 4,546 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $96.20, for a total transaction of $437,325.20. Following the completion of the sale, the vice president now directly owns 14,138 shares of the company’s stock, valued at approximately $1,360,075.60. This represents a 24.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Coll sold 1,788 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $95.33, for a total transaction of $170,450.04. Following the sale, the senior vice president now directly owns 15,388 shares of the company’s stock, valued at $1,466,938.04. This represents a 10.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALSN shares. JPMorgan Chase & Co. reduced their price objective on Allison Transmission from $110.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Robert W. Baird reduced their price objective on Allison Transmission from $123.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Raymond James reduced their price objective on Allison Transmission from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Wall Street Zen raised shares of Allison Transmission from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, Citigroup reduced their price objective on shares of Allison Transmission from $108.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Two research 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. Based on data from MarketBeat, Allison Transmission currently has an average rating of “Hold” and an average target price of $98.63.

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.