Clark Capital Management Group Inc. Trims Stock Position in Allison Transmission Holdings, Inc. $ALSN

Clark Capital Management Group Inc. lessened its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 85.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,669 shares of the auto parts company’s stock after selling 440,284 shares during the period. Clark Capital Management Group Inc. owned 0.09% of Allison Transmission worth $6,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Rossby Financial LCC lifted its holdings in shares of Allison Transmission by 107.0% in the 3rd quarter. Rossby Financial LCC now owns 296 shares of the auto parts company’s stock valued at $25,000 after purchasing an additional 153 shares during the last quarter. Employees Retirement System of Texas purchased a new position in Allison Transmission during the 2nd quarter worth approximately $38,000. True Wealth Design LLC increased its position in Allison Transmission by 93.2% during the third quarter. True Wealth Design LLC now owns 452 shares of the auto parts company’s stock worth $38,000 after buying an additional 218 shares during the period. First Horizon Corp acquired a new position in Allison Transmission during the third quarter worth approximately $40,000. Finally, SJS Investment Consulting Inc. lifted its stake in Allison Transmission by 4,716.7% in the third quarter. SJS Investment Consulting Inc. now owns 578 shares of the auto parts company’s stock valued at $49,000 after buying an additional 566 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Allison Transmission Trading Down 0.2%

NYSE:ALSN opened at $112.84 on Monday. Allison Transmission Holdings, Inc. has a 12-month low of $76.01 and a 12-month high of $128.85. The company has a current ratio of 4.85, a quick ratio of 4.17 and a debt-to-equity ratio of 1.55. The stock’s 50 day simple moving average is $113.71 and its 200-day simple moving average is $97.11. The firm has a market cap of $9.34 billion, a P/E ratio of 15.39, a PEG ratio of 0.74 and a beta of 0.96.

Allison Transmission Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Monday, March 9th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, March 9th. This is an increase from Allison Transmission’s previous quarterly dividend of $0.27. Allison Transmission’s payout ratio is currently 15.83%.

Insider Buying and Selling at Allison Transmission

In other news, insider Eric C. Scroggins sold 1,313 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $114.40, for a total value of $150,207.20. Following the completion of the sale, the insider owned 17,654 shares in the company, valued at approximately $2,019,617.60. This trade represents a 6.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Coll sold 1,791 shares of Allison Transmission stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $98.79, for a total transaction of $176,932.89. Following the completion of the sale, the senior vice president directly owned 10,021 shares in the company, valued at approximately $989,974.59. The trade was a 15.16% decrease in their position. The SEC filing for this sale provides additional information. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Allison Transmission from $97.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Zacks Research upgraded shares of Allison Transmission from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Citigroup increased their price target on shares of Allison Transmission from $110.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Wells Fargo & Company raised their price objective on shares of Allison Transmission from $98.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Allison Transmission from $87.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $111.11.

Allison Transmission Company 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.