Comerica Bank Decreases Stake in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Comerica Bank reduced its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSNGet Rating) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,737 shares of the auto parts company’s stock after selling 551 shares during the period. Comerica Bank’s holdings in Allison Transmission were worth $1,565,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. FinTrust Capital Advisors LLC increased its holdings in shares of Allison Transmission by 88.9% in the second quarter. FinTrust Capital Advisors LLC now owns 665 shares of the auto parts company’s stock valued at $26,000 after purchasing an additional 313 shares during the period. Wipfli Financial Advisors LLC purchased a new position in Allison Transmission during the 3rd quarter worth approximately $39,000. Canada Pension Plan Investment Board increased its stake in shares of Allison Transmission by 157.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the auto parts company’s stock worth $51,000 after acquiring an additional 795 shares during the period. Platinum Investment Management Ltd. acquired a new stake in shares of Allison Transmission in the second quarter worth $89,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Allison Transmission in the second quarter worth $114,000. 99.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALSN. StockNews.com assumed coverage on Allison Transmission in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Citigroup raised their price objective on shares of Allison Transmission to $44.00 in a research note on Tuesday, November 1st. The Goldman Sachs Group lowered their price target on shares of Allison Transmission from $37.00 to $32.00 and set a “sell” rating on the stock in a report on Friday, October 14th. Credit Suisse Group upped their price objective on shares of Allison Transmission from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, October 28th. Finally, Morgan Stanley lifted their price target on Allison Transmission from $33.00 to $36.00 and gave the company an “underweight” rating in a research note on Wednesday, December 14th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $40.00.

Insider Buying and Selling at Allison Transmission

In other news, VP Eric C. Scroggins sold 4,761 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $43.35, for a total transaction of $206,389.35. Following the transaction, the vice president now owns 16,807 shares of the company’s stock, valued at approximately $728,583.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Allison Transmission Stock Performance

NYSE ALSN opened at $41.63 on Friday. The stock’s 50 day simple moving average is $42.94 and its 200-day simple moving average is $39.62. Allison Transmission Holdings, Inc. has a 1-year low of $32.63 and a 1-year high of $45.33. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.72 and a quick ratio of 1.26. The company has a market cap of $3.85 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.01.

Allison Transmission (NYSE:ALSNGet Rating) last released its earnings results on Wednesday, October 26th. The auto parts company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.14. The business had revenue of $710.00 million during the quarter, compared to analyst estimates of $681.87 million. Allison Transmission had a net margin of 18.85% and a return on equity of 71.96%. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, equities research analysts anticipate that Allison Transmission Holdings, Inc. will post 5.21 EPS for the current fiscal year.

Allison Transmission Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Monday, November 21st were issued a $0.21 dividend. The ex-dividend date was Friday, November 18th. This represents a $0.84 annualized dividend and a dividend yield of 2.02%. Allison Transmission’s dividend payout ratio is presently 16.28%.

Allison Transmission Profile

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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 transmissions for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school and transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.

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Institutional Ownership by Quarter for Allison Transmission (NYSE:ALSN)

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