Bank of New York Mellon Corp Has $34.24 Million Stock Holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Bank of New York Mellon Corp grew its position in Allison Transmission Holdings, Inc. (NYSE:ALSN – Get Rating) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,014,052 shares of the auto parts company’s stock after purchasing an additional 26,794 shares during the quarter. Bank of New York Mellon Corp’s holdings in Allison Transmission were worth $34,235,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bayesian Capital Management LP bought a new position in Allison Transmission in the 3rd quarter worth $476,000. BlackRock Inc. grew its position in shares of Allison Transmission by 2.5% in the third quarter. BlackRock Inc. now owns 3,928,534 shares of the auto parts company’s stock valued at $132,630,000 after purchasing an additional 94,702 shares during the last quarter. Capital Fund Management S.A. bought a new position in shares of Allison Transmission in the third quarter worth about $791,000. Carlson Capital L P lifted its position in shares of Allison Transmission by 44.0% during the 3rd quarter. Carlson Capital L P now owns 261,316 shares of the auto parts company’s stock worth $8,822,000 after purchasing an additional 79,800 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in Allison Transmission by 14.7% during the 3rd quarter. Royal Bank of Canada now owns 63,486 shares of the auto parts company’s stock valued at $2,143,000 after purchasing an additional 8,143 shares during the period. 99.89% of the stock is currently owned by institutional investors and hedge funds.

Allison Transmission Trading Down 4.0 %

Shares of ALSN stock opened at $43.92 on Tuesday. The firm has a fifty day moving average of $45.35 and a 200-day moving average of $41.61. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 1.08 and a beta of 0.99. Allison Transmission Holdings, Inc. has a 52-week low of $32.63 and a 52-week high of $50.64. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.34 and a current ratio of 1.80.

Allison Transmission (NYSE:ALSN – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The auto parts company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.31. The firm had revenue of $718.00 million during the quarter, compared to analyst estimates of $676.21 million. Allison Transmission had a net margin of 19.18% and a return on equity of 69.32%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 earnings per share. On average, equities research analysts forecast that Allison Transmission Holdings, Inc. will post 6.03 earnings per share for the current fiscal year.

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Monday, March 6th will be paid a $0.23 dividend. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $0.92 annualized dividend and a yield of 2.09%. Allison Transmission’s payout ratio is currently 16.64%.

Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, CEO David S. Graziosi sold 16,954 shares of Allison Transmission stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $48.20, for a total transaction of $817,182.80. Following the completion of the transaction, the chief executive officer now directly owns 176,392 shares of the company’s stock, valued at $8,502,094.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO David S. Graziosi sold 16,954 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $48.20, for a total transaction of $817,182.80. Following the completion of the sale, the chief executive officer now owns 176,392 shares of the company’s stock, valued at $8,502,094.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Eric C. Scroggins sold 4,545 shares of Allison Transmission stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $44.00, for a total transaction of $199,980.00. Following the completion of the transaction, the vice president now owns 12,262 shares of the company’s stock, valued at approximately $539,528. The disclosure for this sale can be found here. Insiders have sold 48,656 shares of company stock worth $2,308,269 over the last three months. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ALSN. The Goldman Sachs Group lifted their price target on Allison Transmission from $33.00 to $37.00 and gave the stock a “sell” rating in a research report on Friday, February 17th. Citigroup upped their target price on shares of Allison Transmission from $44.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 21st. Morgan Stanley raised their price target on shares of Allison Transmission from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 21st. Robert W. Baird upped their price objective on shares of Allison Transmission from $48.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, February 16th. Finally, StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 24th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.00.

Allison Transmission Company Profile

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Allison Transmission Holdings, Inc engages in the design and manufacture of vehicle propulsion solutions for commercial and defense vehicles. The company also manufactures medium and heavy duty fully automatic transmissions and electrified propulsion systems. Its products are used in a variety of applications, including on-highway trucks, buses, motorhomes, off-highway vehicles and equipment, and defense vehicles.