Tidal Investments LLC Trims Stock Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Tidal Investments LLC cut its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 13.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,065 shares of the auto parts company’s stock after selling 1,065 shares during the period. Tidal Investments LLC’s holdings in Allison Transmission were worth $763,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALSN. Loomis Sayles & Co. L P boosted its stake in shares of Allison Transmission by 301.1% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,378,731 shares of the auto parts company’s stock valued at $257,046,000 after purchasing an additional 1,785,687 shares in the last quarter. Norges Bank acquired a new stake in shares of Allison Transmission during the fourth quarter worth $108,916,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Allison Transmission by 4,877.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 444,518 shares of the auto parts company’s stock worth $48,035,000 after buying an additional 435,587 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Allison Transmission during the fourth quarter worth $41,081,000. Finally, FMR LLC lifted its stake in shares of Allison Transmission by 1.9% during the fourth quarter. FMR LLC now owns 12,993,015 shares of the auto parts company’s stock worth $1,404,025,000 after buying an additional 247,318 shares during the period. 96.90% of the stock is currently owned by institutional investors.

Allison Transmission Stock Down 1.1%

Shares of NYSE:ALSN opened at $102.38 on Tuesday. The stock has a market cap of $8.63 billion, a P/E ratio of 12.32 and a beta of 0.97. The firm has a fifty day moving average price of $95.41 and a 200 day moving average price of $105.17. 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.

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

Allison Transmission Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Monday, May 19th. Allison Transmission’s payout ratio is currently 12.50%.

Allison Transmission declared that its board has authorized a share repurchase plan on Thursday, February 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the auto parts company to reacquire up to 57.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

ALSN has been the subject of several recent research reports. Robert W. Baird reduced their target price on shares of Allison Transmission from $123.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price objective on shares of Allison Transmission from $110.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Morgan Stanley boosted their target price on shares of Allison Transmission from $94.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Wall Street Zen raised shares of Allison Transmission from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Citigroup cut their target price on shares of Allison Transmission from $108.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Allison Transmission presently has a consensus rating of “Hold” and a consensus price target of $98.63.

Insiders Place Their Bets

In other news, VP Ryan A. Milburn sold 3,412 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $105.24, for a total value of $359,078.88. Following the completion of the transaction, the vice president now owns 11,924 shares of the company’s stock, valued at $1,254,881.76. The trade was a 22.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John Coll sold 1,788 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $95.33, for a total transaction of $170,450.04. Following the completion of the transaction, the senior vice president now directly owns 15,388 shares of the company’s stock, valued at approximately $1,466,938.04. This represents a 10.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,746 shares of company stock worth $966,854. Insiders own 1.10% of the company’s stock.

Allison Transmission Company Profile

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.