Salem Investment Counselors Inc. Sells 22,999 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Salem Investment Counselors Inc. lessened its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 28.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,642 shares of the auto parts company’s stock after selling 22,999 shares during the quarter. Salem Investment Counselors Inc. owned about 0.07% of Allison Transmission worth $6,121,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. World Investment Advisors LLC bought a new position in shares of Allison Transmission during the third quarter valued at approximately $29,000. Quarry LP raised its stake in Allison Transmission by 46.7% during the 3rd quarter. Quarry LP now owns 358 shares of the auto parts company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Allison Transmission during the 3rd quarter valued at approximately $67,000. Venturi Wealth Management LLC raised its stake in Allison Transmission by 27.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 744 shares of the auto parts company’s stock valued at $71,000 after purchasing an additional 162 shares during the period. Finally, City State Bank bought a new stake in Allison Transmission during the 4th quarter valued at approximately $76,000. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ALSN shares. StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 26th. The Goldman Sachs Group upped their target price on Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 12th. Bank of America upped their price objective on Allison Transmission from $67.00 to $77.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 30th. Oppenheimer upped their price objective on Allison Transmission from $90.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on Allison Transmission from $80.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.63.

Insider Buying and Selling

In other news, SVP John Coll sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.73, for a total transaction of $235,460.00. Following the completion of the sale, the senior vice president now owns 8,420 shares in the company, valued at approximately $991,286.60. The trade was a 19.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Graziosi sold 11,590 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $119.44, for a total transaction of $1,384,309.60. Following the sale, the chief executive officer now owns 168,833 shares of the company’s stock, valued at $20,165,413.52. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,639 shares of company stock worth $2,683,537 over the last 90 days. 1.10% of the stock is owned by insiders.

Allison Transmission Trading Up 1.9 %

Shares of ALSN traded up $2.02 during trading on Monday, reaching $110.95. 233,463 shares of the company traded hands, compared to its average volume of 384,450. Allison Transmission Holdings, Inc. has a twelve month low of $55.81 and a twelve month high of $122.53. The stock has a market cap of $9.61 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 2.03 and a beta of 1.00. The stock has a 50-day simple moving average of $113.80 and a 200-day simple moving average of $97.87. The company has a quick ratio of 2.25, a current ratio of 2.83 and a debt-to-equity ratio of 1.48.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.26. The firm had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $790.08 million. Allison Transmission had a net margin of 22.66% and a return on equity of 51.13%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.76 earnings per share. On average, analysts anticipate that Allison Transmission Holdings, Inc. will post 8.21 earnings per share for the current year.

Allison Transmission Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. Allison Transmission’s dividend payout ratio is currently 12.18%.

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.