Freestone Capital Holdings LLC Sells 839 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Freestone Capital Holdings LLC lessened its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,048 shares of the auto parts company’s stock after selling 839 shares during the period. Freestone Capital Holdings LLC’s holdings in Allison Transmission were worth $762,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Smith Group Asset Management LLC purchased a new stake in Allison Transmission during the fourth quarter worth about $2,161,000. Allspring Global Investments Holdings LLC increased its holdings in Allison Transmission by 18.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company’s stock worth $31,643,000 after buying an additional 46,435 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in Allison Transmission by 4.6% during the third quarter. Glenmede Trust Co. NA now owns 97,150 shares of the auto parts company’s stock worth $9,333,000 after buying an additional 4,261 shares during the last quarter. Convergence Investment Partners LLC increased its holdings in Allison Transmission by 115.6% during the fourth quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company’s stock worth $1,507,000 after buying an additional 7,479 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in Allison Transmission during the third quarter worth about $947,000. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Allison Transmission Stock Performance

Allison Transmission stock opened at $95.88 on Friday. The firm’s 50 day simple moving average is $109.54 and its 200 day simple moving average is $105.22. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $8.20 billion, a PE ratio of 11.54 and a beta of 1.00. 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 posted its earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. As a group, analysts expect that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission declared that its board has approved a share buyback program on Thursday, February 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the auto parts company to buy up to 57.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Allison Transmission Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Monday, March 3rd. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. Allison Transmission’s dividend payout ratio is 13.00%.

Insider Buying and Selling

In other Allison Transmission news, SVP John Coll sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the completion of the transaction, the senior vice president now owns 6,420 shares of the company’s stock, valued at $695,928. The trade was a 23.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ALSN shares. The Goldman Sachs Group raised their price objective on shares of Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 12th. StockNews.com downgraded shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 13th. Citigroup reduced their target price on shares of Allison Transmission from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Finally, Morgan Stanley lifted their target price on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $100.75.

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.