Jacobs Levy Equity Management Inc. Cuts Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Jacobs Levy Equity Management Inc. cut its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 11.6% in the 1st quarter, Holdings Channel reports. The fund owned 666,189 shares of the auto parts company’s stock after selling 87,122 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Allison Transmission were worth $54,068,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in Allison Transmission by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,863,151 shares of the auto parts company’s stock worth $108,345,000 after acquiring an additional 118,648 shares in the last quarter. Norges Bank bought a new stake in Allison Transmission in the fourth quarter worth $56,334,000. Allianz Asset Management GmbH lifted its stake in Allison Transmission by 7.7% in the fourth quarter. Allianz Asset Management GmbH now owns 941,405 shares of the auto parts company’s stock worth $54,743,000 after purchasing an additional 67,332 shares during the last quarter. Wasatch Advisors LP lifted its stake in Allison Transmission by 14.6% in the fourth quarter. Wasatch Advisors LP now owns 885,555 shares of the auto parts company’s stock worth $51,495,000 after purchasing an additional 112,775 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Allison Transmission by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 682,650 shares of the auto parts company’s stock worth $39,696,000 after purchasing an additional 8,234 shares during the last quarter. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Allison Transmission

In other Allison Transmission news, VP Rafael Basso sold 12,624 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $74.48, for a total value of $940,235.52. Following the sale, the vice president now owns 4,624 shares in the company, valued at $344,395.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP John Coll sold 2,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $75.06, for a total transaction of $150,120.00. Following the sale, the senior vice president now owns 14,420 shares in the company, valued at $1,082,365.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Rafael Basso sold 12,624 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $74.48, for a total transaction of $940,235.52. Following the sale, the vice president now owns 4,624 shares in the company, valued at approximately $344,395.52. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Allison Transmission Trading Up 0.9 %

Shares of NYSE ALSN traded up $0.75 during midday trading on Tuesday, hitting $88.23. 577,612 shares of the company traded hands, compared to its average volume of 647,617. Allison Transmission Holdings, Inc. has a 12-month low of $50.13 and a 12-month high of $89.07. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.95 and a current ratio of 2.51. The stock has a 50-day moving average price of $76.92 and a 200 day moving average price of $74.13. The firm has a market cap of $7.72 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.61 and a beta of 1.00.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Thursday, July 25th. The auto parts company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.09. Allison Transmission had a net margin of 21.95% and a return on equity of 54.59%. The company had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $799.44 million. During the same quarter in the previous year, the company earned $1.92 earnings per share. Allison Transmission’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, analysts expect that Allison Transmission Holdings, Inc. will post 7.69 earnings per share for the current year.

Allison Transmission Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, May 17th. Allison Transmission’s dividend payout ratio is currently 13.35%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ALSN. Citigroup began coverage on shares of Allison Transmission in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $80.00 price target for the company. Raymond James started coverage on shares of Allison Transmission in a research note on Friday, June 28th. They issued an “outperform” rating and a $85.00 price target for the company. The Goldman Sachs Group upped their price objective on shares of Allison Transmission from $63.00 to $72.00 and gave the company a “sell” rating in a research note on Monday. StockNews.com raised shares of Allison Transmission from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Robert W. Baird upped their price objective on shares of Allison Transmission from $87.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Allison Transmission presently has a consensus rating of “Hold” and an average target price of $76.75.

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.