Cornercap Investment Counsel Inc. Has $1.22 Million Holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Cornercap Investment Counsel Inc. cut its position in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,113 shares of the auto parts company’s stock after selling 156 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Allison Transmission were worth $1,223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Qsemble Capital Management LP grew its stake in Allison Transmission by 82.4% in the 2nd quarter. Qsemble Capital Management LP now owns 6,573 shares of the auto parts company’s stock valued at $499,000 after buying an additional 2,970 shares during the last quarter. American Century Companies Inc. grew its stake in Allison Transmission by 0.9% in the 2nd quarter. American Century Companies Inc. now owns 43,768 shares of the auto parts company’s stock valued at $3,322,000 after buying an additional 397 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in Allison Transmission in the 2nd quarter valued at $437,000. Choreo LLC acquired a new position in Allison Transmission in the 2nd quarter valued at $237,000. Finally, Custom Index Systems LLC acquired a new stake in Allison Transmission in the 2nd quarter worth $447,000. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Allison Transmission

In related news, SVP John Coll sold 2,000 shares of Allison Transmission stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $75.06, for a total transaction of $150,120.00. Following the completion of the transaction, the senior vice president now directly owns 14,420 shares of the company’s stock, valued at approximately $1,082,365.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Allison Transmission from $87.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Raymond James assumed coverage on shares of Allison Transmission in a research report on Friday, June 28th. They issued an “outperform” rating and a $85.00 price target on the stock. Citigroup assumed coverage on shares of Allison Transmission in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $80.00 price target on the stock. StockNews.com lowered shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 2nd. Finally, The Goldman Sachs Group raised their price target on shares of Allison Transmission from $63.00 to $72.00 and gave the stock a “sell” rating in a research report on Monday, July 29th. One equities research analyst has 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.57.

Allison Transmission Price Performance

Shares of Allison Transmission stock opened at $86.10 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.19 and a current ratio of 2.78. The firm’s 50-day simple moving average is $85.08 and its 200-day simple moving average is $79.56. Allison Transmission Holdings, Inc. has a twelve month low of $50.13 and a twelve month high of $92.82. The firm has a market cap of $7.53 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99.

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 52.18%. The firm had revenue of $816.00 million during the quarter, compared to the consensus estimate of $799.44 million. During the same period last year, the firm posted $1.92 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, research analysts expect that Allison Transmission Holdings, Inc. will post 7.89 EPS for the current fiscal year.

Allison Transmission Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Monday, August 19th. Allison Transmission’s dividend payout ratio is currently 13.35%.

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.