Franklin Resources Inc. Purchases 79,745 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Franklin Resources Inc. increased its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 46.8% during the third quarter, HoldingsChannel reports. The fund owned 250,050 shares of the auto parts company’s stock after buying an additional 79,745 shares during the quarter. Franklin Resources Inc.’s holdings in Allison Transmission were worth $24,955,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ALSN. Raymond James & Associates grew its holdings in Allison Transmission by 9.9% during the 2nd quarter. Raymond James & Associates now owns 187,422 shares of the auto parts company’s stock worth $14,225,000 after acquiring an additional 16,893 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Allison Transmission by 36,851.4% in the second quarter. Nisa Investment Advisors LLC now owns 25,866 shares of the auto parts company’s stock worth $1,963,000 after purchasing an additional 25,796 shares during the last quarter. Fifth Third Bancorp increased its holdings in Allison Transmission by 139.8% in the second quarter. Fifth Third Bancorp now owns 868 shares of the auto parts company’s stock valued at $66,000 after purchasing an additional 506 shares during the period. Raymond James Trust N.A. raised its position in Allison Transmission by 4.1% during the 2nd quarter. Raymond James Trust N.A. now owns 5,072 shares of the auto parts company’s stock worth $385,000 after purchasing an additional 200 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Allison Transmission by 12.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 683,831 shares of the auto parts company’s stock worth $51,903,000 after purchasing an additional 77,649 shares during the last quarter. Institutional investors and hedge funds own 96.90% of the company’s stock.

Insider Activity at Allison Transmission

In other Allison Transmission news, CEO David S. Graziosi sold 5,326 shares of Allison Transmission stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $120.12, for a total transaction of $639,759.12. Following the completion of the transaction, the chief executive officer now owns 168,833 shares in the company, valued at approximately $20,280,219.96. The trade was a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas Eifert sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $95.00, for a total value of $190,000.00. Following the completion of the sale, the vice president now directly owns 9,601 shares of the company’s stock, valued at approximately $912,095. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,380 shares of company stock valued at $2,830,837. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALSN. JPMorgan Chase & Co. increased their price target on Allison Transmission from $80.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Citigroup increased their target price on shares of Allison Transmission from $125.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Bank of America boosted their price target on shares of Allison Transmission from $67.00 to $77.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on shares of Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 12th. Finally, Robert W. Baird boosted their target price on shares of Allison Transmission from $103.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $102.63.

Allison Transmission Trading Up 0.3 %

NYSE:ALSN opened at $107.22 on Friday. The firm has a fifty day simple moving average of $111.19 and a two-hundred day simple moving average of $93.68. Allison Transmission Holdings, Inc. has a 12 month low of $55.19 and a 12 month high of $122.53. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 2.03 and a beta of 0.98. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 1.48.

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

Allison Transmission Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.93%. The ex-dividend date was Monday, November 18th. Allison Transmission’s payout ratio is currently 12.18%.

Allison Transmission 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.