Cornerstone Wealth Management LLC decreased its position in shares of Allison Transmission Holdings Inc (NYSE:ALSN) by 45.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,971 shares of the auto parts company’s stock after selling 7,604 shares during the period. Cornerstone Wealth Management LLC’s holdings in Allison Transmission were worth $243,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ALSN. Townsend & Associates Inc acquired a new position in Allison Transmission during the 2nd quarter worth about $111,000. Sun Life Financial INC acquired a new position in Allison Transmission during the 2nd quarter worth about $115,000. Moneta Group Investment Advisors LLC raised its position in Allison Transmission by 96.4% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 4,095 shares of the auto parts company’s stock valued at $166,000 after purchasing an additional 2,010 shares in the last quarter. Sigma Planning Corp acquired a new stake in Allison Transmission in the 2nd quarter valued at about $232,000. Finally, Murphy Capital Management Inc. acquired a new stake in Allison Transmission in the 2nd quarter valued at about $249,000.
In other news, Director Lawrence E. Dewey sold 111,459 shares of the stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $51.77, for a total value of $5,770,232.43. Following the transaction, the director now owns 400,133 shares in the company, valued at approximately $20,714,885.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Eric C. Scroggins sold 4,940 shares of the stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $49.00, for a total value of $242,060.00. Following the completion of the transaction, the vice president now owns 23,893 shares in the company, valued at approximately $1,170,757. The disclosure for this sale can be found here. In the last quarter, insiders sold 388,664 shares of company stock worth $20,046,606. Company insiders own 8.40% of the company’s stock.
ALSN has been the topic of a number of analyst reports. Buckingham Research set a $50.00 price target on Allison Transmission and gave the company a “hold” rating in a research report on Thursday, October 11th. Stifel Nicolaus increased their price target on Allison Transmission from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Bank of America increased their price target on Allison Transmission from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, July 31st. Piper Jaffray Companies set a $26.00 price target on Allison Transmission and gave the company a “sell” rating in a research report on Tuesday, July 31st. Finally, Oppenheimer set a $50.00 price target on Allison Transmission and gave the company a “buy” rating in a research report on Monday, October 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Allison Transmission has a consensus rating of “Hold” and an average price target of $47.82.
ALSN stock opened at $47.00 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 3.69. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 1.01 and a beta of 1.43. Allison Transmission Holdings Inc has a 1 year low of $37.41 and a 1 year high of $53.76.
Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Monday, October 29th. The auto parts company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.17. Allison Transmission had a return on equity of 90.71% and a net margin of 26.64%. The business had revenue of $692.00 million for the quarter, compared to the consensus estimate of $656.52 million. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. Equities analysts forecast that Allison Transmission Holdings Inc will post 4.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Monday, November 19th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. Allison Transmission’s payout ratio is currently 22.56%.
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Allison Transmission Company Profile
Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers 13 transmission product lines with approximately 100 product models for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school, transit, and hybrid-transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.
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