Truist Financial Corp Sells 2,111 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Truist Financial Corp decreased its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 9.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,738 shares of the auto parts company’s stock after selling 2,111 shares during the period. Truist Financial Corp’s holdings in Allison Transmission were worth $1,114,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ALSN. ICA Group Wealth Management LLC bought a new stake in Allison Transmission in the fourth quarter worth about $25,000. Canada Pension Plan Investment Board raised its position in Allison Transmission by 157.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the auto parts company’s stock worth $51,000 after acquiring an additional 795 shares during the period. Fred Alger Management LLC raised its position in Allison Transmission by 100.9% in the third quarter. Fred Alger Management LLC now owns 2,144 shares of the auto parts company’s stock worth $72,000 after acquiring an additional 1,077 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in Allison Transmission in the first quarter worth about $73,000. Finally, Steward Partners Investment Advisory LLC raised its position in Allison Transmission by 1,630.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,730 shares of the auto parts company’s stock worth $78,000 after acquiring an additional 1,630 shares during the period. Institutional investors own 96.57% of the company’s stock.

Insiders Place Their Bets

In other Allison Transmission news, SVP John Coll sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $60.19, for a total value of $120,380.00. Following the completion of the transaction, the senior vice president now owns 16,788 shares of the company’s stock, valued at approximately $1,010,469.72. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO G Frederick Bohley sold 4,950 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $60.32, for a total value of $298,584.00. Following the completion of the sale, the chief financial officer now directly owns 67,368 shares in the company, valued at approximately $4,063,637.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John Coll sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $60.19, for a total transaction of $120,380.00. Following the completion of the sale, the senior vice president now owns 16,788 shares of the company’s stock, valued at $1,010,469.72. The disclosure for this sale can be found here. Insiders sold a total of 17,112 shares of company stock valued at $1,019,628 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Allison Transmission Price Performance

ALSN stock opened at $52.41 on Monday. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.41 and a quick ratio of 1.86. Allison Transmission Holdings, Inc. has a one year low of $41.08 and a one year high of $61.53. The stock has a market cap of $4.69 billion, a PE ratio of 7.43, a P/E/G ratio of 1.05 and a beta of 0.97. The firm has a 50 day simple moving average of $58.16 and a two-hundred day simple moving average of $55.31.

Allison Transmission Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 13th will be paid a $0.23 dividend. The ex-dividend date is Friday, November 10th. This represents a $0.92 dividend on an annualized basis and a yield of 1.76%. Allison Transmission’s dividend payout ratio is presently 13.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALSN. The Goldman Sachs Group lifted their target price on shares of Allison Transmission from $42.00 to $48.00 and gave the stock a “sell” rating in a research note on Monday, July 31st. Oppenheimer lifted their target price on shares of Allison Transmission from $53.00 to $67.00 in a research note on Friday, July 28th. Credit Suisse Group lifted their target price on shares of Allison Transmission from $49.00 to $57.00 in a research note on Monday, July 31st. StockNews.com cut shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, Citigroup boosted their price objective on shares of Allison Transmission from $63.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Allison Transmission has a consensus rating of “Hold” and an average target price of $55.25.

About Allison Transmission

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. The company offers transmissions for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school and transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.