Fifth Third Bancorp Sells 145 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Fifth Third Bancorp reduced its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 20.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 566 shares of the auto parts company’s stock after selling 145 shares during the period. Fifth Third Bancorp’s holdings in Allison Transmission were worth $54,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Allison Transmission by 9.8% during the first quarter. GAMMA Investing LLC now owns 1,550 shares of the auto parts company’s stock worth $148,000 after purchasing an additional 138 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in Allison Transmission by 58.7% in the first quarter. Pallas Capital Advisors LLC now owns 4,236 shares of the auto parts company’s stock valued at $405,000 after acquiring an additional 1,567 shares during the period. City State Bank grew its stake in Allison Transmission by 132.1% in the first quarter. City State Bank now owns 1,625 shares of the auto parts company’s stock valued at $155,000 after acquiring an additional 925 shares during the period. Vest Financial LLC acquired a new position in Allison Transmission in the first quarter valued at about $2,342,000. Finally, Merit Financial Group LLC grew its stake in Allison Transmission by 120.3% in the first quarter. Merit Financial Group LLC now owns 5,300 shares of the auto parts company’s stock valued at $507,000 after acquiring an additional 2,894 shares during the period. Institutional investors own 96.90% of the company’s stock.

Allison Transmission Trading Down 1.7%

NYSE ALSN opened at $90.66 on Friday. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of 10.49 and a beta of 1.00. The stock’s 50 day moving average price is $97.93 and its two-hundred day moving average price is $103.17. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.37 and a current ratio of 3.05. Allison Transmission Holdings, Inc. has a 52 week low of $73.65 and a 52 week high of $122.53.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Thursday, May 1st. The auto parts company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.26. Allison Transmission had a net margin of 23.55% and a return on equity of 46.97%. The business had revenue of $766.00 million for the quarter, compared to analyst estimates of $792.18 million. During the same quarter in the previous year, the firm posted $1.90 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, May 19th. This represents a $1.08 annualized dividend and a yield of 1.19%. Allison Transmission’s payout ratio is presently 12.50%.

Insider Buying and Selling

In other news, VP Ryan A. Milburn sold 3,412 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $105.24, for a total transaction of $359,078.88. Following the sale, the vice president now owns 11,924 shares in the company, valued at $1,254,881.76. This represents a 22.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John Coll sold 1,788 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total value of $170,450.04. Following the sale, the senior vice president now owns 15,388 shares in the company, valued at approximately $1,466,938.04. This represents a 10.41% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ALSN has been the topic of several recent analyst reports. Wall Street Zen upgraded Allison Transmission from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Raymond James Financial cut their price target on shares of Allison Transmission from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Robert W. Baird cut their price target on shares of Allison Transmission from $123.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their price objective on shares of Allison Transmission from $110.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Bank of America boosted their price objective on shares of Allison Transmission from $74.00 to $79.00 and gave the company an “underperform” rating in a research report on Monday, June 16th. 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’s stock. According to MarketBeat, Allison Transmission has an average rating of “Hold” and an average target price of $98.38.

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.