Bank of New York Mellon Corp Reduces Stake in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Bank of New York Mellon Corp reduced its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 582,648 shares of the auto parts company’s stock after selling 8,296 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.68% of Allison Transmission worth $55,742,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Proficio Capital Partners LLC acquired a new position in Allison Transmission during the 4th quarter worth about $42,000. Amundi increased its holdings in shares of Allison Transmission by 0.3% in the 4th quarter. Amundi now owns 46,288 shares of the auto parts company’s stock valued at $5,102,000 after acquiring an additional 146 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Allison Transmission by 9.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,453 shares of the auto parts company’s stock valued at $2,534,000 after acquiring an additional 2,022 shares during the last quarter. Swiss National Bank increased its holdings in shares of Allison Transmission by 0.4% in the 4th quarter. Swiss National Bank now owns 171,400 shares of the auto parts company’s stock valued at $18,521,000 after acquiring an additional 600 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Allison Transmission by 15.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 25,776 shares of the auto parts company’s stock worth $2,785,000 after buying an additional 3,472 shares during the last quarter. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Allison Transmission Trading Down 3.9%

Shares of ALSN opened at $91.75 on Friday. The stock’s 50-day moving average is $99.30 and its two-hundred day moving average is $101.07. The stock has a market cap of $7.73 billion, a PE ratio of 10.62 and a beta of 0.96. Allison Transmission Holdings, Inc. has a 12 month low of $77.39 and a 12 month high of $122.53. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.05 and a quick ratio of 2.37.

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

Allison Transmission Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, May 19th. Allison Transmission’s payout ratio is currently 12.50%.

Wall Street Analyst Weigh In

ALSN has been the topic of a number of research reports. Morgan Stanley raised their price target on Allison Transmission from $94.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Wall Street Zen cut Allison Transmission from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Robert W. Baird reduced their price objective on Allison Transmission from $123.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Raymond James Financial cut their price target on Allison Transmission from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Finally, The Goldman Sachs Group boosted their price target on Allison Transmission from $80.00 to $90.00 and gave the stock a “sell” rating in a report on Tuesday, May 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.00.

Insider Transactions at Allison Transmission

In other Allison Transmission 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 owned 11,924 shares in the company, valued at $1,254,881.76. This represents a 22.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

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.