Metropolitan Life Insurance Co NY decreased its holdings in shares of Allison Transmission Holdings Inc (NYSE:ALSN) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,136 shares of the auto parts company’s stock after selling 312 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Allison Transmission were worth $383,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Nuveen Asset Management LLC raised its position in Allison Transmission by 359.6% during the second quarter. Nuveen Asset Management LLC now owns 2,505,488 shares of the auto parts company’s stock valued at $116,129,000 after purchasing an additional 1,960,323 shares in the last quarter. Renaissance Technologies LLC raised its position in Allison Transmission by 32.6% during the second quarter. Renaissance Technologies LLC now owns 2,611,400 shares of the auto parts company’s stock valued at $121,038,000 after purchasing an additional 642,500 shares in the last quarter. LSV Asset Management raised its position in Allison Transmission by 12.0% during the second quarter. LSV Asset Management now owns 5,402,315 shares of the auto parts company’s stock valued at $250,397,000 after purchasing an additional 577,900 shares in the last quarter. BlackRock Inc. raised its position in Allison Transmission by 8.2% during the second quarter. BlackRock Inc. now owns 6,380,151 shares of the auto parts company’s stock valued at $295,721,000 after purchasing an additional 482,087 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Allison Transmission by 75.9% during the second quarter. AQR Capital Management LLC now owns 1,117,028 shares of the auto parts company’s stock valued at $51,774,000 after purchasing an additional 481,885 shares in the last quarter. 94.60% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on the company. Bank of America upgraded Allison Transmission from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Thursday, November 14th. Royal Bank of Canada decreased their price objective on Allison Transmission to $46.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Raymond James started coverage on Allison Transmission in a report on Wednesday, November 27th. They issued an “outperform” rating and a $50.00 price objective on the stock. Morgan Stanley set a $47.00 price objective on Allison Transmission and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Vertical Research upgraded Allison Transmission from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $47.56.
Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. Allison Transmission had a return on equity of 91.48% and a net margin of 23.61%. The company had revenue of $669.00 million for the quarter, compared to the consensus estimate of $665.63 million. During the same quarter in the previous year, the business earned $1.27 EPS. Allison Transmission’s revenue was down 3.3% compared to the same quarter last year. Analysts expect that Allison Transmission Holdings Inc will post 4.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. Allison Transmission’s dividend payout ratio is presently 12.55%.
Allison Transmission 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 12 transmission product lines 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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