Illinois Municipal Retirement Fund Purchases Shares of 7,090 Allison Transmission Holdings, Inc. (NYSE:ALSN)

Illinois Municipal Retirement Fund acquired a new position in Allison Transmission Holdings, Inc. (NYSE:ALSN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,090 shares of the auto parts company’s stock, valued at approximately $766,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. DGS Capital Management LLC increased its stake in Allison Transmission by 2.5% in the 4th quarter. DGS Capital Management LLC now owns 3,424 shares of the auto parts company’s stock worth $370,000 after buying an additional 84 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Allison Transmission by 0.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,370 shares of the auto parts company’s stock worth $1,661,000 after acquiring an additional 100 shares during the period. Amalgamated Bank grew its position in shares of Allison Transmission by 1.6% during the fourth quarter. Amalgamated Bank now owns 6,381 shares of the auto parts company’s stock worth $690,000 after purchasing an additional 103 shares in the last quarter. Quarry LP raised its stake in Allison Transmission by 46.7% during the 3rd quarter. Quarry LP now owns 358 shares of the auto parts company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Allison Transmission by 3.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,697 shares of the auto parts company’s stock worth $355,000 after purchasing an additional 126 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Allison Transmission news, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the completion of the sale, the senior vice president now owns 6,420 shares of the company’s stock, valued at $695,928. This trade represents a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Allison Transmission Stock Down 3.3 %

Shares of NYSE ALSN opened at $98.42 on Tuesday. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45. Allison Transmission Holdings, Inc. has a 12-month low of $71.49 and a 12-month high of $122.53. The firm’s 50-day moving average price is $110.30 and its 200-day moving average price is $105.27. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 11.84 and a beta of 1.00.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. On average, equities research analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission announced that its Board of Directors has initiated a share buyback program on Thursday, February 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the auto parts company to repurchase up to 57.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a $0.27 dividend. The ex-dividend date is Monday, March 3rd. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.10%. Allison Transmission’s dividend payout ratio (DPR) is currently 13.00%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALSN. The Goldman Sachs Group increased their price objective on shares of Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 12th. StockNews.com downgraded shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 13th. Citigroup dropped their price objective on shares of Allison Transmission from $120.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Morgan Stanley raised their price objective on Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Allison Transmission currently has a consensus rating of “Hold” and an average target price of $100.75.

About Allison Transmission

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.