Principal Financial Group Inc. Lowers Stock Holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Principal Financial Group Inc. cut its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 14.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,587 shares of the auto parts company’s stock after selling 974 shares during the period. Principal Financial Group Inc.’s holdings in Allison Transmission were worth $537,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ALSN. Versant Capital Management Inc boosted its stake in Allison Transmission by 1,200.0% in the second quarter. Versant Capital Management Inc now owns 364 shares of the auto parts company’s stock valued at $28,000 after acquiring an additional 336 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Allison Transmission during the second quarter worth about $33,000. Fifth Third Bancorp grew its holdings in shares of Allison Transmission by 139.8% during the second quarter. Fifth Third Bancorp now owns 868 shares of the auto parts company’s stock worth $66,000 after buying an additional 506 shares during the last quarter. Quent Capital LLC increased its position in Allison Transmission by 24.0% in the 2nd quarter. Quent Capital LLC now owns 889 shares of the auto parts company’s stock valued at $68,000 after acquiring an additional 172 shares during the period. Finally, GAMMA Investing LLC raised its stake in Allison Transmission by 152.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,033 shares of the auto parts company’s stock valued at $99,000 after acquiring an additional 624 shares during the last quarter. Institutional investors and hedge funds own 96.90% of the company’s stock.

Insider Transactions at Allison Transmission

In related news, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $117.73, for a total transaction of $235,460.00. Following the sale, the senior vice president now directly owns 8,420 shares in the company, valued at $991,286.60. This trade represents a 19.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Thomas Eifert sold 1,741 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $100.00, for a total value of $174,100.00. Following the transaction, the vice president now directly owns 9,601 shares of the company’s stock, valued at approximately $960,100. This trade represents a 15.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,741 shares of company stock worth $781,520 in the last three months. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALSN. Oppenheimer increased their price target on shares of Allison Transmission from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup raised their price target on Allison Transmission from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Robert W. Baird upped their price objective on Allison Transmission from $103.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on Allison Transmission from $72.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, November 1st. Finally, Bank of America raised their price objective on shares of Allison Transmission from $67.00 to $77.00 and gave the company an “underperform” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Allison Transmission presently has an average rating of “Hold” and an average price target of $94.25.

Allison Transmission Stock Performance

ALSN opened at $119.65 on Monday. The stock has a 50-day moving average of $103.23 and a 200-day moving average of $88.47. Allison Transmission Holdings, Inc. has a 52-week low of $53.09 and a 52-week high of $121.36. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.25 and a current ratio of 2.83. The company has a market cap of $10.36 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.10 and a beta of 0.98.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.26. The firm had revenue of $824.00 million for the quarter, compared to analyst estimates of $790.08 million. Allison Transmission had a return on equity of 51.13% and a net margin of 22.66%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.76 earnings per share. As a group, equities research analysts forecast that Allison Transmission Holdings, Inc. will post 8.21 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, November 18th. Allison Transmission’s dividend payout ratio (DPR) is currently 12.18%.

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.