PNC Financial Services Group Inc. Sells 333 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

PNC Financial Services Group Inc. lessened its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,735 shares of the auto parts company’s stock after selling 333 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Allison Transmission were worth $3,337,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Thompson Siegel & Walmsley LLC lifted its position in shares of Allison Transmission by 257.8% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 319,428 shares of the auto parts company’s stock worth $24,245,000 after purchasing an additional 230,152 shares during the period. Victory Capital Management Inc. lifted its position in shares of Allison Transmission by 86.7% in the 3rd quarter. Victory Capital Management Inc. now owns 245,148 shares of the auto parts company’s stock worth $23,551,000 after purchasing an additional 113,868 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Allison Transmission in the 2nd quarter worth approximately $7,953,000. Burney Co. lifted its position in shares of Allison Transmission by 34.7% in the 1st quarter. Burney Co. now owns 395,752 shares of the auto parts company’s stock worth $32,119,000 after purchasing an additional 101,920 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Allison Transmission by 12.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 683,831 shares of the auto parts company’s stock valued at $51,903,000 after acquiring an additional 77,649 shares during the period. Institutional investors 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 Thursday, August 29th. The stock was sold at an average price of $90.98, for a total value of $181,960.00. Following the completion of the sale, the senior vice president now owns 12,420 shares of the company’s stock, valued at $1,129,971.60. This trade represents a 13.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas Eifert sold 1,741 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 9,601 shares of the company’s stock, valued at $960,100. The trade was a 15.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,741 shares of company stock worth $781,520. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALSN. Bank of America boosted their target price on shares of Allison Transmission from $67.00 to $77.00 and gave the company an “underperform” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Allison Transmission from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group upped their target price on shares of Allison Transmission from $72.00 to $82.00 and gave the stock a “sell” rating in a research note on Friday, November 1st. Citigroup upped their target price on shares of Allison Transmission from $115.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Finally, Oppenheimer upped their target price on shares of Allison Transmission from $90.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Allison Transmission currently has a consensus rating of “Hold” and a consensus target price of $94.25.

Allison Transmission Stock Up 1.3 %

Shares of NYSE ALSN opened at $119.65 on Monday. Allison Transmission Holdings, Inc. has a one year low of $53.09 and a one year high of $121.36. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.83 and a quick ratio of 2.25. The firm’s 50 day simple moving average is $103.23 and its two-hundred day simple moving average is $88.47. The stock has a market capitalization of $10.36 billion, a P/E ratio of 14.57, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.26. Allison Transmission had a net margin of 22.66% and a return on equity of 51.13%. The business had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $790.08 million. During the same period last year, the business earned $1.76 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, analysts expect that Allison Transmission Holdings, Inc. will post 8.21 EPS for the current fiscal year.

Allison Transmission Announces Dividend

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

Allison Transmission Company 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.