Point72 Asset Management L.P. Acquires New Stake in Allison Transmission Holdings Inc (NYSE:ALSN)
Point72 Asset Management L.P. bought a new position in shares of Allison Transmission Holdings Inc (NYSE:ALSN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 254,116 shares of the auto parts company’s stock, valued at approximately $12,279,000. Point72 Asset Management L.P. owned approximately 0.21% of Allison Transmission at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new position in shares of Allison Transmission during the 4th quarter valued at $43,000. Islay Capital Management LLC bought a new position in Allison Transmission during the fourth quarter valued at about $87,000. Acadian Asset Management LLC acquired a new position in Allison Transmission during the fourth quarter worth about $98,000. Marshall Wace LLP acquired a new position in Allison Transmission during the first quarter worth about $106,000. Finally, Taylor Hoffman Wealth Management acquired a new position in Allison Transmission during the fourth quarter worth about $108,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.
Shares of NYSE ALSN traded up $2.03 during mid-day trading on Thursday, hitting $33.79. 1,401,135 shares of the company traded hands, compared to its average volume of 1,305,389. The company has a quick ratio of 1.17, a current ratio of 1.65 and a debt-to-equity ratio of 3.22. Allison Transmission Holdings Inc has a 1 year low of $26.15 and a 1 year high of $50.46. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 1.07 and a beta of 1.35. The business has a 50 day moving average of $39.39 and a two-hundred day moving average of $44.92.
The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Monday, March 9th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, March 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.15. Allison Transmission’s payout ratio is currently 13.99%.
ALSN has been the subject of several research reports. Royal Bank of Canada restated a “hold” rating and set a $47.00 price objective on shares of Allison Transmission in a research report on Tuesday, February 25th. Morgan Stanley lowered their price objective on shares of Allison Transmission from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 17th. Robert W. Baird reiterated a “buy” rating and issued a $57.00 target price on shares of Allison Transmission in a report on Thursday, February 20th. TheStreet lowered shares of Allison Transmission from a “b-” rating to a “c+” rating in a research note on Thursday, March 19th. Finally, Citigroup reduced their target price on shares of Allison Transmission from $48.00 to $42.00 and set a “buy” rating for the company in a report on Friday, March 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $48.50.
About Allison Transmission
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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