Ritholtz Wealth Management lowered its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) by 23.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,445 shares of the auto parts company’s stock after selling 5,633 shares during the quarter. Ritholtz Wealth Management’s holdings in Allison Transmission were worth $2,159,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its position in Allison Transmission by 341.3% in the first quarter. Jane Street Group LLC now owns 288,674 shares of the auto parts company’s stock worth $27,617,000 after buying an additional 223,253 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Allison Transmission by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 214,907 shares of the auto parts company’s stock valued at $20,560,000 after acquiring an additional 11,542 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Allison Transmission by 9.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,892 shares of the auto parts company’s stock worth $180,000 after acquiring an additional 165 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Allison Transmission by 441.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,018 shares of the auto parts company’s stock worth $97,000 after acquiring an additional 830 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Allison Transmission in the 2nd quarter worth about $6,111,000. 96.90% of the stock is currently owned by institutional investors.
Insider Activity at Allison Transmission
In other news, CFO Scott A. Mell sold 2,270 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.00, for a total value of $283,750.00. Following the completion of the sale, the chief financial officer directly owned 1,053 shares of the company’s stock, valued at approximately $131,625. This represents a 68.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.
Allison Transmission Price Performance
Allison Transmission (NYSE:ALSN – Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The auto parts company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.47. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Allison Transmission had a net margin of 14.88% and a return on equity of 37.50%. The company’s revenue was up 83.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.23 earnings per share. Equities analysts anticipate that Allison Transmission Holdings, Inc. will post 9.86 EPS for the current year.
Allison Transmission Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, May 18th. Allison Transmission’s payout ratio is 18.04%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Allison Transmission from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Wells Fargo & Company upped their target price on shares of Allison Transmission from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Weiss Ratings lowered shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Zacks Research cut Allison Transmission from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, Morgan Stanley boosted their price objective on Allison Transmission from $117.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Allison Transmission currently has a consensus rating of “Hold” and an average price target of $127.17.
Get Our Latest Analysis on ALSN
Allison Transmission Company Profile
Allison Transmission Holdings Inc is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company’s products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison’s core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.
In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.
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