Public Employees Retirement System of Ohio bought a new stake in Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 76,968 shares of the auto parts company’s stock, valued at approximately $8,677,000.
Several other hedge funds also recently bought and sold shares of the stock. Millstone Evans Group LLC purchased a new stake in shares of Allison Transmission in the 1st quarter valued at approximately $26,000. Cedar Mountain Advisors LLC acquired a new position in shares of Allison Transmission in the 1st quarter worth approximately $27,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Allison Transmission during the 1st quarter worth approximately $28,000. Larson Financial Group LLC boosted its position in shares of Allison Transmission by 536.7% during the 4th quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 263 shares during the period. Finally, Transamerica Financial Advisors LLC increased its holdings in Allison Transmission by 2,112.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 338 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.
Allison Transmission Price Performance
Shares of ALSN opened at $125.98 on Tuesday. Allison Transmission Holdings, Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $137.62. The firm’s 50 day moving average price is $120.22 and its 200 day moving average price is $119.92. The company has a market cap of $10.40 billion, a P/E ratio of 20.03, a PEG ratio of 0.68 and a beta of 0.95. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 2.07.
Allison Transmission Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were issued a dividend of $0.29 per share. The ex-dividend date was Friday, August 21st. This represents a $1.16 annualized dividend and a yield of 0.9%. Allison Transmission’s dividend payout ratio is 18.44%.
Insider Transactions at Allison Transmission
In other Allison Transmission news, insider Eric C. Scroggins sold 1,050 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $125.00, for a total value of $131,250.00. Following the sale, the insider owned 16,604 shares of the company’s stock, valued at $2,075,500. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Graziosi sold 26,708 shares of Allison Transmission stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $132.97, for a total value of $3,551,362.76. Following the completion of the transaction, the chief executive officer owned 304,843 shares of the company’s stock, valued at $40,534,973.71. The trade was a 8.06% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts have issued reports on ALSN shares. Weiss Ratings raised Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company lifted their price objective on Allison Transmission from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Morgan Stanley boosted their price objective on Allison Transmission from $126.00 to $130.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. JPMorgan Chase & Co. boosted their price objective on Allison Transmission from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Finally, Citigroup decreased their target price on Allison Transmission from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.17.
Get Our Latest Stock Report on ALSN
About Allison Transmission
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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