Vise Technologies Inc. raised its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) by 89.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,615 shares of the auto parts company’s stock after buying an additional 8,324 shares during the period. Vise Technologies Inc.’s holdings in Allison Transmission were worth $1,995,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of ALSN. BlackRock Inc. acquired a new position in Allison Transmission in the 2nd quarter valued at approximately $448,232,000. Stockbridge Partners LLC bought a new stake in shares of Allison Transmission in the 2nd quarter worth approximately $169,108,000. First Trust Advisors LP grew its holdings in shares of Allison Transmission by 85.2% during the 1st quarter. First Trust Advisors LP now owns 2,026,603 shares of the auto parts company’s stock worth $237,234,000 after purchasing an additional 932,201 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of Allison Transmission by 105.7% during the 2nd quarter. Wasatch Advisors LP now owns 1,510,496 shares of the auto parts company’s stock worth $170,293,000 after purchasing an additional 776,169 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Allison Transmission during the 2nd quarter worth approximately $83,110,000. 96.90% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. Freedom Broker initiated coverage on shares of Allison Transmission in a report on Friday, October 2nd. They issued a “buy” rating and a $144.00 price target on the stock. Citigroup increased their price objective on shares of Allison Transmission from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Allison Transmission from $145.00 to $142.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Weiss Ratings upgraded shares of Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company lowered their target price on shares of Allison Transmission from $137.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.57.
Read Our Latest Analysis on ALSN
Allison Transmission Price Performance
Shares of ALSN stock opened at $116.36 on Friday. The stock’s fifty day moving average is $116.66 and its 200-day moving average is $118.44. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.17 and a current ratio of 1.77. The stock has a market capitalization of $9.61 billion, a PE ratio of 12.17, a PEG ratio of 0.60 and a beta of 1.06. Allison Transmission Holdings, Inc. has a 52 week low of $78.77 and a 52 week high of $137.62.
Allison Transmission (NYSE:ALSN – Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The auto parts company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.58. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.47 billion. Allison Transmission had a net margin of 11.12% and a return on equity of 42.33%. The firm’s revenue was up 121.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 EPS. Equities research analysts expect that Allison Transmission Holdings, Inc. will post 10.28 EPS for the current fiscal year.
Allison Transmission Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, August 21st. Allison Transmission’s dividend payout ratio is presently 16.67%.
Insider Buying and Selling
In related news, insider Eric C. Scroggins sold 1,050 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $125.00, for a total value of $131,250.00. Following the completion of the transaction, the insider directly owned 16,604 shares of the company’s stock, valued at approximately $2,075,500. This represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Graziosi sold 26,708 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $132.97, for a total transaction of $3,551,362.76. Following the completion of the transaction, the chief executive officer owned 304,843 shares in the company, valued at approximately $40,534,973.71. This trade represents a 8.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by corporate insiders.
Allison Transmission Profile
Allison Transmission, Inc designs and manufactures propulsion solutions for commercial, defense and off-highway vehicles. The company is best known for its fully automatic transmissions, which are used in applications including refuse collection, construction, distribution, emergency services, public transportation and mining.
Its product portfolio also includes electric and hybrid-electric propulsion systems, including the eGen Power electric axle and other electrification technologies.
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