Cinctive Capital Management LP purchased a new stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 79,411 shares of the auto parts company’s stock, valued at approximately $7,774,000. Cinctive Capital Management LP owned about 0.10% of Allison Transmission at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Rossby Financial LCC increased its position in shares of Allison Transmission by 107.0% during the third quarter. Rossby Financial LCC now owns 296 shares of the auto parts company’s stock valued at $25,000 after acquiring an additional 153 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Allison Transmission by 536.7% during the fourth quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 263 shares during the last quarter. Transamerica Financial Advisors LLC increased its position in shares of Allison Transmission by 2,112.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company’s stock valued at $35,000 after acquiring an additional 338 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Allison Transmission during the fourth quarter valued at approximately $51,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Allison Transmission during the third quarter valued at approximately $61,000. 96.90% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Allison Transmission
In other news, CFO Scott A. Mell sold 2,270 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.00, for a total value of $283,750.00. Following the completion of the transaction, the chief financial officer directly owned 1,053 shares of the company’s stock, valued at $131,625. This trade represents a 68.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.
Allison Transmission Stock Performance
Allison Transmission (NYSE:ALSN – Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The auto parts company reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.47. Allison Transmission had a return on equity of 37.50% and a net margin of 14.88%.The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company earned $2.23 earnings per share. The business’s revenue for the quarter was up 83.6% on a year-over-year basis. On average, analysts expect that Allison Transmission Holdings, Inc. will post 9.96 earnings per share for the current year.
Allison Transmission Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Allison Transmission’s dividend payout ratio (DPR) is presently 18.04%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on ALSN. Wells Fargo & Company increased their price target on Allison Transmission from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Oppenheimer increased their price target on Allison Transmission from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Zacks Research downgraded Allison Transmission from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Weiss Ratings raised Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. Finally, Morgan Stanley raised their target price 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 investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.17.
Read Our Latest Analysis on Allison Transmission
Allison Transmission 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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