Empowered Funds LLC bought a new position in Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 120,174 shares of the auto parts company’s stock, valued at approximately $13,548,000.
A number of other large investors have also modified their holdings of ALSN. BlackRock Inc. acquired a new stake in Allison Transmission in the second quarter valued at approximately $448,232,000. Fuller & Thaler Asset Management Inc. raised its stake in shares of Allison Transmission by 16.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,313,661 shares of the auto parts company’s stock valued at $324,407,000 after purchasing an additional 466,366 shares during the period. Boston Partners lifted its position in shares of Allison Transmission by 13.6% during the fourth quarter. Boston Partners now owns 2,316,240 shares of the auto parts company’s stock worth $226,879,000 after purchasing an additional 277,811 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Allison Transmission by 4,032.3% during the fourth quarter. Bank of Montreal Can now owns 2,151,871 shares of the auto parts company’s stock worth $210,668,000 after purchasing an additional 2,099,797 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Allison Transmission by 85.2% in the first quarter. First Trust Advisors LP now owns 2,026,603 shares of the auto parts company’s stock valued at $237,234,000 after purchasing an additional 932,201 shares during the period. Institutional investors and hedge funds own 96.90% of the company’s stock.
Allison Transmission Stock Down 2.1%
ALSN stock opened at $126.41 on Friday. Allison Transmission Holdings, Inc. has a twelve month low of $76.01 and a twelve month high of $137.62. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 2.07. The company has a market capitalization of $10.44 billion, a P/E ratio of 20.10, a PEG ratio of 0.69 and a beta of 0.95. The firm has a 50 day simple moving average of $120.12 and a 200-day simple moving average of $119.82.
Allison Transmission Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.16 annualized dividend and a dividend yield of 0.9%. Allison Transmission’s payout ratio is presently 18.44%.
Insider Activity
In other news, 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 value of $3,551,362.76. Following the sale, the chief executive officer owned 304,843 shares in the company, valued at approximately $40,534,973.71. This represents a 8.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric C. Scroggins sold 1,050 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $125.00, for a total transaction of $131,250.00. Following the completion of the sale, the insider owned 16,604 shares in the company, valued at approximately $2,075,500. This trade represents a 5.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of research firms recently weighed in on ALSN. Wells Fargo & Company raised their price target on shares of Allison Transmission from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. raised their target price on Allison Transmission from $140.00 to $145.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Citigroup dropped their target price on Allison Transmission from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Finally, Morgan Stanley boosted their price target on Allison Transmission from $126.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $131.17.
Read Our Latest Stock Analysis 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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