State of Alaska Department of Revenue Acquires 7,827 Shares of Allison Transmission Holdings, Inc. $ALSN

State of Alaska Department of Revenue grew its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) by 14.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,711 shares of the auto parts company’s stock after buying an additional 7,827 shares during the period. State of Alaska Department of Revenue owned approximately 0.08% of Allison Transmission worth $7,215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Allison Transmission during the 2nd quarter valued at about $448,232,000. Stockbridge Partners LLC bought a new position in shares of Allison Transmission in the 2nd quarter valued at about $169,108,000. First Trust Advisors LP lifted its holdings in shares of Allison Transmission by 85.2% in the 1st quarter. First Trust Advisors LP now owns 2,026,603 shares of the auto parts company’s stock valued at $237,234,000 after acquiring an additional 932,201 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of Allison Transmission by 105.7% in the 2nd quarter. Wasatch Advisors LP now owns 1,510,496 shares of the auto parts company’s stock valued at $170,293,000 after acquiring an additional 776,169 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in Allison Transmission in the second quarter worth about $83,110,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on ALSN shares. Wells Fargo & Company reduced their price objective on 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. Freedom Broker initiated coverage on Allison Transmission in a research report on Friday, October 2nd. They set a “buy” rating and a $144.00 price objective on the stock. Weiss Ratings raised Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lowered their price objective on Allison Transmission from $145.00 to $142.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Finally, Citigroup upgraded Allison Transmission from a “neutral” rating to a “buy” rating and set a $135.00 target price for the company in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.57.

Check Out Our Latest Stock Analysis on Allison Transmission

Insiders Place Their Bets

In related news, CEO David Graziosi sold 26,708 shares of the business’s stock in a transaction on Friday, August 21st. The stock was 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 $40,534,973.71. The trade was a 8.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric 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 in the company, valued at $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 owned by insiders.

Allison Transmission Stock Performance

Shares of NYSE:ALSN opened at $112.44 on Friday. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.58 and a beta of 0.98. Allison Transmission Holdings, Inc. has a 12 month low of $76.01 and a 12 month high of $137.62. The firm’s 50-day moving average is $121.34 and its 200 day moving average is $120.12. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 2.07.

Allison Transmission (NYSE:ALSN – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The auto parts company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.25. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.50 billion. Allison Transmission had a net margin of 12.02% and a return on equity of 38.18%. The firm’s quarterly revenue was up 92.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.29 earnings per share. Research analysts predict that Allison Transmission Holdings, Inc. will post 10.25 EPS for the current year.

Allison Transmission Announces Dividend

The firm also recently declared 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 dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 21st. Allison Transmission’s dividend payout ratio (DPR) is currently 18.44%.

About Allison Transmission

(Free Report)

Allison Transmission Holdings, Inc designs and manufactures fully automatic transmissions and propulsion solutions for commercial and defense vehicles. Its products are used in a broad range of applications, including refuse and construction trucks, buses, distribution vehicles, emergency vehicles, motorhomes, and off-highway equipment.

The company’s portfolio includes conventional automatic transmissions, hybrid-electric propulsion systems, and electric axles and other solutions intended to support vehicle electrification.

Further Reading

Institutional Ownership by Quarter for Allison Transmission (NYSE:ALSN)

Receive News & Ratings for Allison Transmission Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allison Transmission and related companies with MarketBeat.com's FREE daily email newsletter.