Canada Pension Plan Investment Board bought a new stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 120,600 shares of the auto parts company's stock, valued at approximately $13,596,000. Canada Pension Plan Investment Board owned 0.15% of Allison Transmission as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Allison Transmission during the second quarter worth approximately $448,232,000. Bank of Montreal Can boosted its position in shares of Allison Transmission by 4,032.3% in the fourth quarter. Bank of Montreal Can now owns 2,151,871 shares of the auto parts company's stock valued at $210,668,000 after acquiring an additional 2,099,797 shares during the period. Stockbridge Partners LLC acquired a new stake in shares of Allison Transmission in the second quarter worth $169,108,000. Norges Bank acquired a new stake in shares of Allison Transmission in the fourth quarter worth $115,674,000. Finally, Boston Partners increased its position in Allison Transmission by 117.6% during the third quarter. Boston Partners now owns 2,038,429 shares of the auto parts company's stock worth $173,093,000 after acquiring an additional 1,101,824 shares during the period. Institutional investors and hedge funds own 96.90% of the company's stock.
Allison Transmission Price Performance
ALSN opened at $126.41 on Friday. The company's 50 day simple moving average is $120.12 and its 200-day simple moving average is $119.82. The stock has a market capitalization of $10.44 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. Allison Transmission Holdings, Inc. has a one year low of $76.01 and a one year high of $137.62. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.81 and a quick ratio of 1.17.
Allison Transmission (NYSE:ALSN - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The auto parts company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.25. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.50 billion. Allison Transmission had a return on equity of 38.18% and a net margin of 12.02%.The firm's revenue for the quarter was up 92.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 earnings per share. Sell-side analysts anticipate that Allison Transmission Holdings, Inc. will post 9.94 earnings per share for the current fiscal year.
Allison Transmission Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be given a dividend of $0.29 per share. The ex-dividend date is Friday, August 21st. This represents a $1.16 annualized dividend and a dividend yield of 0.9%. Allison Transmission's payout ratio is currently 18.44%.
Wall Street Analysts Forecast Growth
ALSN has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Allison Transmission from $140.00 to $145.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Wells Fargo & Company raised their price target on shares of Allison Transmission from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Morgan Stanley boosted their price objective on shares of Allison Transmission from $126.00 to $130.00 and gave the stock an "equal weight" rating in a report on Friday, July 17th. Citigroup cut their price objective on shares of Allison Transmission from $135.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of Allison Transmission from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $131.17.
Read Our Latest Stock Analysis on ALSN
Insider Activity at Allison Transmission
In related news, CEO David S. Graziosi sold 26,708 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 304,843 shares of the company's stock, valued at $40,534,973.71. The trade was a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric C. Scroggins sold 1,050 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $125.00, for a total transaction of $131,250.00. Following the sale, the insider directly owned 16,604 shares of the company's stock, valued at approximately $2,075,500. This trade represents a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.
Allison Transmission Company Profile
(
Free Report)
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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