47,774 Shares in Allison Transmission Holdings, Inc. $ALSN Acquired by Man Group plc

Key Points

• Man Group plc acquired 47,774 Allison Transmission shares worth approximately $5.4 million, while institutional investors and hedge funds collectively owned 96.9% of the company.
• Allison reported quarterly earnings of $2.73 per share, beating estimates of $2.48, with revenue rising 92.4% year over year to $1.57 billion.
• The company declared a quarterly dividend of $0.29 per share, equivalent to an annualized $1.16 payout and a 0.9% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $131.17.

Man Group plc purchased a new position in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 47,774 shares of the auto parts company's stock, valued at approximately $5,386,000. Man Group plc owned about 0.06% of Allison Transmission at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in Allison Transmission during the 2nd quarter worth approximately $448,232,000. Fuller & Thaler Asset Management Inc. boosted its holdings in Allison Transmission by 16.4% in 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 last quarter. Boston Partners grew its position in Allison Transmission by 13.6% during the 4th 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 during the period. Bank of Montreal Can raised its stake in shares of Allison Transmission by 4,032.3% during the 4th quarter. Bank of Montreal Can now owns 2,151,871 shares of the auto parts company's stock valued at $210,668,000 after buying an additional 2,099,797 shares during the last quarter. Finally, First Trust Advisors LP raised its stake 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 valued at $237,234,000 after buying an additional 932,201 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 completion of the sale, the insider directly owned 16,604 shares in the company, valued at approximately $2,075,500. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Graziosi sold 26,708 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was 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 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 SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Allison Transmission Stock Up 0.1%

Shares of NYSE ALSN opened at $126.41 on Monday. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. The company's 50-day simple moving average is $120.12 and its 200-day simple moving average is $119.85. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 2.07. Allison Transmission Holdings, Inc. has a 52-week low of $76.01 and a 52-week high of $137.62.

Allison Transmission (NYSE:ALSN - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The auto parts company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.25. The firm 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 company's revenue for the quarter was up 92.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 EPS. Equities analysts predict that Allison Transmission Holdings, Inc. will post 9.94 EPS for the current fiscal year.

Allison Transmission Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.9%. Allison Transmission's dividend payout ratio is presently 18.44%.

Analyst Upgrades and Downgrades

ALSN has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target 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 report on Tuesday, July 14th. JPMorgan Chase & Co. upped their price objective on shares of Allison Transmission from $140.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Wells Fargo & Company increased their target price on shares of Allison Transmission from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings upgraded Allison Transmission from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $131.17.

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.

Want to see what other hedge funds are holding ALSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source