Allison Transmission Holdings, Inc. $ALSN Shares Bought by Norris Perne & French LLP MI

Key Points

• Norris Perne & French LLP MI more than doubled its Allison Transmission stake in the third quarter, acquiring 209,021 additional shares to own 404,105 shares valued at approximately $45.8 million.
• Institutional investors hold 96.9% of Allison Transmission’s outstanding stock, while analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $131.57.
• Allison reported quarterly earnings of $2.73 per share, exceeding estimates, as revenue rose 92.4% year over year to $1.57 billion. The company also pays a $0.29 quarterly dividend, equivalent to a 1.1% yield.

Norris Perne & French LLP MI raised its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 107.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 404,105 shares of the auto parts company's stock after acquiring an additional 209,021 shares during the quarter. Allison Transmission comprises 2.0% of Norris Perne & French LLP MI's portfolio, making the stock its 12th largest position. Norris Perne & French LLP MI owned approximately 0.49% of Allison Transmission worth $45,769,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Millstone Evans Group LLC bought a new position in Allison Transmission during the first quarter worth about $26,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Allison Transmission in the 1st quarter valued at approximately $27,000. Cassaday & Co Wealth Management LLC bought a new position in Allison Transmission during the 1st quarter worth approximately $28,000. Mather Group LLC. boosted its stake in Allison Transmission by 68.2% during the 3rd quarter. Mather Group LLC. now owns 291 shares of the auto parts company's stock worth $33,000 after acquiring an additional 118 shares during the last quarter. Finally, Persistent Asset Partners Ltd bought a new position in Allison Transmission during the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 96.90% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on ALSN. Freedom Broker started coverage on Allison Transmission in a report on Friday, October 2nd. They set a "buy" rating and a $144.00 target price on the stock. Citigroup upgraded Allison Transmission from a "neutral" rating to a "buy" rating and set a $135.00 price target for the company in a report on Monday, October 12th. Wells Fargo & Company lowered their price target on Allison Transmission from $137.00 to $120.00 and set an "equal weight" rating for the company in a report on Thursday, October 8th. Weiss Ratings raised Allison Transmission from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley raised their price target on Allison Transmission from $126.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Allison Transmission currently has a consensus rating of "Moderate Buy" and an average price target of $131.57.

Allison Transmission Stock Down 2.8%

NYSE:ALSN opened at $106.53 on Friday. Allison Transmission Holdings, Inc. has a twelve month low of $76.01 and a twelve month high of $137.62. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 0.56 and a beta of 0.98. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 2.07. The stock's 50 day moving average price is $119.71 and its two-hundred day moving average price is $119.81.

Allison Transmission (NYSE:ALSN - Get Free Report) last posted its quarterly earnings results 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. Allison Transmission had a net margin of 12.02% and a return on equity of 38.18%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The company's quarterly revenue was up 92.4% compared to the same quarter last year. Equities research analysts expect that Allison Transmission Holdings, Inc. will post 10.25 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $1.16 annualized dividend and a dividend yield of 1.1%. Allison Transmission's payout ratio is presently 18.44%.

Insider Activity

In related news, insider Eric 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 value of $131,250.00. Following the transaction, the insider owned 16,604 shares in the company, valued at approximately $2,075,500. This represents a 5.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David 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 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 approximately $40,534,973.71. This trade represents a 8.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company's stock.

Allison Transmission Company Profile

Allison Transmission, Inc designs and manufactures propulsion solutions for commercial, defense and off-highway vehicles. The company is best known for its fully automatic transmissions, which are used in applications including refuse collection, construction, distribution, emergency services, public transportation and mining.

Its product portfolio also includes electric and hybrid-electric propulsion systems, including the eGen Power electric axle and other electrification technologies.

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