Allison Transmission Holdings, Inc. $ALSN Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its Allison Transmission stake by 12.3% in the first quarter, adding 120,335 shares to own 1.10 million shares valued at approximately $128.8 million. Institutional investors collectively hold 96.9% of ALSN’s outstanding stock.
• Allison reported quarterly EPS of $2.73, exceeding estimates of $2.48, while revenue reached $1.57 billion and rose 92.4% year over year.
• ALSN shares opened at $116.28, down 1.6%, while analysts maintained a broadly neutral outlook: the consensus rating is “Hold” with an average price target of $131.17.

Bank of America Corp DE raised its position in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 12.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,100,162 shares of the auto parts company's stock after acquiring an additional 120,335 shares during the quarter. Bank of America Corp DE owned 1.33% of Allison Transmission worth $128,785,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Edgestream Partners L.P. grew its holdings in Allison Transmission by 18.9% during the 1st quarter. Edgestream Partners L.P. now owns 30,042 shares of the auto parts company's stock valued at $3,517,000 after purchasing an additional 4,769 shares in the last quarter. Janus Henderson Group PLC increased its stake in Allison Transmission by 32.7% during the 1st quarter. Janus Henderson Group PLC now owns 491,105 shares of the auto parts company's stock worth $57,530,000 after buying an additional 121,129 shares during the period. Bull Harbor Capital LLC purchased a new stake in Allison Transmission during the 1st quarter worth $297,000. EverSource Wealth Advisors LLC lifted its holdings in Allison Transmission by 62.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,190 shares of the auto parts company's stock worth $139,000 after buying an additional 458 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Allison Transmission by 22.9% in the 1st quarter. California State Teachers Retirement System now owns 97,486 shares of the auto parts company's stock worth $11,412,000 after buying an additional 18,181 shares in the last quarter. Institutional investors and hedge funds own 96.90% of the company's stock.

Allison Transmission Stock Down 1.6%

ALSN stock opened at $116.28 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.81 and a quick ratio of 1.18. Allison Transmission Holdings, Inc. has a 1-year low of $76.01 and a 1-year high of $137.62. The firm has a fifty day moving average price of $117.01 and a two-hundred day moving average price of $118.13. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 0.64 and a beta of 0.95.

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 analysts' consensus estimates of $2.48 by $0.25. Allison Transmission had a net margin of 12.02% and a return on equity of 38.18%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm posted $2.29 EPS. The company's revenue for the quarter was up 92.4% on a year-over-year basis. Research analysts predict that Allison Transmission Holdings, Inc. will post 9.78 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on ALSN shares. Wells Fargo & Company raised their target price on Allison Transmission from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Weiss Ratings cut Allison Transmission from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 16th. Morgan Stanley increased their price target on Allison Transmission from $126.00 to $130.00 and gave the company an "equal weight" rating in a report on Friday, July 17th. JPMorgan Chase & Co. raised their price objective on Allison Transmission from $140.00 to $145.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Finally, Citigroup dropped their price objective on Allison Transmission from $135.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $131.17.

Allison Transmission Company 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.

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