Allison Transmission Holdings, Inc. $ALSN Stock: Assenagon Asset Management S.A. Reduces Position

Key Points

• Assenagon Asset Management cut its Allison Transmission position by 12.2% in the third quarter, selling 12,282 shares and retaining 88,207 shares worth about $9.99 million. Institutional investors still own 96.9% of the company.
• Allison reported quarterly earnings of $2.73 per share, beating estimates of $2.48, while revenue rose 92.4% year over year to $1.57 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $131.57.
• The company declared a quarterly dividend of $0.29 per share, equivalent to $1.16 annually and a 1.0% yield; the stock recently traded at $110.55, down 1.1%.

Assenagon Asset Management S.A. trimmed its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 12.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,207 shares of the auto parts company's stock after selling 12,282 shares during the period. Assenagon Asset Management S.A. owned 0.11% of Allison Transmission worth $9,990,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Allison Transmission during the second quarter valued at about $448,232,000. First Trust Advisors LP boosted its position in Allison Transmission by 85.2% during the first quarter. First Trust Advisors LP now owns 2,026,603 shares of the auto parts company's stock worth $237,234,000 after purchasing an additional 932,201 shares during the period. Wasatch Advisors LP increased its stake in shares of Allison Transmission by 105.7% in the second quarter. Wasatch Advisors LP now owns 1,510,496 shares of the auto parts company's stock worth $170,293,000 after purchasing an additional 776,169 shares in the last quarter. Stockbridge Partners LLC purchased a new position in Allison Transmission in the 2nd quarter valued at approximately $169,108,000. Finally, Bank of America Corp DE raised its stake in shares of Allison Transmission by 12.3% during the 1st quarter. Bank of America Corp DE now owns 1,100,162 shares of the auto parts company's stock valued at $128,785,000 after purchasing an additional 120,335 shares during the period. 96.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, CEO David S. 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 sale, the chief executive officer directly owned 304,843 shares in the company, valued at $40,534,973.71. This represents 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 hyperlink. Also, insider Eric C. 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 transaction of $131,250.00. Following the sale, the insider owned 16,604 shares of the company's stock, valued at approximately $2,075,500. The trade was a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

Allison Transmission Trading Down 1.1%

NYSE ALSN opened at $110.55 on Tuesday. 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 simple moving average is $120.92 and its two-hundred day simple moving average is $120.06. Allison Transmission Holdings, Inc. has a twelve month low of $76.01 and a twelve month high of $137.62. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.59 and a beta of 0.98.

Allison Transmission (NYSE:ALSN - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The auto parts company reported $2.73 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.25. The business had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.50 billion. Allison Transmission had a net margin of 12.02% and a return on equity of 38.18%. The business's quarterly revenue was up 92.4% on a year-over-year basis. During the same period last year, the business earned $2.29 earnings per share. Research analysts forecast that Allison Transmission Holdings, Inc. will post 10.25 EPS for the current fiscal year.

Allison Transmission Dividend Announcement

The firm 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 1.0%. Allison Transmission's dividend payout ratio (DPR) is currently 18.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Freedom Broker started coverage on Allison Transmission in a research note on Friday, October 2nd. They set a "buy" rating and a $144.00 price objective for the company. Citigroup upgraded Allison Transmission from a "neutral" rating to a "buy" rating and set a $135.00 target price on the stock in a research note on Monday, October 12th. Morgan Stanley raised 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. Weiss Ratings raised Allison Transmission from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. dropped their price target on Allison Transmission from $145.00 to $142.00 and set a "neutral" rating for the company in a research report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Allison Transmission has a consensus rating of "Moderate Buy" and an average price target of $131.57.

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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