Envestnet Asset Management Inc. Trims Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Envestnet Asset Management Inc. lowered its position in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 11.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 215,684 shares of the auto parts company's stock after selling 27,340 shares during the period. Envestnet Asset Management Inc. owned about 0.25% of Allison Transmission worth $20,634,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ALSN. Transce3nd LLC purchased a new position in shares of Allison Transmission in the fourth quarter worth approximately $25,000. Vermillion Wealth Management Inc. purchased a new stake in Allison Transmission in the 4th quarter worth approximately $31,000. Proficio Capital Partners LLC bought a new stake in Allison Transmission during the 4th quarter worth approximately $42,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Allison Transmission by 363.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 500 shares of the auto parts company's stock valued at $48,000 after purchasing an additional 392 shares in the last quarter. Finally, Whittier Trust Co. purchased a new stake in shares of Allison Transmission in the fourth quarter worth $61,000. Hedge funds and other institutional investors own 96.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Raymond James Financial dropped their target price on shares of Allison Transmission from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Bank of America increased their target price on Allison Transmission from $74.00 to $79.00 and gave the stock an "underperform" rating in a research report on Monday, June 16th. The Goldman Sachs Group lifted their target price on Allison Transmission from $80.00 to $90.00 and gave the company a "sell" rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. dropped their price target on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen cut shares of Allison Transmission from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $99.00.

Allison Transmission Price Performance

ALSN traded down $1.92 during trading hours on Friday, hitting $87.00. The company's stock had a trading volume of 1,280,650 shares, compared to its average volume of 680,597. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 10.07 and a beta of 0.96. The business's 50-day moving average price is $98.63 and its 200-day moving average price is $100.59. The company has a current ratio of 3.05, a quick ratio of 2.37 and a debt-to-equity ratio of 1.44. Allison Transmission Holdings, Inc. has a 12 month low of $78.71 and a 12 month high of $122.53.

Allison Transmission (NYSE:ALSN - Get Free Report) last posted its earnings results on Thursday, May 1st. The auto parts company reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.97 by $0.26. The firm had revenue of $766.00 million for the quarter, compared to the consensus estimate of $792.18 million. Allison Transmission had a net margin of 23.55% and a return on equity of 46.97%. The business's quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 EPS. Sell-side analysts expect that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Monday, May 19th. Allison Transmission's dividend payout ratio (DPR) is 12.50%.

Insider Buying and Selling at Allison Transmission

In related news, VP Ryan A. Milburn sold 3,412 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $105.24, for a total value of $359,078.88. Following the completion of the sale, the vice president directly owned 11,924 shares in the company, valued at $1,254,881.76. This trade represents a 22.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company's stock.

About Allison Transmission

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.