Prudential PLC Buys 23,580 Shares of Allison Transmission Holdings, Inc. $ALSN

Key Points

• Prudential PLC increased its stake in Allison Transmission Holdings by 112.8% in the first quarter, now owning 44,485 shares valued at approximately $4.26 million.
• Analysts have varying views on the stock, with price objectives ranging from $74.00 to $110.00, leading to a consensus rating of "Hold" and a target price of $98.38.
• Allison Transmission recently announced a quarterly dividend of $0.27, reflecting a 1.2% dividend yield and a payout ratio of 12.27%.

Prudential PLC lifted its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 112.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,485 shares of the auto parts company's stock after purchasing an additional 23,580 shares during the quarter. Prudential PLC owned 0.05% of Allison Transmission worth $4,256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALSN. Callan Family Office LLC boosted its stake in shares of Allison Transmission by 5.1% during the 1st quarter. Callan Family Office LLC now owns 2,606 shares of the auto parts company's stock worth $249,000 after acquiring an additional 126 shares during the period. Taylor Hoffman Capital Management LLC grew its holdings in shares of Allison Transmission by 3.0% during the 1st quarter. Taylor Hoffman Capital Management LLC now owns 51,087 shares of the auto parts company's stock worth $4,973,000 after purchasing an additional 1,496 shares in the last quarter. Public Sector Pension Investment Board bought a new position in shares of Allison Transmission in the first quarter worth $7,908,000. CCM Investment Group LLC acquired a new position in Allison Transmission in the first quarter valued at about $556,000. Finally, Invesco Ltd. increased its holdings in Allison Transmission by 6.8% in the 1st quarter. Invesco Ltd. now owns 1,262,619 shares of the auto parts company's stock valued at $120,795,000 after buying an additional 80,653 shares during the period. 96.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Ryan A. Milburn sold 3,412 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $105.24, for a total value of $359,078.88. Following the sale, the vice president directly owned 11,924 shares of the company's stock, 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 document filed with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Allison Transmission Stock Up 1.4%

Shares of ALSN traded up $1.20 during trading hours on Monday, hitting $88.20. The stock had a trading volume of 238,751 shares, compared to its average volume of 804,135. The firm has a market capitalization of $7.38 billion, a P/E ratio of 10.02 and a beta of 0.97. Allison Transmission Holdings, Inc. has a 1-year low of $80.39 and a 1-year high of $122.53. The firm has a 50 day simple moving average of $92.04 and a 200-day simple moving average of $96.54. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.36 and a quick ratio of 2.64.

Allison Transmission (NYSE:ALSN - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The auto parts company reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.09. Allison Transmission had a net margin of 23.81% and a return on equity of 45.56%. The firm had revenue of $814.00 million for the quarter, compared to analyst estimates of $811.05 million. During the same period last year, the firm earned $2.13 earnings per share. The business's quarterly revenue was down .2% compared to the same quarter last year. Sell-side analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 20th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $1.08 annualized dividend and a yield of 1.2%. Allison Transmission's dividend payout ratio (DPR) is currently 12.27%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Raymond James Financial lowered their price target on Allison Transmission from $110.00 to $105.00 and set an "outperform" rating for the company in a report on Monday, July 21st. Bank of America raised their price target on shares of Allison Transmission from $74.00 to $79.00 and gave the company an "underperform" rating in a research note on Monday, June 16th. Wall Street Zen downgraded shares of Allison Transmission from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Citigroup dropped their target price on Allison Transmission from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Tuesday, June 24th. Finally, Morgan Stanley upped their price target on shares of Allison Transmission from $94.00 to $100.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $98.38.

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.