Bank of New York Mellon Corp purchased a new position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 482,257 shares of the auto parts company's stock, valued at approximately $54,370,000. Bank of New York Mellon Corp owned approximately 0.58% of Allison Transmission at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. State of Wyoming purchased a new stake in Allison Transmission in the second quarter worth about $72,000. GSA Capital Partners LLP bought a new stake in shares of Allison Transmission in the 2nd quarter valued at about $760,000. Wedge Capital Management L L P NC raised its holdings in shares of Allison Transmission by 7.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 146,537 shares of the auto parts company's stock valued at $16,521,000 after purchasing an additional 10,725 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Allison Transmission by 105.7% in the 2nd 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 during the period. Finally, Dudley & Shanley Inc. lifted its position in shares of Allison Transmission by 0.3% in the 2nd quarter. Dudley & Shanley Inc. now owns 165,037 shares of the auto parts company's stock worth $18,606,000 after purchasing an additional 440 shares during the period. Hedge funds and other institutional investors own 96.90% of the company's stock.
Insiders Place Their Bets
In other news, CEO David S. Graziosi sold 26,708 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $132.97, for a total value of $3,551,362.76. Following the sale, the chief executive officer directly owned 304,843 shares of the company's stock, valued at $40,534,973.71. This represents a 8.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric C. Scroggins sold 1,050 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $125.00, for a total transaction of $131,250.00. Following the completion of the sale, the insider owned 16,604 shares in the company, valued at $2,075,500. The trade was a 5.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company's stock.
Allison Transmission Stock Performance
ALSN opened at $128.73 on Thursday. The company has a market cap of $10.63 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 0.71 and a beta of 0.95. 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 firm's 50-day moving average price is $119.78 and its 200-day moving average price is $119.67. Allison Transmission Holdings, Inc. has a 52-week low of $76.01 and a 52-week high of $137.62.
Allison Transmission (NYSE:ALSN - Get Free Report) last released its earnings results on Monday, August 3rd. The auto parts company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.25. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.50 billion. Allison Transmission had a net margin of 12.02% and a return on equity of 38.18%. Allison Transmission's revenue was up 92.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 EPS. As a group, equities analysts anticipate that Allison Transmission Holdings, Inc. will post 9.94 EPS for the current fiscal year.
Allison Transmission Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 21st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 21st. Allison Transmission's dividend payout ratio is presently 18.44%.
Analysts Set New Price Targets
ALSN has been the topic of several research reports. Wells Fargo & Company lifted their price objective on shares of Allison Transmission from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Morgan Stanley lifted 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 research report on Tuesday, August 11th. Citigroup cut their target price on Allison Transmission from $135.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. lifted their target price on Allison Transmission from $140.00 to $145.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Allison Transmission has a consensus rating of "Moderate Buy" and an average price target of $131.17.
Check Out Our Latest Stock Analysis on ALSN
About Allison Transmission
(
Free Report)
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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