CCM Investment Group LLC Takes Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Key Points

• CCM Investment Group LLC has acquired a new stake in Allison Transmission Holdings, purchasing 5,789 shares valued at approximately $556,000 during the first quarter.
• Several institutional investors are increasing their positions in Allison Transmission, with Fuller & Thaler Asset Management and others boosting holdings significantly, resulting in institutional investors owning 96.90% of the stock.
• Analyst ratings have varied, with Citigroup reducing its price target from $105 to $100, while Goldman Sachs raised it from $80 to $90, indicating mixed sentiments among financial analysts regarding the stock's performance.

CCM Investment Group LLC bought a new stake in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,789 shares of the auto parts company's stock, valued at approximately $556,000.

Several other institutional investors have also modified their holdings of the stock. Fuller & Thaler Asset Management Inc. boosted its position in Allison Transmission by 3.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,652,996 shares of the auto parts company's stock worth $286,683,000 after acquiring an additional 76,840 shares during the last quarter. Invesco Ltd. boosted its position in Allison Transmission by 6.8% during the first quarter. Invesco Ltd. now owns 1,262,619 shares of the auto parts company's stock worth $120,795,000 after acquiring an additional 80,653 shares during the last quarter. Federated Hermes Inc. boosted its position in Allison Transmission by 19.0% during the first quarter. Federated Hermes Inc. now owns 1,138,259 shares of the auto parts company's stock worth $108,897,000 after acquiring an additional 181,568 shares during the last quarter. Jennison Associates LLC boosted its position in Allison Transmission by 26.4% during the first quarter. Jennison Associates LLC now owns 640,217 shares of the auto parts company's stock worth $61,250,000 after acquiring an additional 133,635 shares during the last quarter. Finally, NewEdge Wealth LLC boosted its position in Allison Transmission by 6.6% during the first quarter. NewEdge Wealth LLC now owns 509,912 shares of the auto parts company's stock worth $48,783,000 after acquiring an additional 31,393 shares during the last quarter. Institutional investors and hedge funds own 96.90% of the company's stock.

Analyst Ratings Changes

ALSN has been the topic of a number of recent research reports. Citigroup lowered their price target on shares of Allison Transmission from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. The Goldman Sachs Group lifted their target price on shares of Allison Transmission from $80.00 to $90.00 and gave the stock a "sell" rating in a research note on Tuesday, May 27th. Raymond James Financial reduced their target price on shares of Allison Transmission from $110.00 to $105.00 and set an "outperform" rating on the stock in a research note on Monday, July 21st. Bank of America lifted their target price on shares of Allison Transmission from $74.00 to $79.00 and gave the stock an "underperform" rating in a research note on Monday, June 16th. Finally, Wall Street Zen downgraded shares of Allison Transmission from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Two 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $98.38.

Insider Activity

In other news, VP Ryan A. Milburn sold 3,412 shares of the business'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 approximately $1,254,881.76. The trade was a 22.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company's stock.

Allison Transmission Price Performance

Allison Transmission stock opened at $87.73 on Monday. The company's 50 day simple moving average is $93.40 and its 200-day simple moving average is $97.52. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 9.97 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 company has a debt-to-equity ratio of 1.37, a quick ratio of 2.64 and a current ratio of 3.36.

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

Allison Transmission Company Profile

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.

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