Danske Bank A S Buys Shares of 71,954 Allison Transmission Holdings, Inc. $ALSN

Key Points

• Danske Bank acquired 71,954 shares of Allison Transmission in the second quarter, valued at approximately $8.1 million, while institutional investors collectively own 96.9% of the company.
• Allison reported quarterly EPS of $2.73, exceeding the $2.48 consensus estimate, while revenue rose 92.4% year over year to $1.57 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $131.17; the company also declared a $0.29 quarterly dividend, yielding about 0.9% annually.

Danske Bank A S bought a new position in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 71,954 shares of the auto parts company's stock, valued at approximately $8,112,000. Danske Bank A S owned about 0.09% of Allison Transmission as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Millstone Evans Group LLC acquired a new position in Allison Transmission in the 1st quarter valued at about $26,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Allison Transmission during the 1st quarter valued at approximately $27,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Allison Transmission during the 1st quarter valued at approximately $28,000. Larson Financial Group LLC lifted its holdings in Allison Transmission by 536.7% in the fourth quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company's stock valued at $31,000 after acquiring an additional 263 shares during the last quarter. Finally, Transamerica Financial Advisors LLC lifted its holdings in Allison Transmission by 2,112.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company's stock valued at $35,000 after acquiring an additional 338 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company's stock.

Insider Transactions at Allison Transmission

In related news, insider Eric C. Scroggins sold 1,050 shares of the business's 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 transaction, the insider directly owned 16,604 shares of the company's stock, valued at $2,075,500. The trade was a 5.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings raised Allison Transmission from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Morgan Stanley boosted their price objective on shares of Allison Transmission from $126.00 to $130.00 and gave the company an "equal weight" rating in a report on Friday, July 17th. Wells Fargo & Company increased their target price on shares of Allison Transmission from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. Citigroup dropped their price target on shares of Allison Transmission from $135.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Allison Transmission from $140.00 to $145.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. One investment 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 stock. Based on data from MarketBeat, Allison Transmission has an average rating of "Moderate Buy" and an average target price of $131.17.

Allison Transmission Stock Performance

NYSE ALSN opened at $133.41 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.81 and a quick ratio of 1.17. The company has a market cap of $11.02 billion, a P/E ratio of 21.21, a P/E/G ratio of 0.69 and a beta of 0.95. The stock has a 50-day moving average of $119.13 and a two-hundred day moving average of $119.24. Allison Transmission Holdings, Inc. has a 1-year low of $76.01 and a 1-year high of $137.62.

Allison Transmission (NYSE:ALSN - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The auto parts company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.25. Allison Transmission had a net margin of 12.02% and a return on equity of 38.18%. The business had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the prior year, the company earned $2.29 earnings per share. The business's quarterly revenue was up 92.4% on a year-over-year basis. As a group, analysts anticipate that Allison Transmission Holdings, Inc. will post 9.94 EPS for the current year.

Allison Transmission Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 21st. Allison Transmission's dividend payout ratio (DPR) is presently 18.44%.

Allison Transmission Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source