Fifth Third Bancorp Has $4.29 Million Stake in Allison Transmission Holdings, Inc. $ALSN

Key Points

• Fifth Third Bancorp dramatically increased its stake in Allison Transmission during the first quarter, ending with 36,648 shares worth about $4.29 million after a massive 48,764% increase.
• Allison Transmission reported strong quarterly earnings, with EPS of $2.57 beating estimates and revenue of $1.41 billion topping forecasts; revenue also jumped 83.6% year over year.
• Analyst sentiment remains cautious: the stock has a Hold consensus rating with an average price target of $131.17, while insider activity included CFO Scott A. Mell selling 2,270 shares.

Fifth Third Bancorp grew its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 48,764.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 36,648 shares of the auto parts company's stock after purchasing an additional 36,573 shares during the period. Fifth Third Bancorp's holdings in Allison Transmission were worth $4,290,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Inscription Capital LLC grew its holdings in Allison Transmission by 0.7% during the fourth quarter. Inscription Capital LLC now owns 14,337 shares of the auto parts company's stock worth $1,404,000 after buying an additional 95 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Allison Transmission by 16.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 732 shares of the auto parts company's stock valued at $72,000 after purchasing an additional 105 shares during the last quarter. Villanova Investment Management Co LLC raised its holdings in shares of Allison Transmission by 0.4% in the fourth quarter. Villanova Investment Management Co LLC now owns 26,089 shares of the auto parts company's stock valued at $2,554,000 after purchasing an additional 106 shares during the last quarter. Xponance LLC lifted its position in shares of Allison Transmission by 2.0% during the fourth quarter. Xponance LLC now owns 5,535 shares of the auto parts company's stock valued at $542,000 after purchasing an additional 107 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its position in shares of Allison Transmission by 4.6% during the fourth quarter. Kathmere Capital Management LLC now owns 2,643 shares of the auto parts company's stock valued at $259,000 after purchasing an additional 116 shares in the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Allison Transmission

In other Allison Transmission news, CFO Scott A. Mell sold 2,270 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.00, for a total value of $283,750.00. Following the completion of the sale, the chief financial officer directly owned 1,053 shares of the company's stock, valued at $131,625. This trade represents a 68.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of Allison Transmission from $126.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Friday. Zacks Research downgraded Allison Transmission from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 24th. Citigroup reduced their target price on Allison Transmission from $135.00 to $125.00 and set a "neutral" rating for the company in a report on Tuesday, July 14th. JPMorgan Chase & Co. increased their price target on Allison Transmission from $140.00 to $145.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Finally, Weiss Ratings lowered Allison Transmission from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $131.17.

Allison Transmission Stock Down 1.8%

ALSN opened at $113.43 on Friday. Allison Transmission Holdings, Inc. has a twelve month low of $76.01 and a twelve month high of $137.62. The company's 50-day moving average price is $116.08 and its two-hundred day moving average price is $116.52. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 0.62 and a beta of 0.95. The company has a quick ratio of 1.18, a current ratio of 1.85 and a debt-to-equity ratio of 2.23.

Allison Transmission (NYSE:ALSN - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The auto parts company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.47. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. Allison Transmission had a net margin of 14.88% and a return on equity of 37.50%. Allison Transmission's quarterly revenue was up 83.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.23 EPS. As a group, equities analysts expect that Allison Transmission Holdings, Inc. will post 9.91 earnings per share for the current year.

Allison Transmission Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Allison Transmission's dividend payout ratio is 18.04%.

About Allison Transmission

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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