Harvest Fund Management Co. Ltd Decreases Stake in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Key Points

• Harvest Fund Management Co. Ltd has significantly reduced its stake in Allison Transmission by 89.2%, now holding just 1,066 shares valued at approximately $102,000.
• Allison Transmission recently reported $2.23 earnings per share for the quarter, exceeding forecasts, although revenue declined by 2.9% year-over-year.
• The company has announced a $0.27 quarterly dividend with an annual yield of 1.2%, reflecting a payout ratio of 12.50%.

Harvest Fund Management Co. Ltd reduced its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 89.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,066 shares of the auto parts company's stock after selling 8,795 shares during the period. Harvest Fund Management Co. Ltd's holdings in Allison Transmission were worth $102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Transce3nd LLC purchased a new position in Allison Transmission during the fourth quarter worth about $25,000. Vermillion Wealth Management Inc. purchased a new position in Allison Transmission during the fourth quarter worth about $31,000. SRH Advisors LLC raised its stake in Allison Transmission by 95.0% during the first quarter. SRH Advisors LLC now owns 468 shares of the auto parts company's stock worth $45,000 after purchasing an additional 228 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Allison Transmission by 363.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 500 shares of the auto parts company's stock worth $48,000 after purchasing an additional 392 shares during the period. Finally, Private Trust Co. NA raised its stake in Allison Transmission by 32.8% during the first quarter. Private Trust Co. NA now owns 636 shares of the auto parts company's stock worth $61,000 after purchasing an additional 157 shares during the period. 96.90% of the stock is owned by hedge funds and other institutional investors.

Allison Transmission Trading Up 3.5%

Shares of ALSN stock opened at $90.07 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.37 and a current ratio of 3.05. The stock has a market capitalization of $7.59 billion, a P/E ratio of 10.42 and a beta of 0.96. The company has a 50 day moving average price of $95.32 and a 200 day moving average price of $99.10. Allison Transmission Holdings, Inc. has a fifty-two week low of $78.71 and a fifty-two week high of $122.53.

Allison Transmission (NYSE:ALSN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The auto parts company reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.97 by $0.26. The firm had revenue of $766.00 million during the quarter, compared to analysts' expectations of $792.18 million. Allison Transmission had a net margin of 23.55% and a return on equity of 46.97%. The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.90 earnings per share. Equities research analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $0.27 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Allison Transmission's payout ratio is 12.50%.

Insider Buying and Selling at Allison Transmission

In related news, VP Ryan A. Milburn sold 3,412 shares of Allison Transmission 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 completion of the transaction, the vice president owned 11,924 shares in the company, valued at approximately $1,254,881.76. The trade was a 22.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

ALSN has been the topic of a number of analyst reports. Citigroup reduced their target price on shares of Allison Transmission from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 24th. Morgan Stanley lifted their target price on shares of Allison Transmission from $94.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Wall Street Zen downgraded shares of Allison Transmission from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Raymond James Financial reduced their price target 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. Finally, Robert W. Baird reduced their price target on shares of Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Two investment 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $98.38.

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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