Kingsview Wealth Management LLC Sells 99,168 Shares of Allison Transmission Holdings, Inc. $ALSN

Key Points

• Kingsview Wealth Management sharply reduced its stake in Allison Transmission, selling 99,168 shares in the fourth quarter and cutting its position by 85.2% to 17,266 shares valued at about $1.69 million.
• Institutional ownership remains very high, with 96.9% of Allison Transmission shares held by institutions. Several firms increased positions, including Jane Street Group and Goldman Sachs, while Marshall Wace opened a new stake.
• Analysts are mixed but mostly cautious: the stock’s consensus rating is Hold with an average price target of $120.29, even as some firms recently raised targets and others downgraded ratings.

Kingsview Wealth Management LLC cut its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 85.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,266 shares of the auto parts company's stock after selling 99,168 shares during the quarter. Kingsview Wealth Management LLC's holdings in Allison Transmission were worth $1,690,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ALSN. Jane Street Group LLC boosted its position in Allison Transmission by 341.3% during the first quarter. Jane Street Group LLC now owns 288,674 shares of the auto parts company's stock valued at $27,617,000 after purchasing an additional 223,253 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Allison Transmission by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 214,907 shares of the auto parts company's stock valued at $20,560,000 after purchasing an additional 11,542 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Allison Transmission by 9.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,892 shares of the auto parts company's stock valued at $180,000 after purchasing an additional 165 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Allison Transmission by 441.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,018 shares of the auto parts company's stock valued at $97,000 after purchasing an additional 830 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Allison Transmission during the second quarter valued at approximately $6,111,000. 96.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Morgan Stanley increased their price target on Allison Transmission from $117.00 to $126.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 13th. Weiss Ratings cut Allison Transmission from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Citigroup increased their price target on Allison Transmission from $130.00 to $135.00 and gave the company a "neutral" rating in a research report on Monday, April 13th. Wells Fargo & Company increased their price target on Allison Transmission from $127.00 to $137.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Finally, Zacks Research cut Allison Transmission from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Allison Transmission presently has a consensus rating of "Hold" and an average target price of $120.29.

Allison Transmission Price Performance

NYSE:ALSN opened at $113.56 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.85 and a debt-to-equity ratio of 2.23. The stock's 50 day moving average price is $121.15 and its two-hundred day moving average price is $110.49. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 0.61 and a beta of 0.94. Allison Transmission Holdings, Inc. has a 12-month low of $76.01 and a 12-month high of $137.62.

Allison Transmission (NYSE:ALSN - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The auto parts company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.47. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.38 billion. Allison Transmission had a return on equity of 37.50% and a net margin of 14.88%.The business's revenue for the quarter was up 83.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.23 earnings per share. On average, analysts anticipate that Allison Transmission Holdings, Inc. will post 9.96 earnings per share for the current year.

Allison Transmission Announces Dividend

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

Insider Activity at Allison Transmission

In related news, insider Eric C. Scroggins sold 1,313 shares of Allison Transmission stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $114.40, for a total transaction of $150,207.20. Following the completion of the sale, the insider directly owned 17,654 shares of the company's stock, valued at approximately $2,019,617.60. This trade represents a 6.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Scott A. Mell sold 2,270 shares of Allison Transmission stock in a transaction that occurred 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 sale, the chief financial officer directly owned 1,053 shares of the company's stock, valued at approximately $131,625. The trade was a 68.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company's stock.

Allison Transmission 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.

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