Meeder Asset Management Inc. Takes $1.76 Million Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Key Points

• Meeder Asset Management Inc. acquired 18,340 shares of Allison Transmission Holdings, Inc. valued at approximately $1.755 million during the 1st quarter, according to its recent SEC filing.
• Recent analyst reports have led to target price adjustments for Allison Transmission, with ratings varying from "sell" to "buy," resulting in an average target price of $98.38 and a consensus rating of "Hold."
• The company announced a quarterly dividend of $0.27 per share, representing a yield of 1.23%, with a payout ratio currently at 12.50%.

Meeder Asset Management Inc. bought a new position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,340 shares of the auto parts company's stock, valued at approximately $1,755,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Transce3nd LLC acquired a new position in shares of Allison Transmission in the 4th quarter worth approximately $25,000. Vermillion Wealth Management Inc. acquired a new position in Allison Transmission during the fourth quarter worth $31,000. SRH Advisors LLC boosted its position in shares of 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 buying an additional 228 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Allison Transmission by 363.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 500 shares of the auto parts company's stock valued at $48,000 after buying an additional 392 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Allison Transmission by 32.8% in the first quarter. Private Trust Co. NA now owns 636 shares of the auto parts company's stock valued at $61,000 after buying an additional 157 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Allison Transmission Stock Down 2.3%

ALSN traded down $2.11 on Friday, reaching $87.96. The company's stock had a trading volume of 653,537 shares, compared to its average volume of 779,180. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 10.18 and a beta of 0.96. Allison Transmission Holdings, Inc. has a fifty-two week low of $78.71 and a fifty-two week high of $122.53. The company has a quick ratio of 2.37, a current ratio of 3.05 and a debt-to-equity ratio of 1.44. The stock has a 50 day moving average of $95.32 and a two-hundred day moving average of $99.10.

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

Allison Transmission Dividend Announcement

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

Analyst Ratings Changes

ALSN has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Allison Transmission from $94.00 to $100.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Wall Street Zen cut shares of Allison Transmission from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Raymond James Financial cut 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. Citigroup cut their price objective on Allison Transmission from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Finally, Robert W. Baird lowered their target price on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Allison Transmission has an average rating of "Hold" and an average target price of $98.38.

Insider Buying and Selling at Allison Transmission

In related news, VP Ryan A. Milburn sold 3,412 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $105.24, for a total transaction of $359,078.88. Following the transaction, the vice president owned 11,924 shares in the company, valued at $1,254,881.76. This trade represents a 22.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company's stock.

Allison Transmission 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.