Allison Transmission Holdings, Inc. $ALSN Shares Bought by Millennium Management LLC

Key Points

• Millennium Management LLC increased its stake in Allison Transmission Holdings by 97.6%, acquiring an additional 182,799 shares, bringing their total ownership to approximately 0.44% valued at $35.4 million.
• Allison Transmission reported $2.29 earnings per share, exceeding estimates, with a revenue of $814 million for the quarter, although down 0.2% compared to last year.
• The company recently announced a $0.27 quarterly dividend, resulting in an annualized dividend yield of 1.2% and a payout ratio of 12.27%.

Millennium Management LLC increased its position in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 97.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,050 shares of the auto parts company's stock after purchasing an additional 182,799 shares during the period. Millennium Management LLC owned approximately 0.44% of Allison Transmission worth $35,403,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ALSN. Caisse DE Depot ET Placement DU Quebec lifted its stake in Allison Transmission by 109.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 929,434 shares of the auto parts company's stock valued at $88,919,000 after acquiring an additional 484,916 shares during the period. Jane Street Group LLC increased its holdings in Allison Transmission by 341.3% in the 1st quarter. Jane Street Group LLC now owns 288,674 shares of the auto parts company's stock worth $27,617,000 after acquiring an additional 223,253 shares in the last quarter. Federated Hermes Inc. increased its holdings in Allison Transmission by 19.0% in the 1st quarter. Federated Hermes Inc. now owns 1,138,259 shares of the auto parts company's stock worth $108,897,000 after acquiring an additional 181,568 shares in the last quarter. GAMMA Investing LLC increased its holdings in Allison Transmission by 10,402.1% in the 1st quarter. GAMMA Investing LLC now owns 148,289 shares of the auto parts company's stock worth $14,187,000 after acquiring an additional 146,877 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Allison Transmission by 26.4% in the 1st quarter. Jennison Associates LLC now owns 640,217 shares of the auto parts company's stock worth $61,250,000 after acquiring an additional 133,635 shares in the last quarter. Institutional investors own 96.90% of the company's stock.

Allison Transmission Stock Down 2.4%

Shares of ALSN stock traded down $2.14 during trading hours on Friday, reaching $88.36. 587,907 shares of the company's stock were exchanged, compared to its average volume of 861,693. Allison Transmission Holdings, Inc. has a 1 year low of $80.39 and a 1 year high of $122.53. The stock has a market cap of $7.39 billion, a PE ratio of 10.04 and a beta of 1.02. The company has a current ratio of 3.36, a quick ratio of 2.64 and a debt-to-equity ratio of 1.37. The stock's fifty day moving average price is $88.96 and its two-hundred day moving average price is $93.99.

Allison Transmission (NYSE:ALSN - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The auto parts company reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.09. Allison Transmission had a return on equity of 45.56% and a net margin of 23.81%.The business had revenue of $814.00 million for the quarter, compared to analyst estimates of $811.05 million. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The company's revenue was down .2% on a year-over-year basis. Allison Transmission has set its FY 2025 guidance at EPS. Research analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Wednesday, August 20th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Allison Transmission's payout ratio is 12.27%.

Analyst Upgrades and Downgrades

ALSN has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Allison Transmission from $80.00 to $90.00 and gave the company a "sell" rating in a report on Tuesday, May 27th. Wall Street Zen lowered shares of Allison Transmission from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Bank of America raised their target price on shares of Allison Transmission from $74.00 to $79.00 and gave the company an "underperform" rating in a report on Monday, June 16th. Raymond James Financial lowered their price target on Allison Transmission from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, July 21st. Finally, Zacks Research downgraded Allison Transmission from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target 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.