Millennium Management LLC Acquires 182,799 Shares of Allison Transmission Holdings, Inc. $ALSN

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. boosted its holdings in Allison Transmission by 86.0% during the first quarter. Alliancebernstein L.P. now owns 269,658 shares of the auto parts company's stock worth $25,798,000 after buying an additional 124,707 shares during the last quarter. Banque Transatlantique SA bought a new position in Allison Transmission during the first quarter worth about $201,000. AQR Capital Management LLC boosted its holdings in Allison Transmission by 4.3% during the first quarter. AQR Capital Management LLC now owns 1,610,913 shares of the auto parts company's stock worth $151,281,000 after buying an additional 65,826 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Allison Transmission by 19.6% during the first quarter. Advisors Asset Management Inc. now owns 3,818 shares of the auto parts company's stock worth $365,000 after buying an additional 626 shares during the last quarter. Finally, Perbak Capital Partners LLP acquired a new stake in shares of Allison Transmission during the first quarter worth about $261,000. Institutional investors own 96.90% of the company's stock.

Analyst Upgrades and Downgrades

ALSN has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on Allison Transmission from $80.00 to $90.00 and gave the stock a "sell" rating in a research report on Tuesday, May 27th. Zacks Research lowered Allison Transmission from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 19th. Raymond James Financial dropped their price target on Allison Transmission from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday, July 21st. Wall Street Zen lowered Allison Transmission from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Citigroup dropped their price target 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. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Allison Transmission presently has an average rating of "Reduce" and an average target price of $98.38.

Allison Transmission Stock Down 0.1%

Allison Transmission stock traded down $0.09 during midday trading on Tuesday, reaching $87.64. The stock had a trading volume of 962,574 shares, compared to its average volume of 824,072. The firm's fifty day simple moving average is $88.67 and its 200-day simple moving average is $93.80. 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 capitalization of $7.33 billion, a P/E ratio of 9.96 and a beta of 1.02. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.64 and a current ratio of 3.36.

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

Allison Transmission Announces Dividend

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

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.