Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Purchased by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its stake in Allison Transmission Holdings by 6.6% during Q1, holding 509,912 shares valued at approximately $48.8 million, making it the 20th largest position in their portfolio.
• Several hedge funds, including SRH Advisors LLC and MassMutual Private Wealth & Trust FSB, significantly raised their positions in Allison Transmission during the first quarter, indicating increased institutional interest.
• Allison Transmission's stock is currently trading at approximately $87.72, down 2.6%, with a market cap of $7.39 billion and an annual dividend yield of 1.2% after a recent dividend declaration of $0.27 per share.

NewEdge Wealth LLC boosted its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 6.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 509,912 shares of the auto parts company's stock after purchasing an additional 31,393 shares during the period. Allison Transmission accounts for approximately 0.9% of NewEdge Wealth LLC's holdings, making the stock its 20th largest holding. NewEdge Wealth LLC owned approximately 0.61% of Allison Transmission worth $48,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Allison Transmission by 4,877.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 444,518 shares of the auto parts company's stock valued at $48,035,000 after purchasing an additional 435,587 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Allison Transmission during the 4th quarter valued at about $41,081,000. FMR LLC boosted its stake in Allison Transmission by 1.9% during the 4th quarter. FMR LLC now owns 12,993,015 shares of the auto parts company's stock valued at $1,404,025,000 after purchasing an additional 247,318 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Allison Transmission by 19.0% during the 1st quarter. Federated Hermes Inc. now owns 1,138,259 shares of the auto parts company's stock worth $108,897,000 after buying an additional 181,568 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Allison Transmission by 10,402.1% during the 1st quarter. GAMMA Investing LLC now owns 148,289 shares of the auto parts company's stock worth $14,187,000 after buying an additional 146,877 shares in the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

Allison Transmission Stock Down 0.3%

Shares of NYSE:ALSN traded down $0.25 during trading on Thursday, hitting $88.03. 159,153 shares of the company's stock traded hands, compared to its average volume of 795,858. The company has a 50-day moving average price of $94.06 and a 200-day moving average price of $98.28. Allison Transmission Holdings, Inc. has a 52 week low of $80.39 and a 52 week high of $122.53. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 9.99 and a beta of 0.97. The company has a current ratio of 3.05, a quick ratio of 2.37 and a debt-to-equity ratio of 1.44.

Allison Transmission (NYSE:ALSN - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The auto parts company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.09. Allison Transmission had a return on equity of 46.30% 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 period last year, the firm posted $2.13 earnings per share. Allison Transmission's revenue was down .2% compared to the same quarter last year. As a group, research analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Analysts Set New Price Targets

ALSN has been the topic of several recent analyst reports. Robert W. Baird cut their target price on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley upped their target price on shares of Allison Transmission from $94.00 to $100.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Citigroup decreased 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 report on Tuesday, June 24th. Wall Street Zen downgraded shares of Allison Transmission from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, Bank of America increased their target price on shares of Allison Transmission from $74.00 to $79.00 and gave the company an "underperform" rating in a research report on Monday, June 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $98.38.

Insider Activity at Allison Transmission

In other 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 value of $359,078.88. Following the completion of 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 document filed with the SEC, which is available through this hyperlink. Company 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.