NewEdge Wealth LLC Boosts Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

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 grew its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 6.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 509,912 shares of the auto parts company's stock after buying an additional 31,393 shares during the period. Allison Transmission accounts for 0.9% of NewEdge Wealth LLC's portfolio, making the stock its 20th biggest position. NewEdge Wealth LLC owned approximately 0.61% of Allison Transmission worth $48,783,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ALSN. Transce3nd LLC purchased a new stake in Allison Transmission in the fourth quarter worth $25,000. Vermillion Wealth Management Inc. purchased a new stake in Allison Transmission in the fourth quarter worth $31,000. SRH Advisors LLC grew its stake in Allison Transmission by 95.0% in the first quarter. SRH Advisors LLC now owns 468 shares of the auto parts company's stock worth $45,000 after purchasing 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 worth $48,000 after acquiring an additional 392 shares during 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 worth $61,000 after acquiring an additional 157 shares during the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Allison Transmission

In other Allison Transmission news, VP Ryan A. Milburn sold 3,412 shares of the 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 approximately $1,254,881.76. This represents a 22.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Allison Transmission Stock Down 2.6%

Allison Transmission stock opened at $87.72 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.37 and a current ratio of 3.05. The business's 50-day simple moving average is $95.03 and its two-hundred day simple moving average is $98.78. The company has a market cap of $7.39 billion, a PE ratio of 10.15 and a beta of 0.97. Allison Transmission Holdings, Inc. has a fifty-two week low of $78.71 and a fifty-two week high of $122.53.

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

Allison Transmission Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a dividend of $0.27 per share. The ex-dividend date was Monday, May 19th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Allison Transmission's dividend payout ratio is currently 12.50%.

Analyst Ratings Changes

Several research firms recently commented on ALSN. JPMorgan Chase & Co. dropped their price objective on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Wall Street Zen cut Allison Transmission from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Citigroup dropped 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. Bank of America increased their price objective on Allison Transmission from $74.00 to $79.00 and gave the company an "underperform" rating in a research report on Monday, June 16th. Finally, Robert W. Baird dropped their price objective on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $98.38.

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.

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