Penserra Capital Management LLC Takes Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Penserra Capital Management LLC acquired a new stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,923 shares of the auto parts company's stock, valued at approximately $375,000.

A number of other institutional investors have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC grew its holdings in Allison Transmission by 45.4% during the first quarter. Concurrent Investment Advisors LLC now owns 5,556 shares of the auto parts company's stock valued at $532,000 after purchasing an additional 1,735 shares during the period. OneDigital Investment Advisors LLC lifted its stake in Allison Transmission by 25.9% in the first quarter. OneDigital Investment Advisors LLC now owns 3,320 shares of the auto parts company's stock valued at $318,000 after buying an additional 682 shares in the last quarter. Meritage Portfolio Management lifted its stake in Allison Transmission by 6.3% in the first quarter. Meritage Portfolio Management now owns 27,918 shares of the auto parts company's stock valued at $2,671,000 after buying an additional 1,664 shares in the last quarter. Cannon Global Investment Management LLC lifted its stake in Allison Transmission by 70.5% in the first quarter. Cannon Global Investment Management LLC now owns 10,400 shares of the auto parts company's stock valued at $995,000 after buying an additional 4,300 shares in the last quarter. Finally, Private Trust Co. NA lifted its stake in 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. Institutional investors and hedge funds own 96.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Raymond James Financial cut their price target on shares of Allison Transmission from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Robert W. Baird cut their price target on shares of Allison Transmission from $123.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Citigroup cut their price target on shares of Allison Transmission from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 24th. Morgan Stanley increased their target price on shares of Allison Transmission from $94.00 to $100.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Finally, Bank of America increased their target price on shares of Allison Transmission from $74.00 to $79.00 and gave the stock an "underperform" rating in a report on Monday, June 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $99.00.

Insider Buying and Selling at Allison Transmission

In other news, VP Ryan A. Milburn sold 3,412 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $105.24, for a total value of $359,078.88. Following the transaction, the vice president directly owned 11,924 shares of the company's stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Allison Transmission Stock Performance

ALSN stock traded down $3.76 during trading hours on Friday, reaching $91.75. The stock had a trading volume of 924,841 shares, compared to its average volume of 676,056. The stock has a market capitalization of $7.73 billion, a PE ratio of 10.62 and a beta of 0.96. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.05 and a quick ratio of 2.37. The stock has a 50-day simple moving average of $99.30 and a 200 day simple moving average of $101.07. Allison Transmission Holdings, Inc. has a fifty-two week low of $77.39 and a fifty-two week high of $122.53.

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

Allison Transmission Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, May 19th. Allison Transmission's payout ratio is presently 12.50%.

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.