Allison Transmission Holdings, Inc. (NYSE:ALSN) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management grew its position in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 18.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,602 shares of the auto parts company's stock after acquiring an additional 3,818 shares during the period. Ritholtz Wealth Management's holdings in Allison Transmission were worth $2,354,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Transce3nd LLC purchased a new position in Allison Transmission during the fourth quarter valued at $25,000. Kestra Investment Management LLC purchased a new stake in shares of Allison Transmission during the fourth quarter worth about $30,000. Vermillion Wealth Management Inc. acquired a new position in shares of Allison Transmission during the 4th quarter worth about $31,000. Proficio Capital Partners LLC purchased a new position in Allison Transmission in the 4th quarter valued at about $42,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Allison Transmission by 363.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 500 shares of the auto parts company's stock worth $48,000 after buying an additional 392 shares during the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.

Allison Transmission Trading Down 1.4%

Allison Transmission stock traded down $1.33 during mid-day trading on Thursday, hitting $92.08. The company's stock had a trading volume of 882,837 shares, compared to its average volume of 660,470. Allison Transmission Holdings, Inc. has a 1 year low of $73.65 and a 1 year high of $122.53. The company has a current ratio of 3.05, a quick ratio of 2.37 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $7.76 billion, a PE ratio of 10.66 and a beta of 1.00. The stock's fifty day moving average is $97.86 and its two-hundred day moving average is $103.34.

Allison Transmission (NYSE:ALSN - Get Free Report) last posted its 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. Allison Transmission had a net margin of 23.55% and a return on equity of 46.97%. The company had revenue of $766.00 million for the quarter, compared to analysts' expectations of $792.18 million. During the same quarter in the prior year, the company posted $1.90 earnings per share. Allison Transmission's revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission declared that its board has approved a stock buyback program on Thursday, February 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the auto parts company to repurchase up to 57.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Allison Transmission Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.08 annualized dividend and a yield of 1.17%. Allison Transmission's dividend payout ratio (DPR) is presently 12.50%.

Insider Buying and Selling at Allison Transmission

In related news, VP Ryan A. Milburn sold 3,412 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $105.24, for a total transaction of $359,078.88. Following the sale, the vice president now directly owns 11,924 shares of the company's stock, valued at $1,254,881.76. This represents a 22.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Coll sold 1,788 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $95.33, for a total transaction of $170,450.04. Following the completion of the transaction, the senior vice president now directly owns 15,388 shares of the company's stock, valued at $1,466,938.04. This represents a 10.41% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen raised Allison Transmission from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Bank of America upped 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. Citigroup decreased their price target on shares of Allison Transmission from $108.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Raymond James Financial cut their price objective on shares of Allison Transmission from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their target price on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.