Royal Bank of Canada Sells 38,591 Shares of Allison Transmission Holdings, Inc. $ALSN

Key Points

• Royal Bank of Canada reduced its Allison Transmission stake by 30.5%, selling 38,591 shares and retaining 87,878 shares valued at approximately $10.3 million. Institutional investors collectively own 96.9% of the company.
• Analysts remain generally cautious, with the stock holding an average “Hold” rating and an average price target of $131.17. Recent target prices range from $125 to $145.
• Allison Transmission reported stronger-than-expected quarterly results, with EPS of $2.73 versus estimates of $2.48 and revenue of $1.57 billion versus $1.50 billion expected. The stock opened at $118.80, up 2.2%.

Royal Bank of Canada cut its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 30.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,878 shares of the auto parts company's stock after selling 38,591 shares during the period. Royal Bank of Canada owned about 0.11% of Allison Transmission worth $10,286,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in Allison Transmission during the 1st quarter valued at about $26,000. Cedar Mountain Advisors LLC bought a new position in Allison Transmission in the 1st quarter worth about $27,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Allison Transmission during the first quarter worth approximately $28,000. Larson Financial Group LLC increased its position in shares of Allison Transmission by 536.7% during the fourth quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company's stock worth $31,000 after acquiring an additional 263 shares during the period. Finally, Transamerica Financial Advisors LLC raised its stake in shares of Allison Transmission by 2,112.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company's stock valued at $35,000 after acquiring an additional 338 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on ALSN shares. JPMorgan Chase & Co. increased their price objective on Allison Transmission from $140.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Wells Fargo & Company upped their target price on Allison Transmission from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. Citigroup dropped their price target on Allison Transmission from $135.00 to $125.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 14th. Morgan Stanley raised their price target on Allison Transmission from $126.00 to $130.00 and gave the company an "equal weight" rating in a research note on Friday, July 17th. Finally, Weiss Ratings downgraded Allison Transmission from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $131.17.

Allison Transmission Stock Up 2.2%

Allison Transmission stock opened at $118.80 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.81 and a debt-to-equity ratio of 2.07. The firm has a market cap of $9.81 billion, a P/E ratio of 18.89, a P/E/G ratio of 0.65 and a beta of 0.95. The business has a fifty day moving average of $117.12 and a two-hundred day moving average of $118.13. Allison Transmission Holdings, Inc. has a twelve month low of $76.01 and a twelve month high of $137.62.

Allison Transmission (NYSE:ALSN - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The auto parts company reported $2.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.48 by $0.25. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.50 billion. Allison Transmission had a return on equity of 38.18% and a net margin of 12.02%.The business's revenue was up 92.4% compared to the same quarter last year. During the same period last year, the business posted $2.29 EPS. On average, analysts forecast that Allison Transmission Holdings, Inc. will post 9.76 earnings per share for the current fiscal year.

Allison Transmission Profile

Allison Transmission Holdings Inc is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company's products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison's core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.

In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.

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