6,080 Shares in Allison Transmission Holdings, Inc. (NYSE:ALSN) Purchased by Sierra Summit Advisors LLC

Key Points

• Sierra Summit Advisors LLC purchased a new stake of 6,080 shares in Allison Transmission Holdings, Inc. during Q1, valued at about $582,000.
• Insider Ryan A. Milburn sold 3,412 shares at an average price of $105.24, indicating a 22.25% decrease in his position.
• Analysts have mixed ratings on Allison Transmission, with price targets ranging from $74 to $123, reflecting a consensus rating of "Hold."

Sierra Summit Advisors LLC acquired a new stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,080 shares of the auto parts company's stock, valued at approximately $582,000.

Several other hedge funds have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Allison Transmission by 4,877.2% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 444,518 shares of the auto parts company's stock worth $48,035,000 after acquiring an additional 435,587 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Allison Transmission in the fourth quarter worth $41,081,000. Federated Hermes Inc. increased its stake in shares of Allison Transmission by 19.0% in the first quarter. Federated Hermes Inc. now owns 1,138,259 shares of the auto parts company's stock worth $108,897,000 after acquiring an additional 181,568 shares during the period. GAMMA Investing LLC increased its stake in shares of Allison Transmission by 10,402.1% in the first quarter. GAMMA Investing LLC now owns 148,289 shares of the auto parts company's stock worth $14,187,000 after acquiring an additional 146,877 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Allison Transmission by 26.4% in the first quarter. Jennison Associates LLC now owns 640,217 shares of the auto parts company's stock worth $61,250,000 after acquiring an additional 133,635 shares during the period. 96.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup cut their price objective 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. Bank of America raised their price target 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. Wall Street Zen lowered shares of Allison Transmission from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Raymond James Financial dropped their price target on shares of Allison Transmission from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday, July 21st. Finally, Morgan Stanley raised their price target 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $98.38.

Insiders Place Their Bets

In related news, VP Ryan A. Milburn sold 3,412 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $105.24, for a total transaction of $359,078.88. Following the transaction, the vice president directly owned 11,924 shares in the company, valued at approximately $1,254,881.76. The trade was a 22.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

Allison Transmission Price Performance

Shares of NYSE ALSN traded down $1.73 during trading on Thursday, hitting $88.97. The company had a trading volume of 874,142 shares, compared to its average volume of 1,139,098. The stock has a fifty day simple moving average of $92.37 and a two-hundred day simple moving average of $97.03. Allison Transmission Holdings, Inc. has a fifty-two week low of $80.39 and a fifty-two week high of $122.53. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 10.11 and a beta of 0.97. The company has a quick ratio of 2.64, a current ratio of 3.36 and a debt-to-equity ratio of 1.37.

Allison Transmission (NYSE:ALSN - Get Free Report) last announced its earnings results on Monday, August 4th. The auto parts company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.09. Allison Transmission had a net margin of 23.81% and a return on equity of 45.56%. The business had revenue of $814.00 million for the quarter, compared to analyst estimates of $811.05 million. During the same quarter last year, the business earned $2.13 earnings per share. The company's revenue for the quarter was down .2% compared to the same quarter last year. On average, research analysts expect that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current year.

Allison Transmission Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Wednesday, August 20th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Allison Transmission's payout ratio is presently 12.27%.

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.