Solidarity Wealth LLC Has $26.24 Million Stake in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Key Points

• Solidarity Wealth LLC increased its stake in Allison Transmission by 21.5%, owning approximately $26.24 million worth of stock, making it the second largest position in their portfolio.
• Analysts have recently adjusted their ratings for Allison Transmission, with Consensus showing an average "Hold" rating and a price target of $98.38.
• Allison Transmission announced a quarterly dividend of $0.27, reflecting an annual yield of 1.21% and a payout ratio of 12.50%.

Solidarity Wealth LLC increased its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 21.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,259 shares of the auto parts company's stock after buying an additional 48,528 shares during the quarter. Allison Transmission accounts for approximately 6.5% of Solidarity Wealth LLC's holdings, making the stock its 2nd biggest position. Solidarity Wealth LLC owned approximately 0.32% of Allison Transmission worth $26,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC grew its stake in shares of Allison Transmission by 1.9% in the 4th quarter. FMR LLC now owns 12,993,015 shares of the auto parts company's stock valued at $1,404,025,000 after buying an additional 247,318 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Allison Transmission by 3.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,652,996 shares of the auto parts company's stock worth $286,683,000 after acquiring an additional 76,840 shares in the last quarter. Norges Bank bought a new stake in Allison Transmission in the fourth quarter worth approximately $108,916,000. Federated Hermes Inc. grew its position in Allison Transmission by 3.9% in the fourth quarter. Federated Hermes Inc. now owns 956,691 shares of the auto parts company's stock worth $103,380,000 after acquiring an additional 36,065 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Allison Transmission by 2.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 656,336 shares of the auto parts company's stock worth $70,924,000 after acquiring an additional 14,038 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company's stock.

Allison Transmission Price Performance

ALSN traded up $1.62 during midday trading on Thursday, reaching $88.67. 308,713 shares of the company's stock were exchanged, compared to its average volume of 772,925. The company has a quick ratio of 2.37, a current ratio of 3.05 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 10.24 and a beta of 0.96. Allison Transmission Holdings, Inc. has a one year low of $78.71 and a one year high of $122.53. The business has a 50-day simple moving average of $95.59 and a two-hundred day simple moving average of $99.25.

Allison Transmission (NYSE:ALSN - Get Free Report) last announced its earnings results on Thursday, May 1st. The auto parts company reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.97 by $0.26. The company had revenue of $766.00 million during the quarter, compared to the consensus estimate 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 was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 earnings per share. As a group, research analysts predict that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission Announces Dividend

The firm also recently announced 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. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, May 19th. Allison Transmission's payout ratio is 12.50%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALSN. Citigroup decreased their price objective on shares of Allison Transmission from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, June 24th. JPMorgan Chase & Co. decreased their price target on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Robert W. Baird decreased their price target on Allison Transmission from $123.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen cut Allison Transmission from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, The Goldman Sachs Group upped their target price on Allison Transmission from $80.00 to $90.00 and gave the stock a "sell" rating in a research report on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Allison Transmission has a consensus rating of "Hold" and a consensus target price of $98.38.

Insider Activity at Allison Transmission

In other Allison Transmission news, VP Ryan A. Milburn sold 3,412 shares of the company's stock in a transaction 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 completion of the sale, the vice president owned 11,924 shares in the company, valued at approximately $1,254,881.76. The trade was a 22.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

About Allison Transmission

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.