Wedge Capital Management L L P NC Buys 7,095 Shares of Allison Transmission Holdings, Inc. $ALSN

Key Points

• Wedge Capital Management increased its stake in Allison Transmission by 5.4%, purchasing 7,095 shares to reach a total of 139,204 shares valued at approximately $13.2 million.
• Allison Transmission's stock is currently down 0.8%, with a market cap of $7.39 billion and a recent EPS of $2.29, surpassing analysts' expectations.
• The company announced a quarterly dividend of $0.27 per share, resulting in an annual yield of 1.2% and a payout ratio of 12.27%.

Wedge Capital Management L L P NC lifted its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 5.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 139,204 shares of the auto parts company's stock after purchasing an additional 7,095 shares during the quarter. Wedge Capital Management L L P NC owned about 0.17% of Allison Transmission worth $13,223,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in Allison Transmission in the second quarter valued at $4,484,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Allison Transmission by 31.4% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 46,400 shares of the auto parts company's stock valued at $4,408,000 after buying an additional 11,100 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Allison Transmission by 64.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,718 shares of the auto parts company's stock valued at $2,519,000 after buying an additional 10,075 shares during the last quarter. Taylor Hoffman Capital Management LLC grew its holdings in shares of Allison Transmission by 5.9% during the second quarter. Taylor Hoffman Capital Management LLC now owns 54,109 shares of the auto parts company's stock valued at $5,140,000 after purchasing an additional 3,022 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its holdings in shares of Allison Transmission by 146.3% during the second quarter. Pallas Capital Advisors LLC now owns 10,433 shares of the auto parts company's stock valued at $991,000 after purchasing an additional 6,197 shares during the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ALSN shares. Raymond James Financial reduced their price objective on Allison Transmission from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, July 21st. Wall Street Zen downgraded Allison Transmission from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Bank of America increased their price objective on Allison Transmission from $74.00 to $79.00 and gave the company an "underperform" rating in a research report on Monday, June 16th. The Goldman Sachs Group lifted their price target on Allison Transmission from $80.00 to $90.00 and gave the company a "sell" rating in a report on Tuesday, May 27th. Finally, Citigroup dropped their price target on Allison Transmission from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $98.38.

Allison Transmission Stock Performance

Shares of Allison Transmission stock traded down $1.15 during trading on Tuesday, hitting $87.23. 311,484 shares of the stock were exchanged, compared to its average volume of 820,877. Allison Transmission Holdings, Inc. has a 1-year low of $80.39 and a 1-year high of $122.53. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 9.91 and a beta of 1.02. The company has a fifty day moving average price of $88.28 and a 200-day moving average price of $93.52. The company has a current ratio of 3.36, a quick ratio of 2.64 and a debt-to-equity ratio of 1.37.

Allison Transmission (NYSE:ALSN - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The auto parts company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.09. The firm had revenue of $814.00 million during the quarter, compared to the consensus estimate of $811.05 million. Allison Transmission had a net margin of 23.81% and a return on equity of 45.56%. The business's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.13 EPS. Allison Transmission has set its FY 2025 guidance at EPS. As a group, equities 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 announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Wednesday, August 20th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.08 annualized dividend and a yield of 1.2%. Allison Transmission's dividend payout ratio is currently 12.27%.

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.