NewEdge Wealth LLC Buys New Stake in Allison Transmission Holdings, Inc. $ALSN

NewEdge Wealth LLC purchased a new position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 618,833 shares of the auto parts company’s stock, valued at approximately $69,767,000. NewEdge Wealth LLC owned 0.75% of Allison Transmission at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Millstone Evans Group LLC acquired a new position in shares of Allison Transmission during the first quarter worth about $26,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Allison Transmission in the first quarter valued at about $27,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Allison Transmission in the first quarter valued at about $28,000. Larson Financial Group LLC raised its holdings in shares of Allison Transmission by 536.7% during the 4th quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company’s stock valued at $31,000 after buying an additional 263 shares during the period. Finally, Transamerica Financial Advisors LLC raised its holdings in shares of Allison Transmission by 2,112.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company’s stock valued at $35,000 after buying an additional 338 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Allison Transmission Price Performance

ALSN stock opened at $124.87 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 2.07. Allison Transmission Holdings, Inc. has a 52-week low of $76.01 and a 52-week high of $137.62. The stock’s 50 day moving average is $118.53 and its two-hundred day moving average is $119.00. The company has a market capitalization of $10.31 billion, a PE ratio of 19.85, a P/E/G ratio of 0.67 and a beta of 0.95.

Allison Transmission (NYSE:ALSN) last released its earnings results on Monday, August 3rd. The auto parts company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.48 by $0.25. Allison Transmission had a return on equity of 38.18% and a net margin of 12.02%.The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business posted $2.29 EPS. The business’s revenue was up 92.4% on a year-over-year basis. Analysts predict that Allison Transmission Holdings, Inc. will post 9.94 earnings per share for the current fiscal year.

Allison Transmission Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 21st. Allison Transmission’s dividend payout ratio is 18.44%.

Insiders Place Their Bets

In other Allison Transmission news, insider Eric C. Scroggins sold 1,050 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $125.00, for a total transaction of $131,250.00. Following the completion of the transaction, the insider directly owned 16,604 shares of the company’s stock, valued at $2,075,500. This trade represents a 5.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Weiss Ratings raised Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Morgan Stanley lifted their price objective on shares of Allison Transmission from $126.00 to $130.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Citigroup reduced their target price on shares of Allison Transmission from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Wells Fargo & Company boosted their target price on shares of Allison Transmission from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Allison Transmission from $140.00 to $145.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.17.

About Allison Transmission

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.