Legal & General Group Plc Buys Shares of 77,777 Allison Transmission Holdings, Inc. $ALSN

Legal & General Group Plc bought a new position in Allison Transmission Holdings, Inc. (NYSE:ALSN) in the 2nd quarter, HoldingsChannel reports. The fund bought 77,777 shares of the auto parts company’s stock, valued at approximately $8,769,000.

Several other large investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new position in shares of Allison Transmission during the second quarter worth approximately $35,523,000. Stockbridge Partners LLC acquired a new stake in Allison Transmission in the 2nd quarter valued at approximately $169,108,000. Algert Global LLC increased its position in Allison Transmission by 5.6% in the 2nd quarter. Algert Global LLC now owns 121,849 shares of the auto parts company’s stock valued at $13,737,000 after acquiring an additional 6,430 shares during the period. Sanctuary Advisors LLC bought a new stake in Allison Transmission during the 2nd quarter valued at $552,000. Finally, Bank of Nova Scotia acquired a new position in Allison Transmission during the 2nd quarter worth $6,717,000. Institutional investors and hedge funds own 96.90% of the company’s stock.

Allison Transmission Price Performance

NYSE:ALSN opened at $122.69 on Wednesday. The business’s 50-day moving average price is $120.34 and its 200 day moving average price is $119.97. The firm has a market cap of $10.13 billion, a P/E ratio of 19.51, a PEG ratio of 0.67 and a beta of 0.95. Allison Transmission Holdings, Inc. has a 52-week low of $76.01 and a 52-week high of $137.62. 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 (NYSE:ALSN) last issued its quarterly earnings results on Monday, August 3rd. The auto parts company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.25. Allison Transmission had a net margin of 12.02% and a return on equity of 38.18%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $2.29 EPS. Allison Transmission’s revenue was up 92.4% on a year-over-year basis. As a group, sell-side analysts predict that Allison Transmission Holdings, Inc. will post 9.94 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $1.16 annualized dividend and a yield of 0.9%. Allison Transmission’s dividend payout ratio is currently 18.44%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, insider Eric C. Scroggins sold 1,050 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $125.00, for a total transaction of $131,250.00. Following the completion of the sale, the insider owned 16,604 shares in the company, valued at approximately $2,075,500. This represents a 5.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Graziosi sold 26,708 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $132.97, for a total value of $3,551,362.76. Following the sale, the chief executive officer directly owned 304,843 shares of the company’s stock, valued at approximately $40,534,973.71. This represents a 8.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

Allison Transmission Company 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.