Hsbc Holdings PLC Trims Holdings in Allison Transmission Holdings, Inc. $ALSN

Hsbc Holdings PLC reduced its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 10.3% in the fourth quarter, HoldingsChannel reports. The fund owned 152,682 shares of the auto parts company’s stock after selling 17,451 shares during the period. Hsbc Holdings PLC’s holdings in Allison Transmission were worth $15,012,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ALSN. Larson Financial Group LLC increased its stake in shares of Allison Transmission by 536.7% during the fourth quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 263 shares in the last quarter. Transamerica Financial Advisors LLC grew its stake in shares of Allison Transmission by 2,112.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company’s stock worth $35,000 after buying an additional 338 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Allison Transmission in the 4th quarter worth approximately $51,000. Advisory Services Network LLC bought a new position in Allison Transmission during the 3rd quarter valued at approximately $61,000. Finally, Platinum Investment Management Ltd. bought a new position in Allison Transmission during the 4th quarter valued at approximately $62,000. Institutional investors own 96.90% of the company’s stock.

Allison Transmission Trading Up 3.9%

NYSE:ALSN opened at $124.35 on Friday. The company has a market cap of $10.31 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 0.65 and a beta of 0.94. The company has a current ratio of 1.85, a quick ratio of 1.18 and a debt-to-equity ratio of 2.23. The company has a 50 day simple moving average of $120.72 and a two-hundred day simple moving average of $114.81. Allison Transmission Holdings, Inc. has a 12 month low of $76.01 and a 12 month high of $137.62.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings results on Monday, May 4th. The auto parts company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.47. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Allison Transmission had a return on equity of 37.50% and a net margin of 14.88%.The company’s revenue was up 83.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 EPS. Research analysts forecast that Allison Transmission Holdings, Inc. will post 9.86 earnings per share for the current year.

Allison Transmission Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a $0.29 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.16 dividend on an annualized basis and a yield of 0.9%. Allison Transmission’s dividend payout ratio is currently 18.04%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Allison Transmission from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Morgan Stanley lifted their price target on Allison Transmission from $117.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. Zacks Research cut shares of Allison Transmission from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Finally, Citigroup increased their price objective on shares of Allison Transmission from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $127.17.

Insider Transactions at Allison Transmission

In other Allison Transmission news, CFO Scott A. Mell sold 2,270 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.00, for a total value of $283,750.00. Following the transaction, the chief financial officer directly owned 1,053 shares of the company’s stock, valued at approximately $131,625. This trade represents a 68.31% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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.