NewEdge Wealth LLC Purchases 41,504 Shares of Allison Transmission Holdings, Inc. $ALSN

NewEdge Wealth LLC raised its position in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 7.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 601,636 shares of the auto parts company’s stock after acquiring an additional 41,504 shares during the quarter. Allison Transmission makes up 0.8% of NewEdge Wealth LLC’s investment portfolio, making the stock its 26th largest position. NewEdge Wealth LLC owned 0.73% of Allison Transmission worth $70,428,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALSN. Jane Street Group LLC lifted its position in shares of Allison Transmission by 341.3% in the 1st quarter. Jane Street Group LLC now owns 288,674 shares of the auto parts company’s stock worth $27,617,000 after purchasing an additional 223,253 shares during the period. Goldman Sachs Group Inc. increased its stake in Allison Transmission by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 214,907 shares of the auto parts company’s stock valued at $20,560,000 after purchasing an additional 11,542 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Allison Transmission by 9.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,892 shares of the auto parts company’s stock valued at $180,000 after acquiring an additional 165 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Allison Transmission by 441.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,018 shares of the auto parts company’s stock worth $97,000 after purchasing an additional 830 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Allison Transmission in the 2nd quarter worth about $6,111,000. Institutional investors own 96.90% of the company’s stock.

Allison Transmission Stock Up 2.2%

ALSN stock opened at $118.79 on Thursday. The business’s 50-day moving average price is $115.73 and its 200-day moving average price is $117.02. The stock has a market cap of $9.85 billion, a P/E ratio of 18.47, a PEG ratio of 0.62 and a beta of 0.95. The company has a quick ratio of 1.18, a current ratio of 1.85 and a debt-to-equity ratio of 2.23. Allison Transmission Holdings, Inc. has a twelve month low of $76.01 and a twelve month high of $137.62.

Allison Transmission (NYSE:ALSN) last released its earnings results on Monday, May 4th. The auto parts company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.47. Allison Transmission had a net margin of 14.88% and a return on equity of 37.50%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the firm posted $2.23 EPS. The firm’s quarterly revenue was up 83.6% compared to the same quarter last year. On average, equities research analysts forecast that Allison Transmission Holdings, Inc. will post 9.91 EPS for the current year.

Allison Transmission Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, May 18th. Allison Transmission’s dividend payout ratio (DPR) is presently 18.04%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ALSN shares. Weiss Ratings downgraded shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Morgan Stanley boosted 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 note on Friday, July 17th. Citigroup lowered their price target on Allison Transmission from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Wells Fargo & Company lifted their price objective on Allison Transmission from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on Allison Transmission from $140.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, July 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 stock. According to MarketBeat.com, Allison Transmission currently has a consensus rating of “Hold” and an average target price of $131.17.

Insider Activity at Allison Transmission

In related news, CFO Scott A. Mell sold 2,270 shares of Allison Transmission stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.00, for a total transaction of $283,750.00. Following the transaction, the chief financial officer owned 1,053 shares in the company, valued at approximately $131,625. The trade was a 68.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.

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.