NewEdge Wealth LLC Boosts Holdings in Allison Transmission Holdings, Inc. $ALSN

NewEdge Wealth LLC boosted its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 7.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 601,636 shares of the auto parts company’s stock after purchasing an additional 41,504 shares during the quarter. Allison Transmission makes up approximately 0.8% of NewEdge Wealth LLC’s holdings, making the stock its 26th biggest position. NewEdge Wealth LLC’s holdings in Allison Transmission were worth $70,428,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jane Street Group LLC increased its holdings in 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 valued at $27,617,000 after acquiring an additional 223,253 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Allison Transmission by 5.7% during the first 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. raised its stake in 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 purchasing an additional 165 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Allison Transmission by 441.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,018 shares of the auto parts company’s stock valued at $97,000 after purchasing an additional 830 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Allison Transmission during the second quarter valued at $6,111,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings cut shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. increased their price target on shares of Allison Transmission from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Citigroup dropped their price target on Allison Transmission from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Wells Fargo & Company boosted their price objective on Allison Transmission from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley upped their price objective on Allison Transmission from $126.00 to $130.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Allison Transmission has an average rating of “Hold” and a consensus target price of $131.17.

Insider Buying and Selling at Allison Transmission

In related 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 transaction of $283,750.00. Following the sale, the chief financial officer owned 1,053 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by company insiders.

Allison Transmission Price Performance

Shares of ALSN stock opened at $118.79 on Thursday. The company has a market capitalization of $9.85 billion, a P/E ratio of 18.47, a P/E/G ratio of 0.62 and a beta of 0.95. The company’s 50-day simple moving average is $115.73 and its two-hundred day simple moving average is $117.02. Allison Transmission Holdings, Inc. has a one year low of $76.01 and a one year high of $137.62. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.85 and a quick ratio of 1.18.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Monday, May 4th. The auto parts company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.47. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. Allison Transmission had a return on equity of 37.50% and a net margin of 14.88%.Allison Transmission’s quarterly revenue was up 83.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.23 earnings per share. As a group, equities analysts anticipate that Allison Transmission Holdings, Inc. will post 9.91 EPS for the current year.

Allison Transmission Dividend Announcement

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

Allison Transmission 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.