NewEdge Wealth LLC Invests $69.77 Million in Allison Transmission Holdings, Inc. $ALSN

NewEdge Wealth LLC purchased a new stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) in the second quarter, according to its most recent filing with the SEC. The fund purchased 618,833 shares of the auto parts company’s stock, valued at approximately $69,767,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC bought a new position in Allison Transmission during the first quarter worth $26,000. Cedar Mountain Advisors LLC bought a new stake in Allison Transmission during the first quarter valued at $27,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Allison Transmission during the first quarter worth $28,000. Larson Financial Group LLC raised its holdings 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 worth $31,000 after purchasing an additional 263 shares during the period. Finally, Transamerica Financial Advisors LLC lifted its position 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. 96.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Allison Transmission from $140.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Morgan Stanley upped their target price on Allison Transmission from $126.00 to $130.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Weiss Ratings upgraded Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company increased their price target on 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, Citigroup cut 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Allison Transmission currently has a consensus rating of “Moderate Buy” and an average target price of $131.17.

Allison Transmission Stock Performance

Shares of ALSN stock opened at $124.87 on Thursday. Allison Transmission Holdings, Inc. has a 12-month low of $76.01 and a 12-month high of $137.62. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 0.67 and a beta of 0.95. The business has a 50 day simple moving average of $118.53 and a 200 day simple moving average of $119.00. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.81 and a quick ratio of 1.17.

Allison Transmission (NYSE:ALSN) last announced its earnings results on Monday, August 3rd. The auto parts company reported $2.73 earnings per share 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 firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business earned $2.29 EPS. The firm’s revenue for the quarter was up 92.4% on a year-over-year basis. On average, equities research analysts anticipate that Allison Transmission Holdings, Inc. will post 9.94 EPS for the current year.

Allison Transmission Dividend Announcement

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

Insider Buying and Selling at Allison Transmission

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

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.