Danske Bank A S Buys New Stake in Allison Transmission Holdings, Inc. $ALSN

Danske Bank A S purchased a new stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) during the second quarter, HoldingsChannel.com reports. The fund purchased 71,954 shares of the auto parts company’s stock, valued at approximately $8,112,000.

A number of other institutional investors also recently bought and sold shares of the business. Diversify Advisory Services LLC purchased a new position in shares of Allison Transmission in the 2nd quarter valued at about $206,000. Foster & Motley Inc. purchased a new stake in Allison Transmission during the second quarter worth approximately $7,324,000. K.J. Harrison & Partners Inc acquired a new position in Allison Transmission in the second quarter valued at approximately $624,000. BlackRock Inc. acquired a new position in Allison Transmission in the second quarter valued at approximately $448,232,000. Finally, Pallas Capital Advisors LLC purchased a new position in Allison Transmission in the second quarter valued at approximately $426,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Allison Transmission Price Performance

Allison Transmission stock opened at $133.41 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.81 and a quick ratio of 1.17. The business has a 50 day simple moving average of $119.13 and a 200-day simple moving average of $119.24. Allison Transmission Holdings, Inc. has a 12 month low of $76.01 and a 12 month high of $137.62. The stock has a market capitalization of $11.02 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 0.69 and a beta of 0.95.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Monday, August 3rd. The auto parts company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company posted $2.29 EPS. Allison Transmission’s revenue was up 92.4% compared to the same quarter last year. Equities analysts predict that Allison Transmission Holdings, Inc. will post 9.94 earnings per share for the current year.

Allison Transmission Announces Dividend

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

Insider Buying and Selling

In related news, insider Eric C. Scroggins sold 1,050 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $125.00, for a total value of $131,250.00. Following the completion of the sale, the insider owned 16,604 shares in the company, valued at $2,075,500. This trade represents 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 at this link. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Allison Transmission from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Citigroup decreased their price objective on shares of Allison Transmission from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Wells Fargo & Company raised 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, Morgan Stanley lifted their target price on Allison Transmission from $126.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Allison Transmission presently has an average rating of “Moderate Buy” and an average price target of $131.17.

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.