Ieq Capital LLC Makes New Investment in Allison Transmission Holdings, Inc. $ALSN

Ieq Capital LLC purchased a new stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) in the second quarter, HoldingsChannel reports. The institutional investor purchased 5,275 shares of the auto parts company’s stock, valued at approximately $595,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Jane Street Group LLC lifted its stake 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. grew its position 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 buying an additional 11,542 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings 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 buying an additional 165 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 830 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Allison Transmission in the second quarter worth approximately $6,111,000. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Allison Transmission Price Performance

Shares of NYSE:ALSN opened at $126.41 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. Allison Transmission Holdings, Inc. has a 1-year low of $76.01 and a 1-year high of $137.62. The company has a market capitalization of $10.44 billion, a P/E ratio of 20.10, a P/E/G ratio of 0.69 and a beta of 0.95. The firm’s 50 day simple moving average is $120.12 and its two-hundred day simple moving average is $119.82.

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, topping analysts’ consensus estimates of $2.48 by $0.25. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Allison Transmission had a net margin of 12.02% and a return on equity of 38.18%. The company’s revenue for the quarter was up 92.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.29 earnings per share. Research analysts expect that Allison Transmission Holdings, Inc. will post 9.94 EPS for the current fiscal year.

Allison Transmission Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Eric C. Scroggins sold 1,050 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $125.00, for a total value of $131,250.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Graziosi sold 26,708 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $132.97, for a total value of $3,551,362.76. Following the completion of the transaction, the chief executive officer directly owned 304,843 shares of the company’s stock, valued at approximately $40,534,973.71. This trade represents a 8.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ALSN shares. JPMorgan Chase & Co. lifted their price target on shares of Allison Transmission from $140.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings upgraded Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Citigroup decreased their target price 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 target price on Allison Transmission from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley boosted their price target on Allison Transmission from $126.00 to $130.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.17.

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.