New York Life Investment Management LLC bought a new stake in Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,595 shares of the auto parts company’s stock, valued at approximately $479,000.
Other large investors have also recently bought and sold shares of the company. Kestra Advisory Services LLC increased its holdings in Allison Transmission by 38.9% in the fourth quarter. Kestra Advisory Services LLC now owns 9,872 shares of the auto parts company’s stock valued at $411,000 after buying an additional 2,763 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Allison Transmission by 23.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 98,400 shares of the auto parts company’s stock valued at $4,093,000 after buying an additional 18,756 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Allison Transmission by 376.9% in the first quarter. Nisa Investment Advisors LLC now owns 17,606 shares of the auto parts company’s stock valued at $796,000 after buying an additional 13,914 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Allison Transmission by 45.6% in the fourth quarter. Pacer Advisors Inc. now owns 506,237 shares of the auto parts company’s stock valued at $21,059,000 after buying an additional 158,658 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Allison Transmission by 1.3% in the first quarter. Treasurer of the State of North Carolina now owns 48,035 shares of the auto parts company’s stock valued at $2,173,000 after buying an additional 638 shares during the last quarter. Hedge funds and other institutional investors own 98.67% of the company’s stock.
Insider Activity at Allison Transmission
In related news, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $56.89, for a total value of $113,780.00. Following the completion of the sale, the senior vice president now owns 18,788 shares in the company, valued at $1,068,849.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Thomas Eifert sold 2,790 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $59.00, for a total value of $164,610.00. Following the completion of the sale, the vice president now owns 5,695 shares in the company, valued at $336,005. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John Coll sold 2,000 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $56.89, for a total transaction of $113,780.00. Following the completion of the transaction, the senior vice president now directly owns 18,788 shares of the company’s stock, valued at $1,068,849.32. The disclosure for this sale can be found here. Insiders sold a total of 6,790 shares of company stock worth $386,390 over the last 90 days. Company insiders own 1.10% of the company’s stock.
Allison Transmission Price Performance
Allison Transmission (NYSE:ALSN – Get Free Report) last announced its earnings results on Thursday, July 27th. The auto parts company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.31. Allison Transmission had a net margin of 21.17% and a return on equity of 67.93%. The business had revenue of $783.00 million during the quarter, compared to the consensus estimate of $735.95 million. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, equities research analysts anticipate that Allison Transmission Holdings, Inc. will post 6.86 earnings per share for the current year.
Allison Transmission Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, August 14th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.55%. Allison Transmission’s payout ratio is currently 13.65%.
Analysts Set New Price Targets
Several brokerages have issued reports on ALSN. The Goldman Sachs Group raised their price objective on Allison Transmission from $42.00 to $48.00 and gave the stock a “sell” rating in a report on Monday, July 31st. Credit Suisse Group raised their price objective on Allison Transmission from $49.00 to $57.00 in a report on Monday, July 31st. StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 15th. Morgan Stanley raised their price objective on Allison Transmission from $39.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, April 20th. Finally, Bank of America raised their price objective on Allison Transmission from $40.00 to $44.00 in a report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $52.86.
View Our Latest Stock Analysis on ALSN
About Allison Transmission
Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully automatic transmissions for medium-and heavy-duty commercial vehicles, and medium-and heavy-tactical U.S. defense vehicles worldwide. The company offers transmissions for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school and transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.
Featured Stories
- Five stocks we like better than Allison Transmission
- How to Invest and Trade Chinese Stocks
- On Holding Slips Into A More Comfortable Price Point
- How to Buy Metaverse Stock Step by Step
- 3 Growing Cannabis Stocks Ready To Bloom
- What is the Hang Seng index?
- Will Meta’s Pullback Offer Buy Point After AI-Driven Surge?
Want to see what other hedge funds are holding ALSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report).
Receive News & Ratings for Allison Transmission Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allison Transmission and related companies with MarketBeat.com's FREE daily email newsletter.
