MAI Capital Management Takes $442,000 Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Posted by Defense World Staff on Aug 24th, 2023

MAI Capital Management acquired a new position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,776 shares of the auto parts company’s stock, valued at approximately $442,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new position in Allison Transmission in the fourth quarter valued at about $25,000. Canada Pension Plan Investment Board increased its stake in shares of Allison Transmission by 157.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the auto parts company’s stock valued at $51,000 after buying an additional 795 shares during the period. Fred Alger Management LLC raised its holdings in Allison Transmission by 100.9% in the 3rd quarter. Fred Alger Management LLC now owns 2,144 shares of the auto parts company’s stock valued at $72,000 after buying an additional 1,077 shares during the last quarter. IFP Advisors Inc boosted its position in Allison Transmission by 26.0% during the 4th quarter. IFP Advisors Inc now owns 1,399 shares of the auto parts company’s stock worth $77,000 after buying an additional 289 shares during the period. Finally, Harbour Investments Inc. grew its holdings in Allison Transmission by 9,480.0% during the 4th quarter. Harbour Investments Inc. now owns 1,916 shares of the auto parts company’s stock worth $80,000 after acquiring an additional 1,896 shares during the last quarter. Institutional investors own 98.67% of the company’s stock.

Insider Activity at Allison Transmission

In other Allison Transmission news, VP Thomas Eifert sold 2,790 shares of Allison Transmission stock in a transaction on 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 directly owns 5,695 shares of the company’s stock, valued at $336,005. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Allison Transmission news, VP Thomas Eifert sold 2,790 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $59.00, for a total value of $164,610.00. Following the transaction, the vice president now owns 5,695 shares in the company, valued at $336,005. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP John Coll sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.89, for a total value of $113,780.00. Following the sale, the senior vice president now owns 18,788 shares of the company’s stock, valued at approximately $1,068,849.32. The disclosure for this sale can be found here. Insiders have sold 6,790 shares of company stock worth $386,390 in the last quarter. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ALSN has been the subject of several analyst reports. Credit Suisse Group raised their price target on shares of Allison Transmission from $49.00 to $57.00 in a research note on Monday, July 31st. Citigroup raised their target price on Allison Transmission from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 1st. The Goldman Sachs Group upped their price target on Allison Transmission from $42.00 to $48.00 and gave the company a “sell” rating in a research report on Monday, July 31st. Oppenheimer raised their price objective on Allison Transmission from $53.00 to $67.00 in a research report on Friday, July 28th. Finally, StockNews.com initiated coverage on Allison Transmission in a research note on Thursday, August 17th. They issued a “strong-buy” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Allison Transmission presently has an average rating of “Hold” and an average target price of $52.86.

Read Our Latest Analysis on Allison Transmission

Allison Transmission Stock Performance

Shares of Allison Transmission stock opened at $59.26 on Thursday. The company has a market cap of $5.31 billion, a P/E ratio of 8.79, a PEG ratio of 1.21 and a beta of 1.01. The company has a current ratio of 2.15, a quick ratio of 1.59 and a debt-to-equity ratio of 2.37. The business has a 50-day moving average price of $57.37 and a two-hundred day moving average price of $50.66. Allison Transmission Holdings, Inc. has a 1-year low of $32.63 and a 1-year high of $60.17.

Allison Transmission (NYSE:ALSN – Get Free Report) last released its earnings results on Thursday, July 27th. The auto parts company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.61 by $0.31. Allison Transmission had a return on equity of 67.93% and a net margin of 21.17%. The business had revenue of $783.00 million during the quarter, compared to analysts’ expectations of $735.95 million. During the same quarter last year, the firm posted $1.26 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis. As a group, analysts anticipate that Allison Transmission Holdings, Inc. will post 6.93 EPS for the current year.

Allison Transmission Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, August 14th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.55%. Allison Transmission’s dividend payout ratio is currently 13.65%.

Allison Transmission Company Profile

(Free Report)

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.