Allison Transmission Holdings, Inc. $ALSN Stock Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 14.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 63,711 shares of the auto parts company’s stock after buying an additional 7,827 shares during the period. State of Alaska Department of Revenue’s holdings in Allison Transmission were worth $7,215,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ALSN. BlackRock Inc. purchased a new position in shares of Allison Transmission during the second quarter worth approximately $448,232,000. First Trust Advisors LP raised its stake in shares of Allison Transmission by 85.2% during the first quarter. First Trust Advisors LP now owns 2,026,603 shares of the auto parts company’s stock valued at $237,234,000 after acquiring an additional 932,201 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of Allison Transmission by 105.7% during the second quarter. Wasatch Advisors LP now owns 1,510,496 shares of the auto parts company’s stock valued at $170,293,000 after acquiring an additional 776,169 shares in the last quarter. Stockbridge Partners LLC bought a new stake in shares of Allison Transmission during the second quarter valued at approximately $169,108,000. Finally, Bank of America Corp DE raised its stake in shares of Allison Transmission by 12.3% during the first quarter. Bank of America Corp DE now owns 1,100,162 shares of the auto parts company’s stock valued at $128,785,000 after acquiring an additional 120,335 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO David Graziosi sold 26,708 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $132.97, for a total value of $3,551,362.76. Following the sale, the chief executive officer directly owned 304,843 shares in the company, valued at approximately $40,534,973.71. This trade represents a 8.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric 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 transaction 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 represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Allison Transmission Trading Up 1.6%

Shares of NYSE ALSN opened at $112.44 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 stock has a market capitalization of $9.29 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 0.58 and a beta of 0.98. Allison Transmission Holdings, Inc. has a 1-year low of $76.01 and a 1-year high of $137.62. The business has a fifty day moving average price of $121.34 and a 200 day moving average price of $120.12.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings data on Monday, August 3rd. The auto parts company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.25. Allison Transmission had a return on equity of 38.18% and a net margin of 12.02%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was up 92.4% compared to the same quarter last year. Equities research analysts expect that Allison Transmission Holdings, Inc. will post 10.25 EPS for the current fiscal year.

Allison Transmission Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 21st. Allison Transmission’s dividend payout ratio is presently 18.44%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Allison Transmission from $145.00 to $142.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Weiss Ratings upgraded Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Zacks Research upgraded Allison Transmission from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Freedom Broker began coverage on Allison Transmission in a research report on Friday, October 2nd. They set a “buy” rating and a $144.00 target price for the company. Finally, Morgan Stanley lifted their target price on Allison Transmission from $126.00 to $130.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Allison Transmission currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.57.

Allison Transmission Profile

Allison Transmission Holdings, Inc designs and manufactures fully automatic transmissions and propulsion solutions for commercial and defense vehicles. Its products are used in a broad range of applications, including refuse and construction trucks, buses, distribution vehicles, emergency vehicles, motorhomes, and off-highway equipment.

The company’s portfolio includes conventional automatic transmissions, hybrid-electric propulsion systems, and electric axles and other solutions intended to support vehicle electrification.