Bank of New York Mellon Corp Purchases New Shares in Allison Transmission Holdings, Inc. $ALSN

Bank of New York Mellon Corp bought a new position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 482,257 shares of the auto parts company’s stock, valued at approximately $54,370,000.

Several other institutional investors also recently bought and sold shares of ALSN. Millstone Evans Group LLC acquired a new position in shares of Allison Transmission during the 1st quarter worth approximately $26,000. Cedar Mountain Advisors LLC acquired a new position in Allison Transmission during the first quarter worth $27,000. Cassaday & Co Wealth Management LLC acquired a new position in Allison Transmission during the first quarter worth $28,000. Larson Financial Group LLC lifted its holdings in Allison Transmission by 536.7% during the fourth quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 263 shares in the last quarter. Finally, Transamerica Financial Advisors LLC grew its position in shares of Allison Transmission by 2,112.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 338 shares during the period. 96.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Allison Transmission news, insider Eric C. Scroggins sold 1,050 shares of Allison Transmission 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 completion of the transaction, the insider directly owned 16,604 shares of the company’s stock, valued at $2,075,500. The trade was a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David S. Graziosi sold 26,708 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $132.97, for a total transaction of $3,551,362.76. Following the sale, the chief executive officer owned 304,843 shares in the company, valued at $40,534,973.71. This trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ALSN shares. Morgan Stanley increased their price objective on Allison Transmission from $126.00 to $130.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. JPMorgan Chase & Co. increased their price objective on shares of Allison Transmission from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Citigroup dropped their price target on Allison Transmission from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Wells Fargo & Company lifted their price objective on Allison Transmission from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings raised Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.17.

Allison Transmission Price Performance

Allison Transmission stock opened at $128.73 on Thursday. The company’s 50 day simple moving average is $119.78 and its 200-day simple moving average is $119.67. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.17 and a current ratio of 1.81. 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 $10.63 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 0.71 and a beta of 0.95.

Allison Transmission (NYSE:ALSN) last posted its earnings results on Monday, August 3rd. The auto parts company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.25. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.50 billion. Allison Transmission had a net margin of 12.02% and a return on equity of 38.18%. The firm’s revenue for the quarter was up 92.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. As a group, equities research analysts expect that Allison Transmission Holdings, Inc. will post 9.94 earnings per share for the current year.

Allison Transmission Dividend Announcement

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

Allison Transmission Company 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.