Fifth Third Bancorp Acquires 36,573 Shares of Allison Transmission Holdings, Inc. $ALSN

Fifth Third Bancorp raised its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 48,764.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,648 shares of the auto parts company’s stock after purchasing an additional 36,573 shares during the period. Fifth Third Bancorp’s holdings in Allison Transmission were worth $4,290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Millstone Evans Group LLC bought a new position in Allison Transmission in the 1st quarter worth approximately $26,000. Cedar Mountain Advisors LLC purchased a new position in Allison Transmission in the 1st quarter valued at approximately $27,000. Larson Financial Group LLC raised its holdings in Allison Transmission by 536.7% during the 4th quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 263 shares during the period. Transamerica Financial Advisors LLC raised its holdings in Allison Transmission by 2,112.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company’s stock valued at $35,000 after acquiring an additional 338 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Allison Transmission during the fourth quarter worth $51,000. Institutional investors own 96.90% of the company’s stock.

Insider Activity at Allison Transmission

In other Allison Transmission news, CFO Scott A. Mell sold 2,270 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.00, for a total value of $283,750.00. Following the completion of the transaction, the chief financial officer owned 1,053 shares of the company’s stock, valued at $131,625. The trade was a 68.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ALSN. Zacks Research lowered Allison Transmission from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Citigroup decreased their price objective on Allison Transmission from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. Morgan Stanley increased their price objective on Allison Transmission from $126.00 to $130.00 and gave the stock an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on Allison Transmission from $140.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Finally, Weiss Ratings lowered Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $131.17.

Allison Transmission Stock Down 1.8%

Shares of NYSE:ALSN opened at $113.43 on Friday. The firm has a fifty day moving average price of $116.08 and a two-hundred day moving average price of $116.52. The company has a market cap of $9.41 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 0.62 and a beta of 0.95. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.85 and a quick ratio of 1.18. Allison Transmission Holdings, Inc. has a one year low of $76.01 and a one year high of $137.62.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings results on Monday, May 4th. The auto parts company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.47. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Allison Transmission had a net margin of 14.88% and a return on equity of 37.50%. The business’s quarterly revenue was up 83.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.23 earnings per share. Analysts anticipate that Allison Transmission Holdings, Inc. will post 9.91 EPS for the current fiscal year.

Allison Transmission Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. Allison Transmission’s payout ratio is presently 18.04%.

Allison Transmission 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.