Allison Transmission Holdings, Inc. $ALSN Position Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 85.6% in the first quarter, HoldingsChannel reports. The firm owned 136,601 shares of the auto parts company’s stock after purchasing an additional 62,984 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Allison Transmission were worth $16,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new position in shares of Allison Transmission during the first quarter valued at $26,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Allison Transmission in the 1st quarter worth about $27,000. Larson Financial Group LLC increased its holdings in shares of Allison Transmission by 536.7% in the 4th quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 263 shares during the period. Transamerica Financial Advisors LLC lifted its position in Allison Transmission by 2,112.5% in the 4th 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Allison Transmission in the 4th quarter valued at about $51,000. 96.90% of the stock is currently owned by institutional investors.

Allison Transmission Stock Performance

ALSN stock opened at $116.09 on Wednesday. The company has a 50-day simple moving average of $115.80 and a 200 day simple moving average of $116.87. The company has a market capitalization of $9.63 billion, a P/E ratio of 18.05, a PEG ratio of 0.61 and a beta of 0.95. The company has a quick ratio of 1.18, a current ratio of 1.85 and a debt-to-equity ratio of 2.23. Allison Transmission Holdings, Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $137.62.

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

Allison Transmission Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALSN. Weiss Ratings lowered shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Zacks Research cut Allison Transmission from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Citigroup reduced their price objective 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. JPMorgan Chase & Co. increased their price objective on Allison Transmission from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Wells Fargo & Company raised their target price on Allison Transmission from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $131.17.

Insider Activity at Allison Transmission

In related news, CFO Scott A. Mell sold 2,270 shares of the firm’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 transaction of $283,750.00. Following the transaction, the chief financial officer owned 1,053 shares in the company, valued at $131,625. This trade represents a 68.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

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.