Van ECK Associates Corp Cuts Stake in Allison Transmission Holdings, Inc. $ALSN

Van ECK Associates Corp lessened its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 92,427 shares of the auto parts company’s stock after selling 4,555 shares during the quarter. Van ECK Associates Corp’s holdings in Allison Transmission were worth $10,420,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ALSN. Jane Street Group LLC raised its position in shares of Allison Transmission by 341.3% during the first quarter. Jane Street Group LLC now owns 288,674 shares of the auto parts company’s stock valued at $27,617,000 after buying an additional 223,253 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Allison Transmission by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 214,907 shares of the auto parts company’s stock worth $20,560,000 after acquiring an additional 11,542 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Allison Transmission by 9.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,892 shares of the auto parts company’s stock valued at $180,000 after acquiring an additional 165 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Allison Transmission by 441.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,018 shares of the auto parts company’s stock valued at $97,000 after acquiring an additional 830 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Allison Transmission in the 2nd quarter valued at $6,111,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Eric C. Scroggins sold 1,050 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $125.00, for a total transaction of $131,250.00. Following the completion of the sale, the insider directly owned 16,604 shares of the company’s stock, valued at approximately $2,075,500. This trade represents a 5.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Graziosi sold 26,708 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer owned 304,843 shares of the company’s stock, valued at approximately $40,534,973.71. The trade was a 8.06% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. 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. Morgan Stanley lifted their target price on Allison Transmission from $126.00 to $130.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Wells Fargo & Company boosted their target price 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. Citigroup cut their price target on Allison Transmission from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, July 14th. 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 equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.17.

Allison Transmission Trading Down 2.4%

Shares of ALSN opened at $122.69 on Wednesday. The company’s fifty day simple moving average is $120.34 and its 200-day simple moving average is $119.97. The company has a market cap of $10.13 billion, a P/E ratio of 19.51, a P/E/G ratio of 0.67 and a beta of 0.95. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 2.07. Allison Transmission Holdings, Inc. has a twelve month low of $76.01 and a twelve month high of $137.62.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings results on Monday, August 3rd. The auto parts company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.25. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.29 EPS. As a group, analysts expect that Allison Transmission Holdings, Inc. will post 9.94 EPS for the current year.

Allison Transmission Announces Dividend

The firm also recently announced 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 0.9%. The ex-dividend date was Friday, August 21st. Allison Transmission’s payout ratio is 18.44%.

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.