Allison Transmission Holdings, Inc. $ALSN Stake Lowered by Parcion Private Wealth LLC

Parcion Private Wealth LLC cut its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 85.4% during the third quarter, HoldingsChannel reports. The fund owned 6,773 shares of the auto parts company’s stock after selling 39,664 shares during the quarter. Parcion Private Wealth LLC’s holdings in Allison Transmission were worth $767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE acquired a new position in Allison Transmission in the second quarter worth approximately $83,110,000. MAC Alpha Capital Management LP lifted its stake in Allison Transmission by 59.4% in the second quarter. MAC Alpha Capital Management LP now owns 156,191 shares of the auto parts company’s stock valued at $17,610,000 after acquiring an additional 58,208 shares during the last quarter. Vise Technologies Inc. acquired a new stake in Allison Transmission in the second quarter valued at approximately $1,047,000. BlackRock Inc. bought a new stake in Allison Transmission in the second quarter worth approximately $448,232,000. Finally, Man Group plc bought a new stake in Allison Transmission in the second quarter worth approximately $5,386,000. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Allison Transmission Price Performance

NYSE ALSN opened at $107.86 on Friday. Allison Transmission Holdings, Inc. has a 1 year low of $78.19 and a 1 year high of $137.62. The company has a fifty day simple moving average of $117.78 and a 200 day simple moving average of $118.28. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 2.07. The company has a market cap of $8.91 billion, a P/E ratio of 17.15, a P/E/G ratio of 0.57 and a beta of 0.98.

Allison Transmission (NYSE:ALSN) last released its earnings results on Monday, August 3rd. The auto parts company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.25. Allison Transmission had a net margin of 12.02% and a return on equity of 38.18%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the business earned $2.29 EPS. The business’s revenue was up 92.4% on a year-over-year basis. On average, sell-side analysts predict that Allison Transmission Holdings, Inc. will post 10.25 EPS for the current year.

Allison Transmission Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were paid a dividend of $0.29 per share. The ex-dividend date was Friday, August 21st. This represents a $1.16 annualized dividend and a yield of 1.1%. Allison Transmission’s dividend payout ratio is presently 18.44%.

Insider Activity at Allison Transmission

In other news, insider Eric Scroggins sold 1,050 shares of the company’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 transaction, the insider directly owned 16,604 shares in the company, valued at $2,075,500. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Graziosi sold 26,708 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 304,843 shares of the company’s stock, valued at $40,534,973.71. This represents a 8.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company reduced their price objective on shares of Allison Transmission from $137.00 to $120.00 and set an “equal weight” rating for the company in a research note on Thursday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of Allison Transmission from $145.00 to $142.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Zacks Research upgraded Allison Transmission from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Citigroup raised Allison Transmission from a “neutral” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

About Allison Transmission

Allison Transmission, Inc designs and manufactures propulsion solutions for commercial, defense and off-highway vehicles. The company is best known for its fully automatic transmissions, which are used in applications including refuse collection, construction, distribution, emergency services, public transportation and mining.

Its product portfolio also includes electric and hybrid-electric propulsion systems, including the eGen Power electric axle and other electrification technologies.