HighTower Advisors LLC Buys New Stake in Allison Transmission Holdings, Inc. (NYSE:ALSN)

HighTower Advisors LLC bought a new position in Allison Transmission Holdings, Inc. (NYSE:ALSN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,805 shares of the auto parts company’s stock, valued at approximately $270,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd increased its position in shares of Allison Transmission by 3.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 3,697 shares of the auto parts company’s stock valued at $355,000 after purchasing an additional 126 shares during the period. Venturi Wealth Management LLC lifted its stake in Allison Transmission by 27.8% during the third quarter. Venturi Wealth Management LLC now owns 744 shares of the auto parts company’s stock worth $71,000 after purchasing an additional 162 shares during the period. Private Advisor Group LLC lifted its stake in Allison Transmission by 4.4% during the third quarter. Private Advisor Group LLC now owns 3,972 shares of the auto parts company’s stock worth $382,000 after purchasing an additional 167 shares during the period. Miller Howard Investments Inc. NY boosted its holdings in Allison Transmission by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 8,911 shares of the auto parts company’s stock valued at $676,000 after purchasing an additional 186 shares in the last quarter. Finally, Americana Partners LLC raised its stake in Allison Transmission by 3.9% during the second quarter. Americana Partners LLC now owns 5,069 shares of the auto parts company’s stock worth $385,000 after acquiring an additional 191 shares in the last quarter. Institutional investors own 96.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ALSN shares. Morgan Stanley raised their price target on Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. StockNews.com lowered Allison Transmission from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Robert W. Baird lifted their price target on Allison Transmission from $103.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Citigroup increased their price objective on shares of Allison Transmission from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group boosted their target price on shares of Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Allison Transmission has a consensus rating of “Hold” and an average price target of $102.63.

Allison Transmission Stock Performance

Shares of NYSE:ALSN opened at $108.36 on Tuesday. The stock has a market capitalization of $9.39 billion, a P/E ratio of 13.20, a P/E/G ratio of 2.03 and a beta of 0.98. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 1.48. Allison Transmission Holdings, Inc. has a 1-year low of $55.19 and a 1-year high of $122.53. The business has a 50-day moving average price of $111.55 and a two-hundred day moving average price of $94.43.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.26. Allison Transmission had a return on equity of 51.13% and a net margin of 22.66%. The business had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $790.08 million. During the same period in the previous year, the firm earned $1.76 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities analysts predict that Allison Transmission Holdings, Inc. will post 8.21 earnings per share for the current year.

Allison Transmission Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. Allison Transmission’s payout ratio is 12.18%.

Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, CEO David S. Graziosi sold 1,723 shares of Allison Transmission stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $120.26, for a total value of $207,207.98. Following the transaction, the chief executive officer now owns 168,833 shares of the company’s stock, valued at approximately $20,303,856.58. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John Coll sold 2,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $117.73, for a total transaction of $235,460.00. Following the sale, the senior vice president now directly owns 8,420 shares of the company’s stock, valued at $991,286.60. This represents a 19.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,380 shares of company stock valued at $2,830,837. Company insiders own 0.93% of the company’s stock.

Allison Transmission Company Profile

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.