Allison Transmission Holdings, Inc. (NYSE:ALSN) Stock Holdings Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 11.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,684 shares of the auto parts company’s stock after selling 27,340 shares during the quarter. Envestnet Asset Management Inc. owned 0.25% of Allison Transmission worth $20,634,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Penserra Capital Management LLC bought a new stake in shares of Allison Transmission during the 1st quarter worth $375,000. Concurrent Investment Advisors LLC boosted its stake in shares of Allison Transmission by 45.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,556 shares of the auto parts company’s stock worth $532,000 after acquiring an additional 1,735 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Allison Transmission by 25.9% in the first quarter. OneDigital Investment Advisors LLC now owns 3,320 shares of the auto parts company’s stock worth $318,000 after buying an additional 682 shares during the period. Meritage Portfolio Management boosted its position in shares of Allison Transmission by 6.3% in the first quarter. Meritage Portfolio Management now owns 27,918 shares of the auto parts company’s stock worth $2,671,000 after buying an additional 1,664 shares during the period. Finally, Cannon Global Investment Management LLC raised its position in Allison Transmission by 70.5% during the first quarter. Cannon Global Investment Management LLC now owns 10,400 shares of the auto parts company’s stock valued at $995,000 after buying an additional 4,300 shares during the period. 96.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Allison Transmission news, VP Ryan A. Milburn sold 3,412 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $105.24, for a total transaction of $359,078.88. Following the transaction, the vice president directly owned 11,924 shares in the company, valued at $1,254,881.76. This trade represents a 22.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Allison Transmission Price Performance

ALSN opened at $89.07 on Thursday. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 10.31 and a beta of 0.96. Allison Transmission Holdings, Inc. has a 1 year low of $78.71 and a 1 year high of $122.53. The company has a current ratio of 3.05, a quick ratio of 2.37 and a debt-to-equity ratio of 1.44. The stock has a fifty day moving average price of $98.83 and a 200 day moving average price of $100.72.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Thursday, May 1st. The auto parts company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.26. Allison Transmission had a return on equity of 46.97% and a net margin of 23.55%. The firm had revenue of $766.00 million during the quarter, compared to analysts’ expectations of $792.18 million. During the same quarter last year, the firm earned $1.90 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.08 annualized dividend and a yield of 1.21%. Allison Transmission’s dividend payout ratio (DPR) is currently 12.50%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALSN. Bank of America increased their price objective on Allison Transmission from $74.00 to $79.00 and gave the stock an “underperform” rating in a research note on Monday, June 16th. Morgan Stanley increased their price objective on Allison Transmission from $94.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Robert W. Baird reduced their price objective on Allison Transmission from $123.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Citigroup reduced their price objective on Allison Transmission from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, June 24th. Finally, The Goldman Sachs Group increased their price objective on Allison Transmission from $80.00 to $90.00 and gave the stock a “sell” rating in a research note on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Allison Transmission currently has a consensus rating of “Hold” and a consensus price target of $99.00.

Allison Transmission 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.