Mackenzie Financial Corp Lowers Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Mackenzie Financial Corp reduced its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 18.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,102 shares of the auto parts company’s stock after selling 1,385 shares during the period. Mackenzie Financial Corp’s holdings in Allison Transmission were worth $584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Transce3nd LLC acquired a new stake in shares of Allison Transmission during the fourth quarter valued at about $25,000. Vermillion Wealth Management Inc. acquired a new position in shares of Allison Transmission in the 4th quarter worth approximately $31,000. SRH Advisors LLC boosted its position in shares of Allison Transmission by 95.0% during the 1st quarter. SRH Advisors LLC now owns 468 shares of the auto parts company’s stock worth $45,000 after purchasing an additional 228 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Allison Transmission by 363.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 500 shares of the auto parts company’s stock valued at $48,000 after purchasing an additional 392 shares during the last quarter. Finally, Private Trust Co. NA raised its position in Allison Transmission by 32.8% in the first quarter. Private Trust Co. NA now owns 636 shares of the auto parts company’s stock valued at $61,000 after purchasing an additional 157 shares during the period. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley raised their price target on Allison Transmission from $94.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Bank of America raised their target price on Allison Transmission from $74.00 to $79.00 and gave the company an “underperform” rating in a report on Monday, June 16th. Citigroup dropped their target price on Allison Transmission from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, June 24th. Raymond James Financial cut their price target on shares of Allison Transmission from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, July 21st. Finally, Wall Street Zen cut shares of Allison Transmission from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Allison Transmission currently has an average rating of “Hold” and an average price target of $98.38.

Insider Activity

In related news, VP Ryan A. Milburn sold 3,412 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $105.24, for a total transaction of $359,078.88. Following the completion of the transaction, the vice president owned 11,924 shares in the company, valued at approximately $1,254,881.76. The trade was a 22.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Allison Transmission Stock Performance

Shares of Allison Transmission stock opened at $88.18 on Thursday. The business has a 50-day simple moving average of $94.06 and a 200-day simple moving average of $98.28. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.37 and a current ratio of 3.05. Allison Transmission Holdings, Inc. has a one year low of $80.39 and a one year high of $122.53. The company has a market cap of $7.43 billion, a PE ratio of 10.02 and a beta of 0.97.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings results on Monday, August 4th. The auto parts company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.09. Allison Transmission had a net margin of 23.81% and a return on equity of 46.30%. The company had revenue of $814.00 million during the quarter, compared to the consensus estimate of $811.05 million. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The firm’s quarterly revenue was down .2% on a year-over-year basis. On average, equities research analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

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.