Cresset Asset Management LLC Grows Stake in Allison Transmission Holdings, Inc. $ALSN

Cresset Asset Management LLC increased its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 10.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,746 shares of the auto parts company’s stock after purchasing an additional 5,083 shares during the period. Cresset Asset Management LLC owned 0.06% of Allison Transmission worth $4,562,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in Allison Transmission by 18.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,915,887 shares of the auto parts company’s stock valued at $181,741,000 after buying an additional 304,974 shares in the last quarter. State Street Corp lifted its holdings in shares of Allison Transmission by 1.1% in the second quarter. State Street Corp now owns 1,652,290 shares of the auto parts company’s stock worth $156,951,000 after buying an additional 17,783 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Allison Transmission by 35.7% in the second quarter. Federated Hermes Inc. now owns 1,544,799 shares of the auto parts company’s stock worth $146,740,000 after buying an additional 406,540 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Allison Transmission by 128.2% during the second quarter. Qube Research & Technologies Ltd now owns 1,215,897 shares of the auto parts company’s stock worth $115,498,000 after acquiring an additional 683,035 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Allison Transmission during the second quarter worth $100,347,000. 96.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on ALSN shares. Morgan Stanley lifted their price target on shares of Allison Transmission from $97.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Oppenheimer increased their price objective on shares of Allison Transmission from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Citigroup raised their price objective on Allison Transmission from $110.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Weiss Ratings cut Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 25th. Finally, Raymond James Financial boosted their target price on Allison Transmission from $110.00 to $115.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $111.11.

Insider Activity at Allison Transmission

In other news, SVP John Coll sold 1,791 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $98.79, for a total transaction of $176,932.89. Following the transaction, the senior vice president owned 10,021 shares of the company’s stock, valued at approximately $989,974.59. The trade was a 15.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Allison Transmission Stock Down 4.2%

Shares of NYSE:ALSN opened at $117.03 on Friday. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.80 and a beta of 0.96. Allison Transmission Holdings, Inc. has a 12 month low of $76.01 and a 12 month high of $128.85. The company has a current ratio of 4.85, a quick ratio of 4.17 and a debt-to-equity ratio of 1.55. The company has a 50-day moving average price of $112.17 and a 200 day moving average price of $96.08.

Allison Transmission Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Monday, March 9th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, March 9th. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.27. Allison Transmission’s dividend payout ratio is 14.73%.

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.