WCM Investment Management LLC bought a new position in Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) during the third quarter, Holdings Channel reports. The fund bought 2,621 shares of the auto parts company’s stock, valued at approximately $253,000.
A number of other institutional investors and hedge funds also recently modified their holdings of ALSN. Versor Investments LP purchased a new position in Allison Transmission in the 3rd quarter worth about $490,000. Venturi Wealth Management LLC boosted its holdings in shares of Allison Transmission by 27.8% in the third quarter. Venturi Wealth Management LLC now owns 744 shares of the auto parts company’s stock worth $71,000 after buying an additional 162 shares during the period. Meritage Portfolio Management increased its position in shares of Allison Transmission by 10.6% in the third quarter. Meritage Portfolio Management now owns 24,115 shares of the auto parts company’s stock worth $2,317,000 after acquiring an additional 2,311 shares in the last quarter. Covestor Ltd raised its holdings in shares of Allison Transmission by 35.1% during the third quarter. Covestor Ltd now owns 936 shares of the auto parts company’s stock valued at $90,000 after acquiring an additional 243 shares during the period. Finally, Sheets Smith Wealth Management purchased a new stake in shares of Allison Transmission in the 3rd quarter valued at approximately $479,000. 96.90% of the stock is owned by institutional investors and hedge funds.
Allison Transmission Stock Down 1.3 %
Shares of Allison Transmission stock opened at $118.46 on Wednesday. The firm has a market cap of $10.26 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 2.12 and a beta of 0.98. The stock has a 50-day simple moving average of $97.78 and a 200-day simple moving average of $85.85. Allison Transmission Holdings, Inc. has a 52-week low of $52.36 and a 52-week high of $121.36. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.83 and a quick ratio of 2.25.
Allison Transmission Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. Allison Transmission’s dividend payout ratio is currently 12.18%.
Wall Street Analysts Forecast Growth
ALSN has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Allison Transmission from $80.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. 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. StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Citigroup lifted their target price on Allison Transmission from $97.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer increased their price target on shares of Allison Transmission from $90.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $92.25.
View Our Latest Stock Report on ALSN
Insider Transactions at Allison Transmission
In related news, VP Thomas Eifert sold 1,741 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $100.00, for a total value of $174,100.00. Following the transaction, the vice president now directly owns 9,601 shares of the company’s stock, valued at approximately $960,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Allison Transmission news, VP Thomas Eifert sold 1,741 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $100.00, for a total transaction of $174,100.00. Following the completion of the sale, the vice president now directly owns 9,601 shares in the company, valued at $960,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Coll sold 2,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $90.98, for a total transaction of $181,960.00. Following the completion of the sale, the senior vice president now directly owns 12,420 shares of the company’s stock, valued at approximately $1,129,971.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,741 shares of company stock worth $546,060. 1.10% of the stock is owned by corporate insiders.
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.
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