Kingsview Wealth Management LLC Purchases New Stake in Allison Transmission Holdings, Inc. $ALSN

Kingsview Wealth Management LLC acquired a new position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) during the second quarter, HoldingsChannel.com reports. The firm acquired 7,266 shares of the auto parts company’s stock, valued at approximately $819,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its holdings in Allison Transmission by 341.3% in the 1st quarter. Jane Street Group LLC now owns 288,674 shares of the auto parts company’s stock valued at $27,617,000 after buying an additional 223,253 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Allison Transmission by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 214,907 shares of the auto parts company’s stock worth $20,560,000 after acquiring an additional 11,542 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Allison Transmission by 9.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,892 shares of the auto parts company’s stock worth $180,000 after acquiring an additional 165 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Allison Transmission by 441.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,018 shares of the auto parts company’s stock worth $97,000 after acquiring an additional 830 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Allison Transmission during the 2nd quarter valued at about $6,111,000. Institutional investors and hedge funds own 96.90% of the company’s stock.

Insider Buying and Selling

In related news, insider Eric C. Scroggins sold 1,050 shares of Allison Transmission stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $125.00, for a total value of $131,250.00. Following the completion of the sale, the insider owned 16,604 shares in the company, valued at approximately $2,075,500. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Graziosi sold 26,708 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $132.97, for a total value of $3,551,362.76. Following the completion of the sale, the chief executive officer directly owned 304,843 shares in the company, valued at approximately $40,534,973.71. The trade was a 8.06% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

Allison Transmission Trading Up 0.1%

NYSE ALSN opened at $126.41 on Monday. The firm’s 50-day moving average is $120.12 and its two-hundred day moving average is $119.85. Allison Transmission Holdings, Inc. has a 12 month low of $76.01 and a 12 month high of $137.62. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.81 and a quick ratio of 1.17. The stock has a market capitalization of $10.44 billion, a P/E ratio of 20.10, a PEG ratio of 0.68 and a beta of 0.95.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Monday, August 3rd. The auto parts company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.25. Allison Transmission had a net margin of 12.02% and a return on equity of 38.18%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the business earned $2.29 earnings per share. The business’s revenue for the quarter was up 92.4% on a year-over-year basis. On average, sell-side analysts anticipate that Allison Transmission Holdings, Inc. will post 9.94 earnings per share for the current year.

Allison Transmission Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 21st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.9%. Allison Transmission’s dividend payout ratio (DPR) is presently 18.44%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALSN. Morgan Stanley upped their price objective on shares of Allison Transmission from $126.00 to $130.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Weiss Ratings upgraded shares of Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Wells Fargo & Company increased their price target on shares of Allison Transmission from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their price target on shares of Allison Transmission from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Citigroup reduced their price target on shares of Allison Transmission from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.17.

Allison Transmission Company 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.