NewEdge Wealth LLC Grows Stock Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

NewEdge Wealth LLC increased its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 478,519 shares of the auto parts company’s stock after buying an additional 51,976 shares during the quarter. Allison Transmission accounts for about 0.9% of NewEdge Wealth LLC’s investment portfolio, making the stock its 21st largest position. NewEdge Wealth LLC’s holdings in Allison Transmission were worth $51,709,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. FMR LLC increased its position in Allison Transmission by 24.3% in the third quarter. FMR LLC now owns 12,745,697 shares of the auto parts company’s stock worth $1,224,479,000 after buying an additional 2,493,310 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Allison Transmission during the 3rd quarter valued at approximately $52,156,000. Loomis Sayles & Co. L P increased its holdings in Allison Transmission by 252.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 593,044 shares of the auto parts company’s stock worth $56,974,000 after acquiring an additional 424,813 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Allison Transmission by 34.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 914,918 shares of the auto parts company’s stock worth $87,896,000 after acquiring an additional 233,214 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Allison Transmission by 86.7% during the third quarter. Victory Capital Management Inc. now owns 245,148 shares of the auto parts company’s stock valued at $23,551,000 after purchasing an additional 113,868 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors.

Allison Transmission Price Performance

NYSE:ALSN opened at $100.41 on Thursday. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 12.08 and a beta of 1.00. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42. The business has a 50 day simple moving average of $110.92 and a 200-day simple moving average of $104.83. Allison Transmission Holdings, Inc. has a 1 year low of $71.49 and a 1 year high of $122.53.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. Equities analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.08%. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 3rd. Allison Transmission’s dividend payout ratio is presently 12.03%.

Allison Transmission declared that its Board of Directors has approved a share buyback program on Thursday, February 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the auto parts company to repurchase up to 57.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

ALSN has been the topic of several recent analyst reports. StockNews.com downgraded shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised their price target on Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 12th. Robert W. Baird upped their price objective on Allison Transmission from $103.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Citigroup dropped their price target on Allison Transmission from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Finally, Bank of America raised their target price on shares of Allison Transmission from $67.00 to $77.00 and gave the company an “underperform” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $100.75.

Insider Buying and Selling

In other Allison Transmission news, CEO David S. Graziosi sold 11,590 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $119.44, for a total value of $1,384,309.60. Following the transaction, the chief executive officer now owns 168,833 shares of the company’s stock, valued at $20,165,413.52. This represents a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP John Coll sold 2,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $108.40, for a total value of $216,800.00. Following the completion of the sale, the senior vice president now owns 6,420 shares in the company, valued at approximately $695,928. The trade was a 23.75 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is currently 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.