Legacy Wealth Asset Management LLC Sells 2,072 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Legacy Wealth Asset Management LLC trimmed its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 27.8% during the 1st quarter, Holdings Channel reports. The firm owned 5,370 shares of the auto parts company’s stock after selling 2,072 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Allison Transmission were worth $436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Treasurer of the State of North Carolina increased its holdings in Allison Transmission by 5.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 50,000 shares of the auto parts company’s stock valued at $2,953,000 after acquiring an additional 2,529 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Allison Transmission by 104.0% in the 3rd quarter. Lazard Asset Management LLC now owns 217,189 shares of the auto parts company’s stock worth $12,827,000 after buying an additional 110,722 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Allison Transmission by 6.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 43,548 shares of the auto parts company’s stock worth $2,572,000 after purchasing an additional 2,667 shares during the period. AXQ Capital LP purchased a new position in shares of Allison Transmission during the 3rd quarter worth about $242,000. Finally, Seven Eight Capital LP boosted its stake in shares of Allison Transmission by 17.4% during the 3rd quarter. Seven Eight Capital LP now owns 7,788 shares of the auto parts company’s stock worth $460,000 after purchasing an additional 1,155 shares during the period. 96.90% of the stock is currently owned by institutional investors.

Allison Transmission Price Performance

Allison Transmission stock opened at $75.95 on Friday. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 1.40 and a beta of 1.00. The company has a debt-to-equity ratio of 1.79, a current ratio of 2.51 and a quick ratio of 1.95. Allison Transmission Holdings, Inc. has a 1 year low of $50.13 and a 1 year high of $83.42. The firm has a 50-day moving average of $74.91 and a two-hundred day moving average of $71.14.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Thursday, April 25th. The auto parts company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.01. The company had revenue of $789.00 million during the quarter, compared to analysts’ expectations of $772.37 million. Allison Transmission had a net margin of 21.80% and a return on equity of 55.83%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.85 EPS. On average, research analysts forecast that Allison Transmission Holdings, Inc. will post 7.65 earnings per share for the current year.

Allison Transmission Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a $0.25 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. Allison Transmission’s dividend payout ratio is currently 13.35%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALSN. The Goldman Sachs Group lifted their price target on shares of Allison Transmission from $55.00 to $63.00 and gave the stock a “sell” rating in a research note on Tuesday, April 16th. Robert W. Baird lifted their price target on shares of Allison Transmission from $84.00 to $87.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Oppenheimer lifted their price target on shares of Allison Transmission from $67.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. lifted their price target on shares of Allison Transmission from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Finally, Raymond James began coverage on shares of Allison Transmission in a research note on Friday, June 28th. They set an “outperform” rating and a $85.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.25.

Insider Activity

In other news, VP Rafael Basso sold 12,624 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $74.48, for a total value of $940,235.52. Following the completion of the sale, the vice president now owns 4,624 shares in the company, valued at approximately $344,395.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Rafael Basso sold 12,624 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $74.48, for a total value of $940,235.52. Following the completion of the sale, the vice president now owns 4,624 shares in the company, valued at approximately $344,395.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John Coll sold 2,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $75.06, for a total transaction of $150,120.00. Following the completion of the sale, the senior vice president now owns 14,420 shares of the company’s stock, valued at approximately $1,082,365.20. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

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.