Amalgamated Bank Sells 2,064 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Amalgamated Bank decreased its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 11.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,407 shares of the auto parts company’s stock after selling 2,064 shares during the quarter. Amalgamated Bank’s holdings in Allison Transmission were worth $1,169,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its position in Allison Transmission by 111.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,101 shares of the auto parts company’s stock valued at $463,000 after acquiring an additional 3,218 shares during the last quarter. Argent Trust Co grew its holdings in shares of Allison Transmission by 6.6% in the second quarter. Argent Trust Co now owns 4,463 shares of the auto parts company’s stock worth $339,000 after purchasing an additional 277 shares during the last quarter. Sargent Investment Group LLC purchased a new position in Allison Transmission in the 2nd quarter worth about $231,000. Edgestream Partners L.P. purchased a new position in Allison Transmission in the 2nd quarter worth about $1,048,000. Finally, Renaissance Technologies LLC lifted its holdings in Allison Transmission by 1.1% during the 2nd quarter. Renaissance Technologies LLC now owns 3,522,519 shares of the auto parts company’s stock valued at $267,359,000 after buying an additional 39,700 shares in the last quarter. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ALSN shares. Robert W. Baird raised their target price on shares of Allison Transmission from $87.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Citigroup assumed coverage on Allison Transmission in a research report on Wednesday, June 26th. They set a “neutral” rating and a $80.00 target price for the company. Raymond James assumed coverage on Allison Transmission in a research note on Friday, June 28th. They set an “outperform” rating and a $85.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Allison Transmission from $63.00 to $72.00 and gave the company a “sell” rating in a report on Monday, July 29th. Finally, StockNews.com cut shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a report on Monday, September 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $79.57.

Allison Transmission Stock Performance

Shares of Allison Transmission stock opened at $95.90 on Friday. The company has a market capitalization of $8.39 billion, a PE ratio of 12.80, a P/E/G ratio of 1.64 and a beta of 0.99. The company has a 50-day simple moving average of $87.33 and a two-hundred day simple moving average of $80.52. Allison Transmission Holdings, Inc. has a one year low of $50.13 and a one year high of $96.38. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.19 and a current ratio of 2.78.

Allison Transmission (NYSE:ALSN) last posted its earnings results on Thursday, July 25th. The auto parts company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.09. Allison Transmission had a net margin of 21.95% and a return on equity of 52.18%. The company had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $799.44 million. During the same quarter in the prior year, the company posted $1.92 earnings per share. Allison Transmission’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts expect that Allison Transmission Holdings, Inc. will post 7.85 EPS for the current fiscal year.

Allison Transmission Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.04%. Allison Transmission’s dividend payout ratio (DPR) is 13.35%.

Insider Activity at Allison Transmission

In other Allison Transmission news, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $90.98, for a total value of $181,960.00. Following the completion of the sale, the senior vice president now owns 12,420 shares of the company’s stock, valued at $1,129,971.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

About Allison Transmission

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.