Edgestream Partners L.P. Invests $1.05 Million in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Edgestream Partners L.P. bought a new position in Allison Transmission Holdings, Inc. (NYSE:ALSN) during the 2nd quarter, HoldingsChannel reports. The fund bought 13,809 shares of the auto parts company’s stock, valued at approximately $1,048,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position 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 worth $267,359,000 after buying an additional 39,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Allison Transmission by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,893,618 shares of the auto parts company’s stock worth $143,716,000 after buying an additional 41,168 shares in the last quarter. Norges Bank acquired a new position in Allison Transmission during the 4th quarter worth about $56,334,000. Allianz Asset Management GmbH lifted its position in Allison Transmission by 7.7% during the 4th quarter. Allianz Asset Management GmbH now owns 941,405 shares of the auto parts company’s stock worth $54,743,000 after buying an additional 67,332 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Allison Transmission by 5.9% during the 2nd quarter. Federated Hermes Inc. now owns 906,370 shares of the auto parts company’s stock worth $68,793,000 after buying an additional 50,625 shares in the last quarter. Institutional investors and hedge funds own 96.90% of the company’s stock.

Insider Activity at Allison Transmission

In related news, SVP John Coll sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was 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. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Allison Transmission Stock Performance

Shares of NYSE:ALSN opened at $91.05 on Friday. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 1.54 and a beta of 0.99. The firm’s 50 day simple moving average is $86.70 and its 200 day simple moving average is $80.12. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.78 and a quick ratio of 2.19. Allison Transmission Holdings, Inc. has a fifty-two week low of $50.13 and a fifty-two week high of $92.82.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Thursday, July 25th. The auto parts company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.09. The business had revenue of $816.00 million for the quarter, compared to the consensus estimate of $799.44 million. Allison Transmission had a net margin of 21.95% and a return on equity of 52.18%. Allison Transmission’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company posted $1.92 EPS. As a group, sell-side analysts forecast that Allison Transmission Holdings, Inc. will post 7.89 earnings per share for the current year.

Allison Transmission Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. Allison Transmission’s dividend payout ratio is 13.35%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALSN. Citigroup began coverage on shares of Allison Transmission in a research report on Wednesday, June 26th. They set a “neutral” rating and a $80.00 price target on the stock. StockNews.com downgraded shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 2nd. Raymond James initiated coverage on shares of Allison Transmission in a research report on Friday, June 28th. They set an “outperform” rating and a $85.00 target price on the stock. Robert W. Baird upped their target price on shares of Allison Transmission from $87.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, The Goldman Sachs Group upped their target price on shares of Allison Transmission from $63.00 to $72.00 and gave the company a “sell” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.57.

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.