Victory Capital Management Inc. Raises Stake in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Victory Capital Management Inc. increased its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 86.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 245,148 shares of the auto parts company’s stock after buying an additional 113,868 shares during the period. Victory Capital Management Inc.’s holdings in Allison Transmission were worth $23,551,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Versant Capital Management Inc lifted its holdings in Allison Transmission by 1,200.0% during the second quarter. Versant Capital Management Inc now owns 364 shares of the auto parts company’s stock valued at $28,000 after purchasing an additional 336 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in Allison Transmission during the second quarter valued at about $33,000. Venturi Wealth Management LLC lifted its holdings in Allison Transmission by 27.8% during the third quarter. Venturi Wealth Management LLC now owns 744 shares of the auto parts company’s stock valued at $71,000 after purchasing an additional 162 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Allison Transmission during the third quarter valued at about $82,000. Finally, Fifth Third Bancorp increased its position in shares of Allison Transmission by 139.8% during the second quarter. Fifth Third Bancorp now owns 868 shares of the auto parts company’s stock valued at $66,000 after buying an additional 506 shares during the period. 96.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Thomas Eifert sold 1,741 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $100.00, for a total value of $174,100.00. Following the completion of the sale, the vice president now owns 9,601 shares of the company’s stock, valued at $960,100. This trade represents a 15.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction on 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 directly owns 12,420 shares of the company’s stock, valued at $1,129,971.60. The trade was a 13.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,741 shares of company stock valued at $546,060. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ALSN has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on Allison Transmission from $80.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. StockNews.com upgraded Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. The Goldman Sachs Group upped their price objective on shares of Allison Transmission from $72.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, November 1st. Citigroup upped their price objective on shares of Allison Transmission from $97.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Bank of America upped their price objective on shares of Allison Transmission from $67.00 to $77.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 30th. Two equities research analysts have 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.25.

Allison Transmission Stock Up 1.3 %

Shares of ALSN opened at $117.41 on Tuesday. The firm has a market cap of $10.17 billion, a P/E ratio of 14.14, a P/E/G ratio of 2.07 and a beta of 0.98. The stock has a 50 day simple moving average of $100.17 and a two-hundred day simple moving average of $87.07. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.83 and a quick ratio of 2.25. Allison Transmission Holdings, Inc. has a 1 year low of $53.00 and a 1 year high of $121.36.

Allison Transmission (NYSE:ALSN) last issued its earnings results on Tuesday, October 29th. The auto parts company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.26. The business had revenue of $824.00 million during the quarter, compared to analyst estimates of $790.08 million. Allison Transmission had a return on equity of 51.13% and a net margin of 22.66%. Allison Transmission’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.76 earnings per share. On average, analysts forecast that Allison Transmission Holdings, Inc. will post 8.21 earnings per share for the current fiscal year.

Allison Transmission Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, November 18th. Allison Transmission’s dividend payout ratio (DPR) is presently 12.18%.

Allison Transmission Company 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.