Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) rose with Fifth Third Bancorp

VaselineAugust 28, 2024

0 5 minutes read

Fifth Third Bancorp increased its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) by 139.8% in the second quarter, according to the company in its most recent SEC disclosure. The institutional investor owned 868 shares of the auto parts company’s stock after purchasing an additional 506 shares during the quarter. Fifth Third Bancorp’s holdings in Allison Transmission were worth $66,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ALSN. Versant Capital Management Inc boosted its stake in Allison Transmission by 1,200.0% in the second quarter. Versant Capital Management Inc now owns 364 shares of the auto parts company’s stock worth $28,000 after purchasing an additional 336 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in Allison Transmission in the second quarter valued at approximately $33,000. SRS Capital Advisors Inc. boosted its holdings in Allison Transmission by 256.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 592 shares of the auto parts company’s stock valued at $34,000 after acquiring an additional 426 shares during the last quarter. TFO Wealth Partners LLC boosted its position in shares of Allison Transmission by 8,975.0% during the 4th quarter. TFO Wealth Partners LLC now owns 726 shares of the auto parts company’s stock valued at $42,000 after buying an additional 718 shares in the last quarter. Finally, Quent Capital LLC raised its stake in Allison Transmission by 24.0% in the second quarter. Quent Capital LLC now owns 889 shares of the auto parts company’s stock worth $68,000 after buying an additional 172 shares in the last quarter. 96.90% of shares are owned by institutional investors and hedge funds.

Allison transmission price performance

ALSN opened at $89.79 on Tuesday. The stock has a fifty day moving average price of $81.52 and a 200 day moving average price of $77.89. The company has a current ratio of 2.78, a quick ratio of 1.95, and a debt-to-equity ratio of 1.62. Allison Transmission Holdings, Inc. has a 1 year low of $50.13 and a 1 year high of $91.44. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.56 and a beta of 0.99.

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Allison Transmission (NYSE:ALSN – Get Your Free Report ) last announced its quarterly earnings results on Thursday, July 25th. The auto parts company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.09. Allison Transmission had a return on equity of 52.18% and a net margin of 21.95%. The business had revenue of $816.00 million during the quarter, compared to analyst estimates of $799.44 million. During the same period in the previous year, the company earned $1.92 EPS. The company’s revenue rose 4.2% year-over-year. Analysts estimate that Allison Transmission Holdings, Inc. will record 7.89 EPS for the current fiscal year.

Allison Transmission Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, August 19. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 1.11%. Allison Transmission’s dividend yield is currently 13.35%.

Analysts on Wall Street are forecasting an increase

A number of analysts have recently analyzed the action. Raymond James began coverage on shares of Allison Transmission in a report on Friday, June 28th. They set an “outperform” rating and a $85.00 price target for the company. StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 20th. Robert W. Baird lifted their price target on Allison Transmission from $87.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Goldman Sachs Group boosted their price objective on shares of Allison Transmission from $63.00 to $72.00 and gave the company a “sell” rating in a research note on Monday, July 29th. Finally, Citigroup began coverage on shares of Allison Transmission in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $80.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Allison Transmission has an average rating of “Hold” and a consensus price target of $79.57, based on data from MarketBeat.

Read Allison Transmission’s latest stock report

Insider activity at Allison Transmission

In other Allison Transmission news, VP Rafael Basso sold 12,624 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $74.48, for a total transaction of $940,235.52. Following the transaction, the vice president now directly owns 4,624 shares of the company’s stock, valued at $344,395.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Allison Transmission news, VP Rafael Basso sold 12,624 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $74.48, for a total transaction of $940,235.52. Following the completion of the sale, the vice president now owns 4,624 shares of the company’s stock, valued at $344,395.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, SVP John Coll sold 2,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $75.06, for a total value of $150,120.00. Following the transaction, the senior vice president now owns 14,420 shares in the company, valued at approximately $1,082,365.20. The disclosure for this sale can be found here. 1.10% of shares are owned by company insiders.

Allison transmission profile

(Free Report)

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures and sells fully automatic transmissions for medium and heavy commercial vehicles and medium and heavy tactical defense vehicles in the US and electrified powertrains worldwide. It offers fully automatic transmissions for commercial on-highway, off-highway and defense services and electric and all-electric hybrid systems.