Hsbc Holdings PLC Sells 278 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Hsbc Holdings PLC lowered its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 1.0% in the 2nd quarter, Holdings Channel reports. The firm owned 28,183 shares of the auto parts company’s stock after selling 278 shares during the quarter. Hsbc Holdings PLC’s holdings in Allison Transmission were worth $2,136,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Versant Capital Management Inc raised its holdings in shares of Allison Transmission by 1,200.0% in the 2nd quarter. Versant Capital Management Inc now owns 364 shares of the auto parts company’s stock valued at $28,000 after acquiring an additional 336 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Allison Transmission in the 2nd quarter valued at about $33,000. TFO Wealth Partners LLC raised its holdings in shares of Allison Transmission by 8,975.0% in the 4th quarter. TFO Wealth Partners LLC now owns 726 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 718 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Allison Transmission by 139.8% in the 2nd quarter. Fifth Third Bancorp now owns 868 shares of the auto parts company’s stock valued at $66,000 after acquiring an additional 506 shares in the last quarter. Finally, Quent Capital LLC raised its holdings in shares of Allison Transmission by 24.0% in the 2nd quarter. Quent Capital LLC now owns 889 shares of the auto parts company’s stock valued at $68,000 after acquiring an additional 172 shares in the last quarter. Institutional investors own 96.90% of the company’s stock.

Allison Transmission Price Performance

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

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Thursday, July 25th. The auto parts company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.09. The business had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $799.44 million. Allison Transmission had a return on equity of 52.18% and a net margin of 21.95%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.92 EPS. Analysts forecast that Allison Transmission Holdings, Inc. will post 7.85 EPS for the current year.

Allison Transmission Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Allison Transmission’s dividend payout ratio is currently 13.35%.

Insider Transactions at Allison Transmission

In other news, SVP John Coll sold 2,000 shares of Allison Transmission stock in a transaction that occurred 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 sale, the senior vice president now directly owns 12,420 shares in the company, valued at approximately $1,129,971.60. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Raymond James assumed coverage on Allison Transmission in a report on Friday, June 28th. They issued an “outperform” rating and a $85.00 price target on the stock. Citigroup assumed coverage on Allison Transmission in a report on Wednesday, June 26th. They issued a “neutral” rating and a $80.00 price target on the stock. The Goldman Sachs Group raised 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. Robert W. Baird raised their price objective on Allison Transmission from $87.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, StockNews.com cut 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.