Concurrent Investment Advisors LLC Takes $281,000 Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Concurrent Investment Advisors LLC bought a new position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,922 shares of the auto parts company’s stock, valued at approximately $281,000.

A number of other hedge funds have also recently added to or reduced their stakes in ALSN. Versant Capital Management Inc raised its position 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 worth $28,000 after buying an additional 336 shares during the period. Triad Wealth Partners LLC purchased a new stake in shares of Allison Transmission during the 2nd quarter valued at about $33,000. Fifth Third Bancorp lifted its position in Allison Transmission by 139.8% during the 2nd quarter. Fifth Third Bancorp now owns 868 shares of the auto parts company’s stock worth $66,000 after acquiring an additional 506 shares in the last quarter. Quent Capital LLC boosted its holdings in Allison Transmission by 24.0% in the 2nd quarter. Quent Capital LLC now owns 889 shares of the auto parts company’s stock worth $68,000 after acquiring an additional 172 shares during the period. Finally, Covestor Ltd lifted its position in shares of Allison Transmission by 307.2% during the first quarter. Covestor Ltd now owns 965 shares of the auto parts company’s stock worth $78,000 after purchasing an additional 728 shares in the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

Allison Transmission Trading Up 0.9 %

Shares of NYSE:ALSN opened at $120.01 on Tuesday. The company has a quick ratio of 2.25, a current ratio of 2.83 and a debt-to-equity ratio of 1.48. The company’s 50-day moving average price is $97.23 and its 200 day moving average price is $85.57. The company has a market cap of $10.40 billion, a PE ratio of 14.62, a P/E/G ratio of 2.12 and a beta of 0.98. Allison Transmission Holdings, Inc. has a fifty-two week low of $52.36 and a fifty-two week high of $121.36.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.26. Allison Transmission had a return on equity of 51.13% and a net margin of 22.66%. The company had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $790.08 million. During the same quarter in the previous year, the company posted $1.76 earnings per share. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts anticipate that Allison Transmission Holdings, Inc. will post 8.2 earnings per share for the current year.

Allison Transmission Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors 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 0.83%. The ex-dividend date is Monday, November 18th. Allison Transmission’s dividend payout ratio is currently 12.18%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of Allison Transmission from $90.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird boosted their price target on Allison Transmission from $103.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Allison Transmission from $80.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Citigroup lifted their price target on shares of Allison Transmission from $97.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group boosted their price target on Allison Transmission from $72.00 to $82.00 and gave the company a “sell” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Allison Transmission currently has an average rating of “Hold” and an average target price of $92.25.

Insider Activity at Allison Transmission

In other Allison Transmission news, SVP John Coll sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $90.98, for a total transaction 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Thomas Eifert sold 1,741 shares of Allison Transmission stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $100.00, for a total value of $174,100.00. Following the transaction, the vice president now owns 9,601 shares of the company’s stock, valued at $960,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $181,960.00. Following the completion of the transaction, the senior vice president now owns 12,420 shares in the company, valued at approximately $1,129,971.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,741 shares of company stock worth $546,060 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Allison Transmission 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.