Renaissance Technologies LLC Raises Stake in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Renaissance Technologies LLC boosted its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 1.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,522,519 shares of the auto parts company’s stock after purchasing an additional 39,700 shares during the period. Allison Transmission accounts for approximately 0.5% of Renaissance Technologies LLC’s investment portfolio, making the stock its 26th biggest holding. Renaissance Technologies LLC’s holdings in Allison Transmission were worth $267,359,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its position in Allison Transmission by 1,200.0% during the 2nd 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 purchased a new position in Allison Transmission during the 2nd quarter worth $33,000. TFO Wealth Partners LLC grew its position in 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 worth $42,000 after purchasing an additional 718 shares during the last quarter. Fifth Third Bancorp grew 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 purchasing an additional 506 shares during the last quarter. Finally, Quent Capital LLC grew its position in Allison Transmission by 24.0% during the 2nd quarter. Quent Capital LLC now owns 889 shares of the auto parts company’s stock worth $68,000 after purchasing an additional 172 shares during the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ALSN shares. 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 price objective on the stock. Citigroup initiated coverage on shares of Allison Transmission in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $80.00 target price for the company. Robert W. Baird raised their target price on shares of Allison Transmission from $87.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. The Goldman Sachs Group raised their target price on shares of Allison Transmission from $63.00 to $72.00 and gave the stock a “sell” rating in a research note on Monday, July 29th. Finally, StockNews.com cut shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.57.

Insiders Place Their Bets

In other Allison Transmission news, SVP John Coll sold 2,000 shares of Allison Transmission stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $75.06, for a total transaction of $150,120.00. Following the completion of the transaction, the senior vice president now owns 14,420 shares in the company, valued at $1,082,365.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Allison Transmission Stock Up 1.4 %

Shares of NYSE ALSN opened at $87.38 on Monday. The company has a quick ratio of 2.19, a current ratio of 2.78 and a debt-to-equity ratio of 1.62. Allison Transmission Holdings, Inc. has a 52 week low of $50.13 and a 52 week high of $92.82. The firm has a 50-day moving average price of $85.34 and a 200 day moving average price of $79.70. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings data on Thursday, July 25th. The auto parts company reported $2.13 EPS for the quarter, beating the consensus estimate of $2.04 by $0.09. The firm had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $799.44 million. Allison Transmission had a net margin of 21.95% and a return on equity of 52.18%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.92 earnings per share. Equities research analysts anticipate that Allison Transmission Holdings, Inc. will post 7.89 EPS for the current fiscal year.

Allison Transmission Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Monday, August 19th. Allison Transmission’s payout ratio is currently 13.35%.

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.