Commonwealth Financial Services LLC Makes New $210,000 Investment in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Commonwealth Financial Services LLC bought a new position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,800 shares of the auto parts company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ensign Peak Advisors Inc increased its holdings in shares of Allison Transmission by 33.8% in the second quarter. Ensign Peak Advisors Inc now owns 53,898 shares of the auto parts company’s stock valued at $4,091,000 after purchasing an additional 13,625 shares in the last quarter. Sei Investments Co. boosted its position in Allison Transmission by 34.7% in the 2nd quarter. Sei Investments Co. now owns 256,410 shares of the auto parts company’s stock valued at $19,461,000 after buying an additional 66,011 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Allison Transmission by 2.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 56,700 shares of the auto parts company’s stock valued at $4,304,000 after buying an additional 1,500 shares during the period. Intech Investment Management LLC bought a new stake in shares of Allison Transmission during the second quarter worth $217,000. Finally, Inspire Investing LLC lifted its stake in shares of Allison Transmission by 4.9% during the second quarter. Inspire Investing LLC now owns 4,622 shares of the auto parts company’s stock valued at $351,000 after acquiring an additional 214 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Raymond James started coverage on Allison Transmission in a research report on Friday, June 28th. They issued an “outperform” rating and a $85.00 price objective for the company. Citigroup initiated coverage on shares of Allison Transmission in a research note on Wednesday, June 26th. They set a “neutral” rating and a $80.00 price target for the company. The Goldman Sachs Group raised 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. StockNews.com cut shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 2nd. Finally, Robert W. Baird raised their price target on Allison Transmission from $87.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $79.57.

Insider Buying and Selling

In other news, SVP John Coll sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $90.98, for a total value of $181,960.00. Following the completion of the transaction, the senior vice president now owns 12,420 shares in the company, valued at $1,129,971.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Allison Transmission Trading Up 0.5 %

Shares of NYSE ALSN opened at $91.50 on Tuesday. Allison Transmission Holdings, Inc. has a twelve month low of $50.13 and a twelve month high of $92.82. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 1.54 and a beta of 0.99. The company has a quick ratio of 2.19, a current ratio of 2.78 and a debt-to-equity ratio of 1.62. The company’s fifty day moving average is $86.93 and its 200-day moving average is $80.30.

Allison Transmission (NYSE:ALSN) last posted its earnings results on Thursday, July 25th. The auto parts company reported $2.13 earnings per share 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 firm had revenue of $816.00 million for the quarter, compared to analyst estimates of $799.44 million. During the same period in the previous year, the company posted $1.92 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts predict that Allison Transmission Holdings, Inc. will post 7.89 EPS for the current year.

Allison Transmission Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. Allison Transmission’s payout ratio is 13.35%.

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.