NewEdge Wealth LLC Has $51.71 Million Stake in Allison Transmission Holdings, Inc. (NYSE:ALSN)

NewEdge Wealth LLC increased its stake in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 478,519 shares of the auto parts company's stock after buying an additional 51,976 shares during the quarter. Allison Transmission makes up 0.9% of NewEdge Wealth LLC's holdings, making the stock its 21st biggest position. NewEdge Wealth LLC owned about 0.55% of Allison Transmission worth $51,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. SRH Advisors LLC acquired a new position in shares of Allison Transmission during the fourth quarter worth $26,000. World Investment Advisors LLC bought a new stake in Allison Transmission during the third quarter worth $29,000. Kestra Investment Management LLC purchased a new position in shares of Allison Transmission during the 4th quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Allison Transmission during the 4th quarter valued at $31,000. Finally, Quarry LP boosted its stake in Allison Transmission by 46.7% during the third quarter. Quarry LP now owns 358 shares of the auto parts company's stock valued at $34,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds own 96.90% of the company's stock.

Insider Buying and Selling

In related news, SVP John Coll sold 2,000 shares of the company's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the completion of the sale, the senior vice president now owns 6,420 shares of the company's stock, valued at $695,928. This represents a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on ALSN shares. The Goldman Sachs Group raised their target price on Allison Transmission from $82.00 to $94.00 and gave the stock a "sell" rating in a research note on Thursday, December 12th. Citigroup reduced their target price on Allison Transmission from $120.00 to $115.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. StockNews.com downgraded shares of Allison Transmission from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 13th. Finally, Morgan Stanley increased their target price on Allison Transmission from $110.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Allison Transmission presently has a consensus rating of "Hold" and an average target price of $100.75.

Allison Transmission Stock Performance

NYSE ALSN traded up $1.33 during trading hours on Friday, hitting $101.79. The company had a trading volume of 1,043,693 shares, compared to its average volume of 640,120. Allison Transmission Holdings, Inc. has a 1-year low of $71.49 and a 1-year high of $122.53. The company has a market cap of $8.70 billion, a PE ratio of 12.25 and a beta of 1.00. The business has a 50 day moving average of $110.50 and a 200-day moving average of $105.04. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.42 and a current ratio of 3.04.

Allison Transmission (NYSE:ALSN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.90 by $0.11. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. As a group, equities research analysts expect that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission declared that its board has approved a share repurchase program on Thursday, February 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the auto parts company to reacquire up to 57.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Allison Transmission Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a dividend of $0.27 per share. This is an increase from Allison Transmission's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.08 annualized dividend and a yield of 1.06%. Allison Transmission's payout ratio is 13.00%.

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.