Element Capital Management LLC Makes New Investment in Allison Transmission Holdings, Inc. $ALSN

Element Capital Management LLC bought a new position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 5,926 shares of the auto parts company’s stock, valued at approximately $503,000. Allison Transmission makes up 0.7% of Element Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of ALSN. Boston Partners raised its position in shares of Allison Transmission by 117.6% in the 3rd quarter. Boston Partners now owns 2,038,429 shares of the auto parts company’s stock valued at $173,093,000 after acquiring an additional 1,101,824 shares during the period. AQR Capital Management LLC grew its holdings in Allison Transmission by 18.9% during the second quarter. AQR Capital Management LLC now owns 1,915,887 shares of the auto parts company’s stock valued at $181,741,000 after purchasing an additional 304,974 shares during the period. Dimensional Fund Advisors LP grew its holdings in Allison Transmission by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,907,768 shares of the auto parts company’s stock valued at $161,926,000 after purchasing an additional 32,996 shares during the period. State Street Corp increased its stake in Allison Transmission by 1.1% in the second quarter. State Street Corp now owns 1,652,290 shares of the auto parts company’s stock valued at $156,951,000 after purchasing an additional 17,783 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Allison Transmission by 35.7% in the second quarter. Federated Hermes Inc. now owns 1,544,799 shares of the auto parts company’s stock valued at $146,740,000 after purchasing an additional 406,540 shares in the last quarter. 96.90% of the stock is owned by institutional investors.

Allison Transmission Stock Down 0.2%

ALSN stock opened at $112.84 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.85 and a quick ratio of 4.17. The stock has a market capitalization of $9.34 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.74 and a beta of 0.96. Allison Transmission Holdings, Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $128.85. The business has a 50-day moving average of $113.71 and a 200-day moving average of $97.06.

Allison Transmission Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Monday, March 9th will be given a dividend of $0.29 per share. This is an increase from Allison Transmission’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. Allison Transmission’s payout ratio is currently 15.83%.

Insider Activity at Allison Transmission

In other news, insider Eric C. Scroggins sold 1,313 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $114.40, for a total value of $150,207.20. Following the sale, the insider owned 17,654 shares of the company’s stock, valued at $2,019,617.60. The trade was a 6.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John Coll sold 1,791 shares of the stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $98.79, for a total transaction of $176,932.89. Following the transaction, the senior vice president owned 10,021 shares of the company’s stock, valued at $989,974.59. The trade was a 15.16% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ALSN shares. Morgan Stanley lifted their price target on shares of Allison Transmission from $97.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Weiss Ratings cut shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 25th. Citigroup raised their price objective on Allison Transmission from $110.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Wells Fargo & Company lifted their target price on Allison Transmission from $98.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Finally, Zacks Research raised Allison Transmission from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $111.11.

Allison Transmission Profile

Allison Transmission Holdings Inc is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company’s products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison’s core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.

In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.