Ashe Capital Management, LP
recently stated that they own 6.6% of Allison Transmission Holdings Inc (NASDAQ:ALSN) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission on Friday, May 19th. The investor owns 10,031,115 shares of the stock worth about $374,561,834. The reporting parties listed on the disclosure included Ashe Capital Management, LP and William C Crowley. The filing is available through EDGAR at this link.
Ashe Capital Management, LP
provided the following explanation of their ownership:
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Several other hedge funds also recently modified their holdings of ALSN. FMR LLC raised its stake in shares of Allison Transmission Holdings by 78.7% in the fourth quarter. FMR LLC now owns 23,208,451 shares of the auto parts company’s stock worth $781,893,000 after buying an additional 10,221,675 shares in the last quarter. BlackRock Inc. raised its stake in shares of Allison Transmission Holdings by 6,272.7% in the first quarter. BlackRock Inc. now owns 6,723,110 shares of the auto parts company’s stock worth $242,435,000 after buying an additional 6,617,611 shares in the last quarter. Valinor Management L.P. bought a new stake in shares of Allison Transmission Holdings during the third quarter worth about $95,198,000. Marshall Wace North America L.P. bought a new stake in shares of Allison Transmission Holdings during the first quarter worth about $64,179,000. Finally, Norges Bank bought a new stake in shares of Allison Transmission Holdings during the fourth quarter worth about $58,348,000.
Allison Transmission Holdings Inc (NASDAQ:ALSN) traded up 1.44% during mid-day trading on Friday, hitting $37.34. The company had a trading volume of 692,992 shares. Allison Transmission Holdings Inc has a 52-week low of $26.36 and a 52-week high of $40.02. The company has a market capitalization of $5.68 billion and a P/E ratio of 24.84. The company has a 50-day moving average price of $36.84 and a 200 day moving average price of $35.00.
Allison Transmission Holdings (NASDAQ:ALSN) last announced its earnings results on Wednesday, April 26th. The auto parts company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.17. The firm had revenue of $499 million for the quarter, compared to analysts’ expectations of $461.76 million. During the same quarter last year, the business earned $0.63 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. On average, analysts forecast that Allison Transmission Holdings Inc will post $1.80 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Monday, May 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, May 18th.
Several analysts recently weighed in on the company. Barclays PLC restated an “overweight” rating and issued a $39.00 price objective on shares of Allison Transmission Holdings in a report on Wednesday, February 8th. Royal Bank of Canada restated a “buy” rating and issued a $38.00 price objective on shares of Allison Transmission Holdings in a report on Wednesday, March 22nd. Piper Jaffray Companies set a $30.00 price objective on Allison Transmission Holdings and gave the company a “sell” rating in a report on Thursday, February 16th. Goldman Sachs Group Inc downgraded Allison Transmission Holdings from a “buy” rating to a “neutral” rating in a report on Monday, February 27th. Finally, Stifel Nicolaus lifted their price objective on Allison Transmission Holdings from $35.00 to $40.00 and gave the company a “hold” rating in a report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Allison Transmission Holdings currently has an average rating of “Buy” and an average target price of $37.89.
In other Allison Transmission Holdings news, SVP Randall R. Kirk sold 6,854 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $35.82, for a total value of $245,510.28. Following the sale, the senior vice president now owns 67,149 shares of the company’s stock, valued at approximately $2,405,277.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Randall R. Kirk sold 7,230 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $38.59, for a total value of $279,005.70. Following the completion of the sale, the senior vice president now directly owns 72,085 shares in the company, valued at approximately $2,781,760.15. The disclosure for this sale can be found here.
About Allison Transmission Holdings
Allison Transmission Holdings, Inc and its subsidiaries design and manufacture commercial and defense fully-automatic transmissions. The Company manufactures fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium-and heavy-tactical United States defense vehicles. The Company’s transmissions are used in a range of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (primarily school, transit and hybrid-transit), motorhomes, off-highway vehicles and equipment (energy, mining and construction) and defense vehicles (wheeled and tracked).
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