Allison Transmission (NYSE:ALSN) Price Target Raised to $78.00

Allison Transmission (NYSE:ALSN) had its price target boosted by JPMorgan Chase & Co. from $70.00 to $78.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the auto parts company’s stock.

Other analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Allison Transmission from a buy rating to a strong-buy rating in a research note on Wednesday, February 14th. Robert W. Baird boosted their price objective on shares of Allison Transmission from $63.00 to $68.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Oppenheimer boosted their price objective on shares of Allison Transmission from $67.00 to $90.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Morgan Stanley began coverage on shares of Allison Transmission in a research note on Monday, January 8th. They issued an equal weight rating and a $62.00 price objective for the company. Finally, The Goldman Sachs Group boosted their price objective on shares of Allison Transmission from $48.00 to $55.00 and gave the stock a sell rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $65.88.

Allison Transmission Stock Performance

ALSN stock opened at $79.78 on Monday. The company has a quick ratio of 1.94, a current ratio of 2.49 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 1.50 and a beta of 1.03. Allison Transmission has a 12 month low of $44.68 and a 12 month high of $83.42. The firm has a 50 day moving average of $76.01 and a two-hundred day moving average of $63.40.

Allison Transmission (NYSE:ALSN) last posted its earnings results on Tuesday, February 13th. The auto parts company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.42 by $0.49. The company had revenue of $775.00 million during the quarter, compared to the consensus estimate of $744.00 million. Allison Transmission had a net margin of 22.17% and a return on equity of 60.35%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 earnings per share. As a group, equities analysts anticipate that Allison Transmission will post 7.72 EPS for the current fiscal year.

Allison Transmission Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were paid a dividend of $0.25 per share. This is a boost from Allison Transmission’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Friday, March 1st. Allison Transmission’s dividend payout ratio is presently 13.44%.

Insider Activity at Allison Transmission

In related news, VP Ryan A. Milburn sold 2,598 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $75.40, for a total transaction of $195,889.20. Following the completion of the transaction, the vice president now directly owns 14,456 shares in the company, valued at approximately $1,089,982.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Allison Transmission news, VP Ryan A. Milburn sold 2,598 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $75.40, for a total value of $195,889.20. Following the sale, the vice president now owns 14,456 shares of the company’s stock, valued at approximately $1,089,982.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Graziosi sold 76,318 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.57, for a total transaction of $5,385,761.26. Following the completion of the sale, the chief executive officer now directly owns 125,479 shares in the company, valued at approximately $8,855,053.03. The disclosure for this sale can be found here. Insiders sold a total of 87,843 shares of company stock worth $6,244,562 in the last ninety days. 0.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allison Transmission

Institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Wealth LLC increased its holdings in Allison Transmission by 9.1% in the 4th quarter. NewEdge Wealth LLC now owns 519,845 shares of the auto parts company’s stock valued at $30,229,000 after buying an additional 43,243 shares during the period. Estate Counselors LLC bought a new stake in shares of Allison Transmission in the 4th quarter worth about $1,127,000. Schroder Investment Management Group grew its holdings in shares of Allison Transmission by 137.9% in the 3rd quarter. Schroder Investment Management Group now owns 133,529 shares of the auto parts company’s stock worth $7,886,000 after purchasing an additional 77,402 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Allison Transmission by 62.5% in the 3rd quarter. Federated Hermes Inc. now owns 799,312 shares of the auto parts company’s stock worth $47,207,000 after purchasing an additional 307,322 shares during the last quarter. Finally, London Co. of Virginia grew its holdings in shares of Allison Transmission by 1.1% in the 3rd quarter. London Co. of Virginia now owns 2,414,094 shares of the auto parts company’s stock worth $142,576,000 after purchasing an additional 26,316 shares during the last quarter. Institutional investors own 96.90% of the company’s stock.

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.