Allison Transmission (NYSE:ALSN) Price Target Increased to $63.00 by Analysts at The Goldman Sachs Group

Allison Transmission (NYSE:ALSN) had its target price upped by The Goldman Sachs Group from $55.00 to $63.00 in a report released on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the auto parts company’s stock.

Several other brokerages also recently issued reports on ALSN. Robert W. Baird lifted their target price on Allison Transmission from $63.00 to $68.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Morgan Stanley started coverage on Allison Transmission in a research note on Monday, January 8th. They set an equal weight rating and a $62.00 target price on the stock. StockNews.com raised Allison Transmission from a buy rating to a strong-buy rating in a research note on Wednesday, February 14th. Oppenheimer lifted their price objective on Allison Transmission from $67.00 to $90.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Allison Transmission from $70.00 to $78.00 and gave the stock a neutral rating in a research note on Monday. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $65.88.

Allison Transmission Stock Down 0.5 %

NYSE ALSN opened at $79.39 on Tuesday. The stock’s 50-day moving average price is $76.36 and its 200-day moving average price is $63.51. The company has a quick ratio of 1.94, a current ratio of 2.49 and a debt-to-equity ratio of 2.03. Allison Transmission has a 52 week low of $44.68 and a 52 week high of $83.42. The company has a market capitalization of $6.96 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 1.48 and a beta of 1.03.

Allison Transmission (NYSE:ALSN) last issued its earnings results on Tuesday, February 13th. The auto parts company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.49. The company had revenue of $775.00 million for the quarter, compared to the consensus estimate of $744.00 million. Allison Transmission had a return on equity of 60.35% and a net margin of 22.17%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $1.52 EPS. On average, equities research analysts predict that Allison Transmission will post 7.72 earnings per share for the current year.

Allison Transmission Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a $0.25 dividend. This is a boost from Allison Transmission’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, March 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. Allison Transmission’s payout ratio is 13.44%.

Insider Transactions at Allison Transmission

In related news, CEO David S. Graziosi sold 76,318 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.57, for a total transaction of $5,385,761.26. Following the completion of the transaction, the chief executive officer now owns 125,479 shares in the company, valued at approximately $8,855,053.03. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Allison Transmission news, VP Ryan A. Milburn sold 2,598 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $75.40, for a total value of $195,889.20. Following the completion of the sale, the vice president now directly owns 14,456 shares in the company, valued at approximately $1,089,982.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Graziosi sold 76,318 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.57, for a total value of $5,385,761.26. Following the completion of the sale, the chief executive officer now owns 125,479 shares of the company’s stock, valued at $8,855,053.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,843 shares of company stock worth $6,244,562. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allison Transmission

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Allison Transmission by 108.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 259,311 shares of the auto parts company’s stock worth $21,046,000 after buying an additional 135,194 shares during the period. Diversified Trust Co purchased a new stake in shares of Allison Transmission in the 1st quarter worth $372,000. DGS Capital Management LLC purchased a new stake in shares of Allison Transmission in the 1st quarter worth $299,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Allison Transmission in the 1st quarter worth $292,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of Allison Transmission in the 1st quarter worth $247,000. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

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.