Allison Transmission (NYSE:ALSN) Price Target Raised to $140.00

Allison Transmission (NYSE:ALSN) had its price objective raised by Citigroup from $135.00 to $140.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the auto parts company’s stock.

A number of other research firms also recently commented on ALSN. Wells Fargo & Company dropped their target price on shares of Allison Transmission from $137.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, October 8th. Morgan Stanley increased their target price on shares of Allison Transmission from $132.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday. Weiss Ratings upgraded shares of Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Freedom Broker assumed coverage on shares of Allison Transmission in a research report on Friday, October 2nd. They issued a “buy” rating and a $144.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of Allison Transmission from $145.00 to $142.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.62.

Allison Transmission Price Performance

NYSE:ALSN traded up $0.29 during mid-day trading on Wednesday, reaching $116.74. 1,058,862 shares of the stock were exchanged, compared to its average volume of 662,196. The business has a fifty day moving average price of $116.41 and a 200 day moving average price of $118.48. The firm has a market capitalization of $9.64 billion, a PE ratio of 16.77, a PEG ratio of 0.60 and a beta of 1.06. Allison Transmission has a 1-year low of $78.77 and a 1-year high of $137.62. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 2.07.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings results on Monday, November 2nd. The auto parts company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.32 by $0.58. Allison Transmission had a net margin of 11.12% and a return on equity of 43.23%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the business earned $1.63 earnings per share. Allison Transmission’s revenue for the quarter was up 121.4% compared to the same quarter last year. Research analysts expect that Allison Transmission will post 10.68 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. Allison Transmission’s dividend payout ratio is currently 16.67%.

Insider Transactions at Allison Transmission

In other news, CEO David S. Graziosi sold 26,708 shares of Allison Transmission stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $132.97, for a total value of $3,551,362.76. Following the transaction, the chief executive officer directly owned 304,843 shares of the company’s stock, valued at $40,534,973.71. This trade represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric C. Scroggins sold 1,050 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $125.00, for a total transaction of $131,250.00. Following the sale, the insider owned 16,604 shares in the company, valued at $2,075,500. This represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allison Transmission

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its position in Allison Transmission by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 22,938 shares of the auto parts company’s stock worth $2,586,000 after purchasing an additional 78 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Allison Transmission by 1.6% in the first quarter. Gamco Investors INC. ET AL now owns 6,473 shares of the auto parts company’s stock valued at $758,000 after purchasing an additional 100 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Allison Transmission by 3.2% in the third quarter. Brighton Jones LLC now owns 3,682 shares of the auto parts company’s stock valued at $417,000 after purchasing an additional 115 shares in the last quarter. Mather Group LLC. boosted its position in shares of Allison Transmission by 68.2% in the third quarter. Mather Group LLC. now owns 291 shares of the auto parts company’s stock worth $33,000 after buying an additional 118 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Allison Transmission by 8.6% in the third quarter. Parallel Advisors LLC now owns 1,779 shares of the auto parts company’s stock worth $202,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 96.90% of the company’s stock.

Allison Transmission Company Profile

Allison Transmission, Inc designs and manufactures propulsion solutions for commercial, defense and off-highway vehicles. The company is best known for its fully automatic transmissions, which are used in applications including refuse collection, construction, distribution, emergency services, public transportation and mining.

Its product portfolio also includes electric and hybrid-electric propulsion systems, including the eGen Power electric axle and other electrification technologies.