The Goldman Sachs Group Boosts Allison Transmission (NYSE:ALSN) Price Target to $63.00

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

Several other brokerages have also recently weighed in on ALSN. Oppenheimer upped their price target on Allison Transmission from $67.00 to $90.00 and gave the company an outperform rating in a research report on Tuesday, March 26th. Morgan Stanley started coverage on Allison Transmission in a research report on Monday, January 8th. They set an equal weight rating and a $62.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Allison Transmission from $70.00 to $78.00 and gave the company a neutral rating in a research report on Monday. Robert W. Baird upped their price target on Allison Transmission from $63.00 to $68.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Finally, StockNews.com upgraded Allison Transmission from a buy rating to a strong-buy rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $65.88.

Allison Transmission Trading Down 0.5 %

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

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

Allison Transmission Increases Dividend

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

Insider Transactions at Allison Transmission

In other news, CEO David S. Graziosi sold 76,318 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $8,855,053.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Allison Transmission news, VP Dana Jh Pittard sold 2,686 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $72.84, for a total value of $195,648.24. Following the completion of the sale, the vice president now owns 5,143 shares of the company’s stock, valued at $374,616.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David S. Graziosi sold 76,318 shares of the company’s stock in a transaction that occurred 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 directly owns 125,479 shares of the company’s stock, valued at approximately $8,855,053.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,843 shares of company stock valued at $6,244,562. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Allison Transmission

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Allison Transmission by 108.9% in the first 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 in the last quarter. Diversified Trust Co purchased a new stake in shares of Allison Transmission during the first quarter valued at approximately $372,000. DGS Capital Management LLC purchased a new stake in shares of Allison Transmission during the first quarter valued at approximately $299,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Allison Transmission during the first quarter valued at approximately $292,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of Allison Transmission during the first quarter valued at approximately $247,000. Hedge funds and other institutional investors own 96.90% of the company’s stock.

About Allison Transmission

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.