Allison Transmission (NYSE:ALSN) Sets New 52-Week High – Here’s Why

Allison Transmission Holdings, Inc. (NYSE:ALSN)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $109.75 and last traded at $109.64, with a volume of 558798 shares. The stock had previously closed at $106.74.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALSN. Bank of America raised their price objective on shares of Allison Transmission from $67.00 to $77.00 and gave the company an “underperform” rating in a report on Wednesday, October 30th. StockNews.com raised shares of Allison Transmission from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Oppenheimer boosted their price objective on shares of Allison Transmission from $90.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup raised their target price on Allison Transmission from $97.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price target on Allison Transmission from $80.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Allison Transmission currently has a consensus rating of “Hold” and a consensus target price of $92.25.

Allison Transmission Price Performance

The company has a debt-to-equity ratio of 1.48, a current ratio of 2.83 and a quick ratio of 2.25. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.91 and a beta of 0.98. The business’s fifty day simple moving average is $95.24 and its 200 day simple moving average is $84.54.

Allison Transmission (NYSE:ALSN) last issued its earnings results on Tuesday, October 29th. The auto parts company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.01 by $0.26. The company had revenue of $824.00 million during the quarter, compared to the consensus estimate of $790.08 million. Allison Transmission had a return on equity of 51.13% and a net margin of 22.66%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the business posted $1.76 EPS. On average, research analysts forecast that Allison Transmission Holdings, Inc. will post 8.18 EPS for the current year.

Allison Transmission Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Monday, August 19th. Allison Transmission’s dividend payout ratio is currently 12.18%.

Insider Buying and Selling at Allison Transmission

In other news, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $90.98, for a total value of $181,960.00. Following the transaction, the senior vice president now owns 12,420 shares in the company, valued at $1,129,971.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Allison Transmission news, VP Thomas Eifert sold 1,741 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $100.00, for a total value of $174,100.00. Following the completion of the sale, the vice president now directly owns 9,601 shares of the company’s stock, valued at $960,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP John Coll sold 2,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $90.98, for a total value of $181,960.00. Following the transaction, the senior vice president now directly owns 12,420 shares in the company, valued at $1,129,971.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,741 shares of company stock worth $546,060. 0.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allison Transmission

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALSN. Renaissance Technologies LLC boosted its holdings in Allison Transmission by 1.1% in the 2nd quarter. Renaissance Technologies LLC now owns 3,522,519 shares of the auto parts company’s stock worth $267,359,000 after buying an additional 39,700 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Allison Transmission by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,893,618 shares of the auto parts company’s stock worth $143,716,000 after acquiring an additional 41,168 shares during the period. Federated Hermes Inc. grew its position in shares of Allison Transmission by 5.9% in the second quarter. Federated Hermes Inc. now owns 906,370 shares of the auto parts company’s stock valued at $68,793,000 after purchasing an additional 50,625 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Allison Transmission by 12.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 683,831 shares of the auto parts company’s stock worth $51,903,000 after purchasing an additional 77,649 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its stake in Allison Transmission by 0.9% in the 3rd quarter. Copeland Capital Management LLC now owns 636,205 shares of the auto parts company’s stock worth $61,120,000 after purchasing an additional 5,489 shares during the period. 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.