Brokerages Set Allison Transmission Holdings, Inc. (NYSE:ALSN) PT at $97.88

Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) have received a consensus recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $97.88.

A number of research analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Allison Transmission from $108.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Robert W. Baird reduced their price target on shares of Allison Transmission from $123.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Raymond James reduced their price target on shares of Allison Transmission from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their price target on shares of Allison Transmission from $110.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley reduced their price target on shares of Allison Transmission from $112.00 to $94.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th.

Insider Buying and Selling

In other Allison Transmission news, SVP John Coll sold 1,788 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $95.33, for a total transaction of $170,450.04. Following the sale, the senior vice president now directly owns 15,388 shares of the company’s stock, valued at approximately $1,466,938.04. This represents a 10.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Ryan A. Milburn sold 4,546 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $96.20, for a total transaction of $437,325.20. Following the sale, the vice president now directly owns 14,138 shares in the company, valued at $1,360,075.60. This trade represents a 24.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allison Transmission

Several large investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of Allison Transmission by 1.9% in the fourth quarter. FMR LLC now owns 12,993,015 shares of the auto parts company’s stock valued at $1,404,025,000 after purchasing an additional 247,318 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in shares of Allison Transmission by 3.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,652,996 shares of the auto parts company’s stock valued at $286,683,000 after purchasing an additional 76,840 shares during the period. Loomis Sayles & Co. L P increased its position in Allison Transmission by 301.1% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,378,731 shares of the auto parts company’s stock worth $257,046,000 after acquiring an additional 1,785,687 shares during the period. Allianz Asset Management GmbH increased its position in Allison Transmission by 7.0% during the fourth quarter. Allianz Asset Management GmbH now owns 1,061,351 shares of the auto parts company’s stock worth $114,690,000 after acquiring an additional 69,008 shares during the period. Finally, Norges Bank bought a new position in Allison Transmission during the fourth quarter worth about $108,916,000. 96.90% of the stock is owned by institutional investors.

Allison Transmission Stock Up 0.4 %

Shares of NYSE ALSN opened at $92.15 on Tuesday. The stock has a market cap of $7.85 billion, a P/E ratio of 11.09 and a beta of 0.95. The firm has a 50 day moving average price of $94.38 and a 200 day moving average price of $105.66. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.42 and a current ratio of 3.04. Allison Transmission has a 52-week low of $71.49 and a 52-week high of $122.53.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. Analysts expect that Allison Transmission will post 9.06 EPS for the current year.

Allison Transmission declared that its Board of Directors has approved a stock buyback program on Thursday, February 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the auto parts company to reacquire up to 57.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Allison Transmission Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.27 per share. This is a boost from Allison Transmission’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 3rd. This represents a $1.08 annualized dividend and a yield of 1.17%. Allison Transmission’s dividend payout ratio is presently 13.00%.

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.