Allison Transmission (NYSE:ALSN) Given New $137.00 Price Target at Wells Fargo & Company

Allison Transmission (NYSE:ALSN) had its target price upped by Wells Fargo & Company from $127.00 to $137.00 in a research report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the auto parts company’s stock.

A number of other research analysts have also weighed in on ALSN. Zacks Research lowered Allison Transmission from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Citigroup increased their price target on Allison Transmission from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. JPMorgan Chase & Co. raised their price objective on Allison Transmission from $87.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Weiss Ratings downgraded shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 25th. Finally, Oppenheimer upped their target price on shares of Allison Transmission from $115.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $115.38.

Allison Transmission Trading Up 0.3%

NYSE:ALSN opened at $127.73 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.85 and a quick ratio of 4.17. Allison Transmission has a one year low of $76.01 and a one year high of $137.62. The company has a market cap of $10.62 billion, a PE ratio of 19.87, a PEG ratio of 0.76 and a beta of 1.01. The firm has a 50-day moving average of $122.31 and a 200-day moving average of $106.46.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Monday, May 4th. The auto parts company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.47. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Allison Transmission had a net margin of 14.88% and a return on equity of 37.93%. The firm’s revenue for the quarter was up 83.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.23 EPS. As a group, equities research analysts expect that Allison Transmission will post 9.68 EPS for the current fiscal year.

Allison Transmission Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.16 annualized dividend and a dividend yield of 0.9%. Allison Transmission’s dividend payout ratio is currently 15.83%.

Insider Activity at Allison Transmission

In related news, insider Eric C. Scroggins sold 1,313 shares of Allison Transmission stock in a transaction on Monday, March 9th. The stock was sold at an average price of $114.40, for a total transaction of $150,207.20. Following the sale, the insider directly owned 17,654 shares in the company, valued at approximately $2,019,617.60. This trade represents a 6.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Allison Transmission

Several large investors have recently made changes to their positions in the business. Bank of Montreal Can raised its stake in shares of Allison Transmission by 4,032.3% during the 4th quarter. Bank of Montreal Can now owns 2,151,871 shares of the auto parts company’s stock worth $210,668,000 after purchasing an additional 2,099,797 shares during the period. Norges Bank purchased a new stake in Allison Transmission during the fourth quarter worth about $115,674,000. Boston Partners increased its holdings in Allison Transmission by 117.6% during the third quarter. Boston Partners now owns 2,038,429 shares of the auto parts company’s stock worth $173,093,000 after buying an additional 1,101,824 shares during the last quarter. Millennium Management LLC raised its position in Allison Transmission by 191.7% in the fourth quarter. Millennium Management LLC now owns 1,257,353 shares of the auto parts company’s stock worth $123,095,000 after acquiring an additional 826,352 shares during the period. Finally, UBS Group AG raised its position in Allison Transmission by 222.2% in the third quarter. UBS Group AG now owns 960,548 shares of the auto parts company’s stock worth $81,531,000 after acquiring an additional 662,458 shares during the period. 96.90% of the stock is owned by hedge funds and other institutional investors.

Allison Transmission Company Profile

Allison Transmission Holdings Inc is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company’s products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison’s core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.

In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.