Allison Transmission (NYSE:ALSN) Given New $77.00 Price Target at Bank of America

Allison Transmission (NYSE:ALSN) had its price target boosted by Bank of America from $67.00 to $77.00 in a research report released on Wednesday morning, Benzinga reports. Bank of America currently has an underperform rating on the auto parts company’s stock.

A number of other equities research analysts have also recently issued reports on ALSN. Citigroup boosted their price objective on Allison Transmission from $97.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. StockNews.com upgraded Allison Transmission from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group lifted their target price on Allison Transmission from $63.00 to $72.00 and gave the stock a “sell” rating in a report on Monday, July 29th. Robert W. Baird boosted their target price on shares of Allison Transmission from $103.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Allison Transmission from $80.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.00.

Allison Transmission Stock Up 7.9 %

ALSN stock opened at $108.11 on Wednesday. The business’s 50 day simple moving average is $94.20 and its 200 day simple moving average is $83.94. Allison Transmission has a 1-year low of $50.13 and a 1-year high of $109.30. The firm has a market capitalization of $9.46 billion, a PE ratio of 14.43, a PEG ratio of 1.78 and a beta of 0.99. The company has a current ratio of 2.78, a quick ratio of 2.19 and a debt-to-equity ratio of 1.62.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.26. The company had revenue of $824.00 million for the quarter, compared to analyst estimates of $790.08 million. Allison Transmission had a net margin of 21.95% and a return on equity of 52.18%. The company’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.76 earnings per share. As a group, research analysts anticipate that Allison Transmission will post 7.85 EPS for the current year.

Allison Transmission Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.92%. The ex-dividend date was Monday, August 19th. Allison Transmission’s dividend payout ratio is currently 13.35%.

Insider Activity

In related news, SVP John Coll sold 2,000 shares of Allison Transmission stock in a transaction that occurred 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 of the company’s stock, valued at $1,129,971.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Allison Transmission news, SVP John Coll sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $90.98, for a total transaction of $181,960.00. Following the completion of the transaction, the senior vice president now owns 12,420 shares of the company’s stock, valued at approximately $1,129,971.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas Eifert sold 1,741 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $100.00, for a total transaction of $174,100.00. Following the completion of the sale, the vice president now owns 9,601 shares in the company, valued at approximately $960,100. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,741 shares of company stock worth $546,060. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALSN. Thompson Siegel & Walmsley LLC grew its position in Allison Transmission by 257.8% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 319,428 shares of the auto parts company’s stock worth $24,245,000 after acquiring an additional 230,152 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Allison Transmission by 108.9% during 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 purchasing an additional 135,194 shares during the last quarter. Carlson Capital L P acquired a new position in shares of Allison Transmission in the first quarter valued at approximately $9,561,000. Sanctuary Advisors LLC bought a new position in Allison Transmission in the 2nd quarter valued at approximately $7,953,000. Finally, Burney Co. boosted its position in Allison Transmission by 34.7% during the 1st quarter. Burney Co. now owns 395,752 shares of the auto parts company’s stock worth $32,119,000 after buying an additional 101,920 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.

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.