Allison Transmission (NYSE:ALSN) Shares Gap Down to $80.26

Allison Transmission Holdings, Inc. (NYSE:ALSN)’s share price gapped down prior to trading on Friday . The stock had previously closed at $80.26, but opened at $74.04. Allison Transmission shares last traded at $75.78, with a volume of 317,692 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALSN. The Goldman Sachs Group increased their price target on shares of Allison Transmission from $55.00 to $63.00 and gave the stock a “sell” rating in a report on Tuesday, April 16th. StockNews.com downgraded shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. increased their price target on shares of Allison Transmission from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Robert W. Baird increased their price target on shares of Allison Transmission from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Morgan Stanley began coverage on shares of Allison Transmission in a report on Monday, January 8th. They issued an “equal weight” rating and a $62.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Allison Transmission has an average rating of “Hold” and a consensus target price of $68.25.

Allison Transmission Stock Performance

The company has a quick ratio of 1.94, a current ratio of 2.49 and a debt-to-equity ratio of 2.03. The company’s 50-day moving average is $77.83 and its two-hundred day moving average is $64.36. The company has a market capitalization of $6.53 billion, a P/E ratio of 9.95, a PEG ratio of 1.48 and a beta of 1.03.

Allison Transmission (NYSE:ALSN) last posted its quarterly earnings data on Thursday, April 25th. The auto parts company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.02. The company had revenue of $789.00 million for the quarter, compared to analysts’ expectations of $772.37 million. Allison Transmission had a net margin of 21.80% and a return on equity of 58.05%. Allison Transmission’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.85 earnings per share. Equities analysts anticipate that Allison Transmission Holdings, Inc. will post 7.74 earnings per share for the current fiscal year.

Allison Transmission Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. This is a boost from Allison Transmission’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, March 1st. Allison Transmission’s dividend payout ratio is 13.35%.

Insider Buying and Selling

In other Allison Transmission news, VP Dana Jh Pittard sold 2,686 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $72.84, for a total transaction of $195,648.24. Following the transaction, the vice president now directly owns 5,143 shares in the company, valued at $374,616.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Allison Transmission news, VP Ryan A. Milburn sold 2,598 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $75.40, for a total transaction of $195,889.20. Following the transaction, the vice president now directly owns 14,456 shares in the company, valued at $1,089,982.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dana Jh Pittard sold 2,686 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $72.84, for a total transaction of $195,648.24. Following the transaction, the vice president now owns 5,143 shares in the company, valued at $374,616.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,843 shares of company stock worth $6,244,562. Insiders own 1.10% of the company’s stock.

Institutional Trading of Allison Transmission

A number of institutional investors have recently made changes to their positions in ALSN. Norges Bank purchased a new stake in shares of Allison Transmission during the fourth quarter valued at approximately $56,334,000. Federated Hermes Inc. boosted its stake in shares of Allison Transmission by 62.5% during the third quarter. Federated Hermes Inc. now owns 799,312 shares of the auto parts company’s stock valued at $47,207,000 after purchasing an additional 307,322 shares during the period. Vision One Management Partners LP purchased a new stake in shares of Allison Transmission during the fourth quarter valued at approximately $17,848,000. Prevatt Capital Ltd purchased a new stake in shares of Allison Transmission during the fourth quarter valued at approximately $14,538,000. Finally, Invesco Ltd. boosted its stake in shares of Allison Transmission by 17.8% during the third quarter. Invesco Ltd. now owns 1,477,554 shares of the auto parts company’s stock valued at $87,264,000 after purchasing an additional 222,863 shares during the period. 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.