Allison Transmission (NYSE:ALSN) Cut to Hold at Zacks Research

Zacks Research cut shares of Allison Transmission (NYSE:ALSN) from a strong-buy rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Morgan Stanley lifted their price objective on Allison Transmission from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, March 16th. Raymond James Financial increased their target price on shares of Allison Transmission from $110.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Monday, December 22nd. Citigroup raised their target price on shares of Allison Transmission from $110.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. boosted their price target on shares of Allison Transmission from $87.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Oppenheimer upped their price target on shares of Allison Transmission from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $112.00.

Allison Transmission Trading Down 2.2%

ALSN opened at $116.31 on Tuesday. The company has a quick ratio of 4.17, a current ratio of 4.85 and a debt-to-equity ratio of 1.55. The stock’s fifty day moving average is $115.62 and its two-hundred day moving average is $98.64. The company has a market capitalization of $9.63 billion, a P/E ratio of 15.87, a PEG ratio of 0.78 and a beta of 0.96. Allison Transmission has a 52 week low of $76.01 and a 52 week high of $128.85.

Allison Transmission Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Monday, March 9th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.0%. This is a boost from Allison Transmission’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, March 9th. Allison Transmission’s payout ratio is presently 15.83%.

Insider Transactions at Allison Transmission

In other news, SVP John Coll sold 1,791 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $98.79, for a total value of $176,932.89. Following the sale, the senior vice president directly owned 10,021 shares in the company, valued at approximately $989,974.59. This trade represents a 15.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric C. Scroggins sold 1,313 shares of Allison Transmission stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 17,654 shares in the company, valued at approximately $2,019,617.60. The trade was a 6.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Allison Transmission

A number of hedge funds and other institutional investors have recently bought and sold shares of ALSN. Inscription Capital LLC increased its stake in shares of Allison Transmission by 0.7% during the fourth quarter. Inscription Capital LLC now owns 14,337 shares of the auto parts company’s stock worth $1,404,000 after purchasing an additional 95 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Allison Transmission by 16.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 732 shares of the auto parts company’s stock valued at $72,000 after buying an additional 105 shares in the last quarter. Villanova Investment Management Co LLC boosted its holdings in Allison Transmission by 0.4% in the 4th quarter. Villanova Investment Management Co LLC now owns 26,089 shares of the auto parts company’s stock worth $2,554,000 after buying an additional 106 shares during the last quarter. Xponance LLC boosted its holdings in Allison Transmission by 2.0% in the 4th quarter. Xponance LLC now owns 5,535 shares of the auto parts company’s stock worth $542,000 after buying an additional 107 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its stake in Allison Transmission by 4.6% during the 4th quarter. Kathmere Capital Management LLC now owns 2,643 shares of the auto parts company’s stock worth $259,000 after buying an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

About Allison Transmission

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.