Allison Transmission (NYSE:ALSN) Reaches New 1-Year High After Analyst Upgrade

Allison Transmission Holdings, Inc. (NYSE:ALSN) reached a new 52-week high during mid-day trading on Monday after Citigroup raised their price target on the stock from $130.00 to $135.00. Citigroup currently has a neutral rating on the stock. Allison Transmission traded as high as $128.95 and last traded at $128.3310, with a volume of 74119 shares. The stock had previously closed at $128.51.

ALSN has been the topic of several other reports. Weiss Ratings lowered shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. lifted their price target on shares of Allison Transmission from $87.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Morgan Stanley boosted their price objective on shares of Allison Transmission from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, March 16th. Oppenheimer boosted their price objective on shares of Allison Transmission from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Finally, Zacks Research lowered shares of Allison Transmission from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.56.

Insider Buying and Selling at Allison Transmission

In other news, insider Eric C. Scroggins sold 1,313 shares of the business’s stock in a transaction on Monday, March 9th. The shares were 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 of the company’s stock, valued at $2,019,617.60. The trade was a 6.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allison Transmission

Several hedge funds have recently added to or reduced their stakes in ALSN. Rossby Financial LCC boosted its holdings in Allison Transmission by 107.0% in the third quarter. Rossby Financial LCC now owns 296 shares of the auto parts company’s stock valued at $25,000 after purchasing an additional 153 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Allison Transmission by 536.7% in the fourth quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 263 shares during the last quarter. Transamerica Financial Advisors LLC boosted its holdings in Allison Transmission by 2,112.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 338 shares during the last quarter. True Wealth Design LLC boosted its holdings in Allison Transmission by 93.2% in the third quarter. True Wealth Design LLC now owns 452 shares of the auto parts company’s stock valued at $38,000 after purchasing an additional 218 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in Allison Transmission in the third quarter valued at $40,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Allison Transmission Stock Performance

The company has a debt-to-equity ratio of 1.55, a current ratio of 4.85 and a quick ratio of 4.17. The company has a market capitalization of $10.77 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. The firm’s fifty day simple moving average is $118.00 and its 200 day simple moving average is $101.50.

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Monday, March 9th were given a dividend of $0.29 per share. This is a boost from Allison Transmission’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, March 9th. This represents a $1.16 annualized dividend and a dividend yield of 0.9%. Allison Transmission’s payout ratio is currently 15.83%.

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.