Allison Transmission (NYSE:ALSN) Given New $117.00 Price Target at Morgan Stanley

Allison Transmission (NYSE:ALSN) had its price target raised by Morgan Stanley from $109.00 to $117.00 in a report published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the auto parts company’s stock.

A number of other analysts have also recently weighed in on the stock. Raymond James Financial raised 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. Oppenheimer increased their price objective on Allison Transmission from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Citigroup raised their price objective on Allison Transmission from $110.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. lifted their target price on Allison Transmission from $87.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Wells Fargo & Company boosted their target price on Allison Transmission from $98.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Allison Transmission currently has an average rating of “Hold” and an average price target of $112.00.

Allison Transmission Stock Performance

Shares of ALSN opened at $113.39 on Monday. The firm’s 50 day moving average is $114.02 and its 200-day moving average is $97.29. The stock has a market capitalization of $9.39 billion, a P/E ratio of 15.47, a P/E/G ratio of 0.74 and a beta of 0.96. 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 12-month low of $76.01 and a 12-month high of $128.85.

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Monday, March 9th will be paid 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 is Monday, March 9th. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. Allison Transmission’s dividend payout ratio is currently 15.83%.

Insider Transactions at Allison Transmission

In related news, SVP John Coll sold 1,791 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $98.79, for a total value of $176,932.89. Following the completion of the sale, the senior vice president directly owned 10,021 shares in the company, valued at approximately $989,974.59. The trade was a 15.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric C. Scroggins sold 1,313 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $114.40, for a total value 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Allison Transmission

Institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC grew its stake in Allison Transmission by 37.9% in the 4th quarter. Corient Private Wealth LLC now owns 55,561 shares of the auto parts company’s stock valued at $5,440,000 after buying an additional 15,267 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in Allison Transmission by 6.8% in the 4th quarter. Rehmann Capital Advisory Group now owns 13,005 shares of the auto parts company’s stock worth $1,276,000 after acquiring an additional 831 shares during the period. Villanova Investment Management Co LLC lifted its position in Allison Transmission by 0.4% during 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 acquiring an additional 106 shares during the last quarter. Kera Capital Partners Inc. lifted its position in Allison Transmission by 139.2% during the 4th quarter. Kera Capital Partners Inc. now owns 8,369 shares of the auto parts company’s stock worth $910,000 after acquiring an additional 4,870 shares during the last quarter. Finally, Cambient Family Office LLC bought a new stake in Allison Transmission during the fourth quarter valued at about $314,000. 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.