Allison Transmission (NYSE:ALSN) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of Allison Transmission (NYSE:ALSN) from a strong-buy rating to a buy rating in a report issued on Monday.

A number of other research analysts also recently issued reports on ALSN. Robert W. Baird boosted their target price on shares of Allison Transmission from $87.00 to $90.00 and gave the company a neutral rating in a research report on Friday, July 26th. The Goldman Sachs Group lifted their price objective on Allison Transmission from $63.00 to $72.00 and gave the stock a sell rating in a report on Monday, July 29th. Citigroup began coverage on shares of Allison Transmission in a research note on Wednesday, June 26th. They issued a neutral rating and a $80.00 target price on the stock. Finally, Raymond James initiated coverage on Allison Transmission in a research report on Friday, June 28th. They set an outperform rating and a $85.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $79.57.

Allison Transmission Stock Up 1.8 %

Shares of ALSN opened at $92.75 on Monday. 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 has a 12 month low of $50.13 and a 12 month high of $92.82. The firm’s 50 day moving average is $82.81 and its 200-day moving average is $78.65. The stock has a market capitalization of $8.08 billion, a PE ratio of 12.38, a P/E/G ratio of 1.66 and a beta of 0.99.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Thursday, July 25th. The auto parts company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.09. Allison Transmission had a return on equity of 52.18% and a net margin of 21.95%. The business had revenue of $816.00 million for the quarter, compared to analyst estimates of $799.44 million. During the same period last year, the firm posted $1.92 earnings per share. Allison Transmission’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts forecast that Allison Transmission will post 7.89 EPS for the current year.

Allison Transmission Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. Allison Transmission’s dividend payout ratio is 13.35%.

Insider Transactions at Allison Transmission

In other Allison Transmission news, SVP John Coll sold 2,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $75.06, for a total transaction of $150,120.00. Following the completion of the sale, the senior vice president now directly owns 14,420 shares in the company, valued at approximately $1,082,365.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Allison Transmission

A number of hedge funds and other institutional investors have recently modified their holdings of ALSN. Renaissance Technologies LLC lifted its stake in shares of Allison Transmission by 1.1% in the 2nd quarter. Renaissance Technologies LLC now owns 3,522,519 shares of the auto parts company’s stock valued at $267,359,000 after purchasing an additional 39,700 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Allison Transmission by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,893,618 shares of the auto parts company’s stock worth $143,716,000 after buying an additional 41,168 shares during the last quarter. Norges Bank purchased a new position in Allison Transmission during the fourth quarter worth $56,334,000. Allianz Asset Management GmbH increased its position in Allison Transmission by 7.7% during the fourth quarter. Allianz Asset Management GmbH now owns 941,405 shares of the auto parts company’s stock valued at $54,743,000 after acquiring an additional 67,332 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Allison Transmission by 5.9% in the second quarter. Federated Hermes Inc. now owns 906,370 shares of the auto parts company’s stock valued at $68,793,000 after acquiring an additional 50,625 shares during the period. 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.