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

Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) 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 changing hands.

Analyst Ratings Changes

Several research firms have commented on ALSN. Robert W. Baird raised their target price on shares of Allison Transmission from $84.00 to $87.00 and gave the company a “neutral” rating in a report on Friday. Oppenheimer raised their target price on shares of Allison Transmission from $67.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. The Goldman Sachs Group raised their target price on shares of Allison Transmission from $55.00 to $63.00 and gave the company a “sell” rating in a report on Tuesday, April 16th. StockNews.com lowered shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their target price on shares of Allison Transmission from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Allison Transmission currently has a consensus rating of “Hold” and a consensus price target of $68.25.

Allison Transmission Stock Down 7.2 %

The company has a market capitalization of $6.53 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 1.48 and a beta of 1.03. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.94 and a current ratio of 2.49. The firm’s fifty day moving average is $77.83 and its 200-day moving average is $64.36.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Thursday, April 25th. The auto parts company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.02. The company had revenue of $789.00 million for the quarter, compared to analyst estimates of $772.37 million. Allison Transmission had a net margin of 21.80% and a return on equity of 58.05%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 EPS. As a group, equities research analysts predict that Allison Transmission Holdings, Inc. will post 7.74 EPS for the current year.

Allison Transmission Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Allison Transmission’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.34%. Allison Transmission’s dividend payout ratio (DPR) is currently 13.35%.

Insider Buying and Selling

In related news, VP Ryan A. Milburn sold 2,598 shares of Allison Transmission 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 sale, the vice president now directly owns 14,456 shares in the company, valued at approximately $1,089,982.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Ryan A. Milburn sold 2,598 shares of Allison Transmission 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 sale, the vice president now directly owns 14,456 shares in the company, valued at approximately $1,089,982.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David S. Graziosi sold 76,318 shares of Allison Transmission stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.57, for a total transaction of $5,385,761.26. Following the sale, the chief executive officer now owns 125,479 shares in the company, valued at $8,855,053.03. The disclosure for this sale can be found here. Insiders have sold a total of 87,843 shares of company stock worth $6,244,562 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALSN. Norges Bank acquired a new position in shares of Allison Transmission in the 4th quarter worth approximately $56,334,000. Federated Hermes Inc. lifted its position in shares of Allison Transmission by 62.5% in the 3rd quarter. Federated Hermes Inc. now owns 799,312 shares of the auto parts company’s stock worth $47,207,000 after purchasing an additional 307,322 shares during the period. Vision One Management Partners LP acquired a new position in shares of Allison Transmission in the 4th quarter worth approximately $17,848,000. Prevatt Capital Ltd acquired a new position in shares of Allison Transmission in the 4th quarter worth approximately $14,538,000. Finally, Invesco Ltd. lifted its position in shares of Allison Transmission by 17.8% in the 3rd quarter. Invesco Ltd. now owns 1,477,554 shares of the auto parts company’s stock worth $87,264,000 after purchasing an additional 222,863 shares during the period. Institutional investors and hedge funds 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.