Allison Transmission Holdings Inc (NYSE:ALSN) declared a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Shareholders of record on Monday, November 19th will be given a dividend of 0.15 per share by the auto parts company on Friday, November 30th. This represents a $0.60 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, November 16th.
Allison Transmission has increased its dividend payment by an average of 5.6% annually over the last three years. Allison Transmission has a dividend payout ratio of 13.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Allison Transmission to earn $4.56 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 13.2%.
NYSE:ALSN opened at $43.94 on Friday. The company has a debt-to-equity ratio of 4.19, a quick ratio of 1.05 and a current ratio of 1.43. Allison Transmission has a 12 month low of $37.41 and a 12 month high of $53.76. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 1.00 and a beta of 1.26.
A number of analysts have recently issued reports on ALSN shares. ValuEngine raised Allison Transmission from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Bank of America lifted their target price on Allison Transmission from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 31st. Buckingham Research set a $50.00 target price on Allison Transmission and gave the stock a “hold” rating in a research report on Thursday, October 11th. Zacks Investment Research lowered Allison Transmission from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Finally, Mizuho started coverage on Allison Transmission in a research report on Friday, June 29th. They set a “buy” rating and a $50.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $46.42.
In related news, Director Lawrence E. Dewey sold 262,795 shares of Allison Transmission stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $51.61, for a total value of $13,562,849.95. Following the completion of the transaction, the director now directly owns 479,870 shares in the company, valued at $24,766,090.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eric C. Scroggins sold 4,940 shares of Allison Transmission stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $47.34, for a total value of $233,859.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 393,604 shares of company stock worth $20,280,466. Corporate insiders own 8.40% of the company’s stock.
Allison Transmission Company Profile
Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers 13 transmission product lines with approximately 100 product models for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school, transit, and hybrid-transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.
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