Raymond James Begins Coverage on Allison Transmission (NYSE:ALSN)

Raymond James started coverage on shares of Allison Transmission (NYSE:ALSN) in a research report sent to investors on Friday morning, MarketBeat reports. The brokerage issued an outperform rating and a $85.00 target price on the auto parts company’s stock.

A number of other research analysts have also recently commented on the stock. Robert W. Baird upped their price target on shares of Allison Transmission from $84.00 to $87.00 and gave the stock a neutral rating in a report on Friday, April 26th. Citigroup initiated coverage on shares of Allison Transmission in a research note on Wednesday, June 26th. They issued a neutral rating and a $80.00 price objective for the company. StockNews.com raised shares of Allison Transmission from a buy rating to a strong-buy rating in a research report on Friday, June 7th. The Goldman Sachs Group increased their price target on shares of Allison Transmission from $55.00 to $63.00 and gave the company a sell rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Allison Transmission from $70.00 to $78.00 and gave the company a neutral rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $75.25.

Allison Transmission Trading Up 2.2 %

Shares of ALSN opened at $75.90 on Friday. The company’s fifty day moving average is $75.26 and its 200 day moving average is $70.84. Allison Transmission has a fifty-two week low of $50.13 and a fifty-two week high of $83.42. The stock has a market capitalization of $6.64 billion, a PE ratio of 10.13, a P/E/G ratio of 1.41 and a beta of 1.02. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.95 and a current ratio of 2.51.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Thursday, April 25th. The auto parts company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.01. Allison Transmission had a net margin of 21.80% and a return on equity of 55.83%. The company had revenue of $789.00 million for the quarter, compared to analysts’ expectations of $772.37 million. During the same quarter in the previous year, the business posted $1.85 earnings per share. Allison Transmission’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts expect that Allison Transmission will post 7.56 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a $0.25 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. Allison Transmission’s payout ratio is 13.35%.

Insider Transactions at Allison Transmission

In other Allison Transmission news, VP Rafael Basso sold 12,624 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $74.48, for a total transaction of $940,235.52. Following the transaction, the vice president now owns 4,624 shares in the company, valued at $344,395.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Allison Transmission

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Allison Transmission in the fourth quarter valued at $56,334,000. Vision One Management Partners LP purchased a new position in Allison Transmission in the fourth quarter valued at $17,848,000. Prevatt Capital Ltd purchased a new position in Allison Transmission in the fourth quarter valued at $14,538,000. Allspring Global Investments Holdings LLC boosted its holdings in Allison Transmission by 108.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 259,311 shares of the auto parts company’s stock valued at $21,046,000 after purchasing an additional 135,194 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Allison Transmission by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,863,151 shares of the auto parts company’s stock valued at $108,345,000 after purchasing an additional 118,648 shares during the period. Institutional investors and hedge funds own 96.90% of the company’s stock.

Allison Transmission Company Profile

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.