Allison Transmission (NYSE:ALSN) Sets New 52-Week High After Earnings Beat

Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $104.00 and last traded at $104.00, with a volume of 138 shares trading hands. The stock had previously closed at $100.15.

The auto parts company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.26. The company had revenue of $824.00 million during the quarter, compared to analyst estimates of $790.08 million. Allison Transmission had a net margin of 21.95% and a return on equity of 52.18%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.76 earnings per share.

Allison Transmission Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders 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 yield of 0.94%. Allison Transmission’s payout ratio is 13.35%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALSN. StockNews.com raised shares of Allison Transmission from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Robert W. Baird raised their target price on shares of Allison Transmission from $103.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group upped their price target on shares of Allison Transmission from $63.00 to $72.00 and gave the stock a “sell” rating in a research report on Monday, July 29th. Citigroup upped their price objective on Allison Transmission from $97.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Bank of America lifted their price target on shares of Allison Transmission from $67.00 to $77.00 and gave the stock an “underperform” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $91.00.

Insiders Place Their Bets

In other news, SVP John Coll sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $90.98, for a total value of $181,960.00. Following the completion of the sale, the senior vice president now directly owns 12,420 shares of the company’s stock, valued at approximately $1,129,971.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Allison Transmission news, SVP John Coll sold 2,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $90.98, for a total transaction of $181,960.00. Following the sale, the senior vice president now directly owns 12,420 shares in the company, valued at approximately $1,129,971.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas Eifert sold 1,741 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $100.00, for a total transaction of $174,100.00. Following the completion of the sale, the vice president now owns 9,601 shares in the company, valued at $960,100. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,741 shares of company stock valued at $546,060. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allison Transmission

Hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC raised its stake in shares of Allison Transmission by 4.4% in the 3rd quarter. Private Advisor Group LLC now owns 3,972 shares of the auto parts company’s stock valued at $382,000 after purchasing an additional 167 shares in the last quarter. Quent Capital LLC grew its position in shares of Allison Transmission by 24.0% in the 2nd quarter. Quent Capital LLC now owns 889 shares of the auto parts company’s stock worth $68,000 after acquiring an additional 172 shares in the last quarter. Miller Howard Investments Inc. NY increased its holdings in shares of Allison Transmission by 2.1% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 8,911 shares of the auto parts company’s stock valued at $676,000 after acquiring an additional 186 shares during the last quarter. Americana Partners LLC raised its position in shares of Allison Transmission by 3.9% during the 2nd quarter. Americana Partners LLC now owns 5,069 shares of the auto parts company’s stock valued at $385,000 after acquiring an additional 191 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in Allison Transmission by 4.1% in the second quarter. Raymond James Trust N.A. now owns 5,072 shares of the auto parts company’s stock worth $385,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Allison Transmission Stock Performance

The stock’s 50-day moving average price is $94.57 and its 200-day moving average price is $84.10. The company has a current ratio of 2.78, a quick ratio of 2.19 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $9.35 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.78 and a beta of 0.99.

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.