Allison Transmission (NYSE:ALSN) Reaches New 52-Week High – Here’s Why

Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) hit a new 52-week high during trading on Monday . The stock traded as high as $101.40 and last traded at $100.18, with a volume of 51680 shares. The stock had previously closed at $100.60.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ALSN shares. The Goldman Sachs Group raised their price objective on Allison Transmission from $63.00 to $72.00 and gave the company a “sell” rating in a research report on Monday, July 29th. StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Robert W. Baird lifted their price objective on Allison Transmission from $87.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Citigroup increased their target price on Allison Transmission from $97.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Raymond James started coverage on shares of Allison Transmission in a research report on Friday, June 28th. They issued an “outperform” rating and a $85.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.86.

Allison Transmission Price Performance

The firm has a market capitalization of $8.61 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99. 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 firm has a 50 day moving average price of $92.45 and a 200-day moving average price of $83.17.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings results on Thursday, July 25th. The auto parts company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.09. Allison Transmission had a return on equity of 52.18% and a net margin of 21.95%. The company had revenue of $816.00 million during the quarter, compared to the consensus estimate of $799.44 million. During the same period last year, the company earned $1.92 earnings per share. Allison Transmission’s revenue was up 4.2% on a year-over-year basis. On average, analysts expect that Allison Transmission Holdings, Inc. will post 7.85 earnings per share for the current year.

Allison Transmission Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.02%. Allison Transmission’s payout ratio is 13.35%.

Insiders Place Their Bets

In other news, VP Thomas Eifert sold 1,741 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $100.00, for a total transaction of $174,100.00. Following the transaction, the vice president now owns 9,601 shares of the company’s stock, valued at approximately $960,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Thomas Eifert sold 1,741 shares of the business’s stock in a transaction on Monday, October 7th. The shares were 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 directly owns 9,601 shares of the company’s stock, valued at approximately $960,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $90.98, for a total transaction of $181,960.00. Following the completion of the transaction, the senior vice president now directly owns 12,420 shares in the company, valued at $1,129,971.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,741 shares of company stock valued at $546,060 over the last 90 days. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Allison Transmission

A number of large investors have recently bought and sold shares of ALSN. Impact Partnership Wealth LLC purchased a new position in shares of Allison Transmission in the third quarter worth $223,000. Lecap Asset Management Ltd. acquired a new stake in shares of Allison Transmission during the third quarter worth about $1,418,000. Private Advisor Group LLC lifted its holdings in shares of Allison Transmission by 4.4% during the third quarter. Private Advisor Group LLC now owns 3,972 shares of the auto parts company’s stock worth $382,000 after purchasing an additional 167 shares during the period. Copeland Capital Management LLC boosted its position in Allison Transmission by 0.9% in the third quarter. Copeland Capital Management LLC now owns 636,205 shares of the auto parts company’s stock valued at $61,120,000 after buying an additional 5,489 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Allison Transmission by 5.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 247,318 shares of the auto parts company’s stock worth $23,760,000 after purchasing an additional 13,585 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.