JPMorgan Chase & Co. Lowers Allison Transmission (NYSE:ALSN) Price Target to $110.00

Allison Transmission (NYSE:ALSN) had its target price lowered by JPMorgan Chase & Co. from $129.00 to $110.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the auto parts company’s stock.

A number of other research analysts also recently commented on ALSN. Morgan Stanley boosted their price target on Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group boosted their price target on Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 12th. Citigroup dropped their price target on Allison Transmission from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Finally, StockNews.com downgraded Allison Transmission from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Allison Transmission has an average rating of “Hold” and a consensus target price of $102.00.

Allison Transmission Stock Down 0.4 %

ALSN stock opened at $98.82 on Tuesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 11.89 and a beta of 1.02. The business’s fifty day moving average price is $107.14 and its two-hundred day moving average price is $105.76. Allison Transmission has a fifty-two week low of $71.49 and a fifty-two week high of $122.53.

Allison Transmission (NYSE:ALSN) last posted its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. On average, equities analysts anticipate that Allison Transmission will post 9.06 earnings per share for the current year.

Allison Transmission Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.27 per share. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 3rd. This represents a $1.08 annualized dividend and a yield of 1.09%. Allison Transmission’s payout ratio is presently 13.00%.

Allison Transmission announced that its board has authorized a stock buyback program on Thursday, February 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the auto parts company to repurchase up to 57.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Allison Transmission

In other news, VP Ryan A. Milburn sold 4,546 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $96.20, for a total transaction of $437,325.20. Following the sale, the vice president now directly owns 14,138 shares in the company, valued at approximately $1,360,075.60. The trade was a 24.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John Coll sold 2,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $108.40, for a total value of $216,800.00. Following the sale, the senior vice president now owns 6,420 shares in the company, valued at approximately $695,928. This trade represents a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Allison Transmission

Several institutional investors have recently added to or reduced their stakes in ALSN. GSA Capital Partners LLP bought a new stake in Allison Transmission in the third quarter valued at approximately $560,000. Victory Capital Management Inc. boosted its holdings in Allison Transmission by 86.7% in the third quarter. Victory Capital Management Inc. now owns 245,148 shares of the auto parts company’s stock valued at $23,551,000 after acquiring an additional 113,868 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Allison Transmission by 133.0% in the third quarter. Oppenheimer & Co. Inc. now owns 13,917 shares of the auto parts company’s stock valued at $1,337,000 after acquiring an additional 7,944 shares during the last quarter. KBC Group NV boosted its holdings in Allison Transmission by 15.0% in the third quarter. KBC Group NV now owns 2,221 shares of the auto parts company’s stock valued at $213,000 after acquiring an additional 290 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Allison Transmission in the third quarter valued at approximately $244,000. 96.90% of the stock is currently owned by institutional investors.

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.