Allison Transmission (NYSE:ALSN) Hits New 52-Week High – Here’s What Happened

Allison Transmission Holdings, Inc. (NYSE:ALSN)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $131.62 and last traded at $130.9370, with a volume of 121448 shares changing hands. The stock had previously closed at $129.74.

Analyst Ratings Changes

ALSN has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Allison Transmission from $87.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Oppenheimer upped their price objective on shares of Allison Transmission from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Citigroup upped their price objective on shares of Allison Transmission from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Zacks Research cut shares of Allison Transmission from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, Morgan Stanley upped their price objective on shares of Allison Transmission from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $114.13.

Allison Transmission Trading Up 1.3%

The company has a current ratio of 4.85, a quick ratio of 4.17 and a debt-to-equity ratio of 1.55. The business’s 50-day simple moving average is $120.02 and its two-hundred day simple moving average is $103.51. The company has a market capitalization of $11.06 billion, a PE ratio of 18.15, a PEG ratio of 0.87 and a beta of 0.97.

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Monday, March 9th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, March 9th. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 0.9%. Allison Transmission’s dividend payout ratio is 15.83%.

Insider Activity at Allison Transmission

In other news, insider Eric C. Scroggins sold 1,313 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $114.40, for a total transaction of $150,207.20. Following the transaction, the insider owned 17,654 shares of the company’s stock, valued at approximately $2,019,617.60. This trade represents a 6.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Allison Transmission

Large investors have recently modified their holdings of the stock. Rossby Financial LCC lifted its position in shares of Allison Transmission by 107.0% during the third quarter. Rossby Financial LCC now owns 296 shares of the auto parts company’s stock worth $25,000 after purchasing an additional 153 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Allison Transmission by 536.7% during the fourth quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 263 shares during the last quarter. Transamerica Financial Advisors LLC lifted its position in shares of Allison Transmission by 2,112.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company’s stock worth $35,000 after purchasing an additional 338 shares during the last quarter. True Wealth Design LLC lifted its position in shares of Allison Transmission by 93.2% during the third quarter. True Wealth Design LLC now owns 452 shares of the auto parts company’s stock worth $38,000 after purchasing an additional 218 shares during the last quarter. Finally, First Horizon Corp bought a new position in shares of Allison Transmission during the third quarter worth about $40,000. Institutional investors own 96.90% of the company’s stock.

About Allison Transmission

Allison Transmission Holdings Inc is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company’s products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison’s core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.

In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.