Allison Transmission (NYSE:ALSN) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of Allison Transmission (NYSE:ALSN) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

Several other equities analysts have also commented on ALSN. Morgan Stanley upped their price target on shares of Allison Transmission from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, March 16th. JPMorgan Chase & Co. lifted their price target on shares of Allison Transmission from $87.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Weiss Ratings cut shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 25th. Wells Fargo & Company upped their price objective on Allison Transmission from $98.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Finally, Raymond James Financial increased their target price on Allison Transmission from $110.00 to $115.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $112.00.

Allison Transmission Trading Up 1.0%

Shares of ALSN stock opened at $119.02 on Tuesday. The firm’s 50-day simple moving average is $115.52 and its 200-day simple moving average is $98.52. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.85 and a quick ratio of 4.17. Allison Transmission has a 1-year low of $76.01 and a 1-year high of $128.85. The firm has a market cap of $9.86 billion, a P/E ratio of 16.24, a PEG ratio of 0.78 and a beta of 0.96.

Allison Transmission Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Monday, March 9th were issued a $0.29 dividend. The ex-dividend date 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 yield of 1.0%. Allison Transmission’s payout ratio is 15.83%.

Insider Buying and Selling

In other Allison Transmission news, insider Eric C. Scroggins sold 1,313 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $114.40, for a total transaction of $150,207.20. Following the completion of the sale, the insider directly owned 17,654 shares in the company, valued at $2,019,617.60. The trade was a 6.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Coll sold 1,791 shares of the stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $98.79, for a total transaction of $176,932.89. Following the completion of the sale, the senior vice president directly owned 10,021 shares of the company’s stock, valued at $989,974.59. The trade was a 15.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Institutional Trading of Allison Transmission

Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its position in Allison Transmission by 4,032.3% in the fourth quarter. Bank of Montreal Can now owns 2,151,871 shares of the auto parts company’s stock valued at $210,668,000 after purchasing an additional 2,099,797 shares during the period. Norges Bank acquired a new stake in shares of Allison Transmission in the fourth quarter valued at about $115,674,000. Boston Partners grew its stake in shares of Allison Transmission by 117.6% in the third quarter. Boston Partners now owns 2,038,429 shares of the auto parts company’s stock valued at $173,093,000 after buying an additional 1,101,824 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Allison Transmission by 191.7% during the 4th quarter. Millennium Management LLC now owns 1,257,353 shares of the auto parts company’s stock valued at $123,095,000 after buying an additional 826,352 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Allison Transmission by 128.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,215,897 shares of the auto parts company’s stock valued at $115,498,000 after buying an additional 683,035 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.

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.