Allison Transmission (NYSE:ALSN) Price Target Lowered to $98.00 at JPMorgan Chase & Co.

Allison Transmission (NYSE:ALSN) had its target price lowered by JPMorgan Chase & Co. from $110.00 to $98.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the auto parts company’s stock.

Several other equities research analysts have also issued reports on ALSN. StockNews.com lowered shares of Allison Transmission from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Citigroup dropped their price target on shares of Allison Transmission from $108.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group raised their price target on shares of Allison Transmission from $82.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley upped their price objective 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Allison Transmission currently has an average rating of “Hold” and a consensus price target of $98.00.

Allison Transmission Stock Performance

ALSN opened at $88.65 on Friday. The company has a market cap of $7.55 billion, a PE ratio of 10.67 and a beta of 0.95. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.42 and a current ratio of 3.04. The stock has a 50-day moving average of $98.58 and a 200-day moving average of $106.32. Allison Transmission has a 52-week low of $71.49 and a 52-week high of $122.53.

Allison Transmission (NYSE:ALSN) last released its earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share (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%. As a group, equities research analysts forecast that Allison Transmission will post 9.06 earnings per share for the current fiscal year.

Allison Transmission announced that its board has authorized a share buyback plan on Thursday, February 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the auto parts company to repurchase up to 57.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Allison Transmission Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.27 dividend. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, March 3rd. Allison Transmission’s payout ratio is presently 13.00%.

Insider Buying and Selling at Allison Transmission

In other news, SVP John Coll sold 1,788 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $95.33, for a total transaction of $170,450.04. Following the transaction, the senior vice president now directly owns 15,388 shares in the company, valued at approximately $1,466,938.04. This represents a 10.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ryan A. Milburn sold 4,546 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $96.20, for a total transaction of $437,325.20. Following the completion of the sale, the vice president now directly owns 14,138 shares of the company’s stock, valued at approximately $1,360,075.60. This represents a 24.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Allison Transmission

Institutional investors and hedge funds have recently made changes to their positions in the company. Transce3nd LLC bought a new position in Allison Transmission in the fourth quarter valued at about $25,000. SRH Advisors LLC bought a new position in shares of Allison Transmission in the 4th quarter valued at about $26,000. World Investment Advisors LLC bought a new position in shares of Allison Transmission in the 3rd quarter valued at about $29,000. Kestra Investment Management LLC acquired a new stake in shares of Allison Transmission during the 4th quarter worth approximately $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Allison Transmission during the fourth quarter worth approximately $31,000. 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.