Allison Transmission (NYSE:ALSN) Price Target Increased to $78.00 by Analysts at JPMorgan Chase & Co.

Allison Transmission (NYSE:ALSN) had its price objective hoisted by JPMorgan Chase & Co. from $70.00 to $78.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the auto parts company’s stock.

ALSN has been the subject of a number of other reports. The Goldman Sachs Group lifted their price objective on Allison Transmission from $48.00 to $55.00 and gave the stock a sell rating in a research report on Thursday, February 15th. StockNews.com upgraded Allison Transmission from a buy rating to a strong-buy rating in a research report on Wednesday, February 14th. Oppenheimer increased their target price on Allison Transmission from $67.00 to $90.00 and gave the company an outperform rating in a research report on Tuesday, March 26th. Robert W. Baird increased their price target on Allison Transmission from $63.00 to $68.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley initiated coverage on Allison Transmission in a research note on Monday, January 8th. They set an equal weight rating and a $62.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $65.88.

Allison Transmission Price Performance

NYSE ALSN opened at $79.39 on Monday. The stock’s 50-day moving average price is $76.36 and its two-hundred day moving average price is $63.51. The company has a current ratio of 2.49, a quick ratio of 1.94 and a debt-to-equity ratio of 2.03. The company has a market cap of $6.96 billion, a PE ratio of 10.67, a PEG ratio of 1.48 and a beta of 1.03. Allison Transmission has a 1 year low of $44.68 and a 1 year high of $83.42.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Tuesday, February 13th. The auto parts company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.42 by $0.49. Allison Transmission had a return on equity of 60.35% and a net margin of 22.17%. The business had revenue of $775.00 million during the quarter, compared to analysts’ expectations of $744.00 million. During the same quarter in the previous year, the business posted $1.52 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts predict that Allison Transmission will post 7.72 EPS for the current year.

Allison Transmission Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were given a $0.25 dividend. This is an increase from Allison Transmission’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Friday, March 1st. Allison Transmission’s dividend payout ratio (DPR) is currently 13.44%.

Insider Activity

In other news, CEO David S. Graziosi sold 76,318 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $70.57, for a total value of $5,385,761.26. Following the completion of the sale, the chief executive officer now owns 125,479 shares of the company’s stock, valued at approximately $8,855,053.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Ryan A. Milburn sold 2,598 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $75.40, for a total transaction of $195,889.20. Following the transaction, the vice president now owns 14,456 shares in the company, valued at approximately $1,089,982.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David S. Graziosi sold 76,318 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $70.57, for a total value of $5,385,761.26. Following the transaction, the chief executive officer now owns 125,479 shares in the company, valued at approximately $8,855,053.03. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,843 shares of company stock worth $6,244,562. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALSN. AMI Investment Management Inc. grew its stake in shares of Allison Transmission by 7.1% in the 1st quarter. AMI Investment Management Inc. now owns 97,189 shares of the auto parts company’s stock worth $3,816,000 after buying an additional 6,438 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Allison Transmission by 5.1% in the 1st quarter. JPMorgan Chase & Co. now owns 334,703 shares of the auto parts company’s stock worth $13,140,000 after purchasing an additional 16,209 shares during the period. Raymond James & Associates raised its holdings in Allison Transmission by 267.3% in the 1st quarter. Raymond James & Associates now owns 33,711 shares of the auto parts company’s stock worth $1,323,000 after purchasing an additional 24,534 shares during the period. Citigroup Inc. raised its holdings in Allison Transmission by 1.5% in the 1st quarter. Citigroup Inc. now owns 74,855 shares of the auto parts company’s stock worth $2,938,000 after purchasing an additional 1,127 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Allison Transmission by 31.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,096 shares of the auto parts company’s stock worth $514,000 after buying an additional 3,142 shares in the last quarter. Hedge funds and other 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.