Short Interest in Allison Transmission Holdings, Inc. (NYSE:ALSN) Drops By 22.6%

Allison Transmission Holdings, Inc. (NYSE:ALSN) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totaling 2,547,510 shares, a drop of 22.6% from the November 30th total of 3,293,476 shares. Based on an average daily volume of 1,163,950 shares, the days-to-cover ratio is presently 2.2 days. Currently, 3.1% of the shares of the stock are sold short. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily volume of 1,163,950 shares, the days-to-cover ratio is presently 2.2 days.

Analysts Set New Price Targets

Several equities analysts have commented on ALSN shares. Citigroup increased their price objective on shares of Allison Transmission from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, December 19th. Weiss Ratings cut Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. JPMorgan Chase & Co. decreased their price target on Allison Transmission from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Wells Fargo & Company assumed coverage on shares of Allison Transmission in a research note on Thursday, November 13th. They set an “equal weight” rating and a $85.00 price objective for the company. Finally, Zacks Research upgraded shares of Allison Transmission from a “strong sell” rating to a “hold” rating in a research report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.13.

Institutional Investors Weigh In On Allison Transmission

Several hedge funds and other institutional investors have recently made changes to their positions in ALSN. Tudor Investment Corp ET AL boosted its stake in shares of Allison Transmission by 73.9% during the third quarter. Tudor Investment Corp ET AL now owns 314,434 shares of the auto parts company’s stock worth $26,689,000 after buying an additional 133,620 shares during the period. Swiss Life Asset Management Ltd raised its stake in Allison Transmission by 77.4% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 3,921 shares of the auto parts company’s stock valued at $333,000 after purchasing an additional 1,711 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Allison Transmission by 34.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 12,365 shares of the auto parts company’s stock worth $1,050,000 after purchasing an additional 3,155 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Allison Transmission in the third quarter worth approximately $2,235,000. Finally, Tweedy Browne Co LLC purchased a new stake in Allison Transmission during the third quarter valued at about $745,000. Institutional investors and hedge funds own 96.90% of the company’s stock.

Allison Transmission Price Performance

ALSN traded down $0.88 during midday trading on Tuesday, hitting $98.97. 525,774 shares of the company traded hands, compared to its average volume of 983,735. Allison Transmission has a 52-week low of $76.01 and a 52-week high of $121.81. The business has a 50 day simple moving average of $89.20 and a two-hundred day simple moving average of $88.81. The company has a current ratio of 3.82, a quick ratio of 3.06 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 12.13 and a beta of 0.99.

Allison Transmission (NYSE:ALSN) last posted its quarterly earnings results on Wednesday, October 29th. The auto parts company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.32). Allison Transmission had a return on equity of 40.46% and a net margin of 22.78%.The business had revenue of $693.00 million for the quarter, compared to analyst estimates of $779.97 million. During the same quarter in the previous year, the firm posted $2.27 earnings per share. The business’s revenue was down 15.9% compared to the same quarter last year. On average, equities analysts forecast that Allison Transmission will post 9.06 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, November 21st. Allison Transmission’s dividend payout ratio (DPR) is 13.24%.

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.