Royal Bank of Canada downgraded shares of Allison Transmission (NYSE:ALSN) from an outperform rating to a sector perform rating in a report published on Friday, Marketbeat Ratings reports. Royal Bank of Canada currently has $50.00 price target on the auto parts company’s stock, up from their previous price target of $46.00.
ALSN has been the topic of a number of other research reports. Robert W. Baird restated a buy rating and issued a $52.00 price target on shares of Allison Transmission in a research report on Wednesday, November 1st. BidaskClub upgraded Allison Transmission from a hold rating to a buy rating in a research report on Saturday, October 21st. Zacks Investment Research upgraded Allison Transmission from a hold rating to a buy rating and set a $47.00 price target on the stock in a research report on Tuesday, February 13th. Piper Jaffray Companies set a $26.00 price target on Allison Transmission and gave the stock a sell rating in a research report on Friday, November 17th. Finally, JPMorgan Chase & Co. raised their price target on Allison Transmission from $39.00 to $41.00 and gave the stock a neutral rating in a research report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $44.00.
Allison Transmission (ALSN) opened at $39.32 on Friday. The company has a debt-to-equity ratio of 3.68, a current ratio of 1.52 and a quick ratio of 1.15. Allison Transmission has a 12-month low of $32.93 and a 12-month high of $45.69. The company has a market capitalization of $5,570.00, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.38 and a beta of 1.14.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, February 16th. Allison Transmission’s dividend payout ratio (DPR) is presently 17.49%.
Allison Transmission announced that its board has authorized a stock repurchase plan on Wednesday, November 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other news, Director James A. Star sold 640,835 shares of Allison Transmission stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $44.39, for a total transaction of $28,446,665.65. Following the sale, the director now directly owns 41,450 shares of the company’s stock, valued at $1,839,965.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David S. Graziosi sold 1,800 shares of Allison Transmission stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $42.04, for a total value of $75,672.00. The disclosure for this sale can be found here. Insiders sold 3,405,629 shares of company stock worth $149,746,270 over the last ninety days. 7.90% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Allison Transmission by 12.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock valued at $201,000 after purchasing an additional 607 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Allison Transmission by 14.4% during the third quarter. Hillsdale Investment Management Inc. now owns 9,435 shares of the auto parts company’s stock valued at $354,000 after purchasing an additional 1,190 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Allison Transmission by 2.0% during the fourth quarter. First Trust Advisors LP now owns 76,528 shares of the auto parts company’s stock valued at $3,296,000 after purchasing an additional 1,474 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Allison Transmission by 5.5% during the fourth quarter. Aperio Group LLC now owns 30,413 shares of the auto parts company’s stock valued at $1,310,000 after purchasing an additional 1,573 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Allison Transmission by 22.3% during the third quarter. SG Americas Securities LLC now owns 9,735 shares of the auto parts company’s stock valued at $365,000 after purchasing an additional 1,778 shares in the last quarter.
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About Allison Transmission
Allison Transmission Holdings, Inc and its subsidiaries design and manufacture commercial and defense fully-automatic transmissions. The Company manufactures fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium-and heavy-tactical United States defense vehicles. The Company’s transmissions are used in a range of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (primarily school, transit and hybrid-transit), motorhomes, off-highway vehicles and equipment (energy, mining and construction) and defense vehicles (wheeled and tracked).
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