Allison Transmission Holdings Inc (NYSE:ALSN) released its earnings results on Monday, July 31st. The auto parts company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.16, Bloomberg Earnings reports. Allison Transmission Holdings had a return on equity of 53.18% and a net margin of 16.38%. The business had revenue of $580 million for the quarter, compared to the consensus estimate of $515.03 million. During the same period last year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year.
Shares of Allison Transmission Holdings (NYSE ALSN) opened at 35.03 on Friday. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 19.89 and a beta of 1.18. Allison Transmission Holdings has a 52-week low of $26.74 and a 52-week high of $40.25. The stock has a 50 day moving average of $37.49 and a 200 day moving average of $37.04.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, August 21st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.71%. The ex-dividend date is Thursday, August 17th. Allison Transmission Holdings’s dividend payout ratio is 33.71%.
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A number of equities research analysts have weighed in on the company. J P Morgan Chase & Co downgraded Allison Transmission Holdings from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $39.00 in a report on Thursday. Royal Bank Of Canada restated an “outperform” rating and issued a $48.00 price objective (up previously from $46.00) on shares of Allison Transmission Holdings in a research report on Tuesday, August 8th. Stifel Nicolaus set a $41.00 price objective on shares of Allison Transmission Holdings and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Deutsche Bank AG dropped their target price on shares of Allison Transmission Holdings from $44.00 to $43.00 and set a “hold” rating for the company in a research report on Wednesday, August 2nd. Finally, Robert W. Baird raised shares of Allison Transmission Holdings from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $43.00 to $51.00 in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Allison Transmission Holdings presently has a consensus rating of “Hold” and an average price target of $40.40.
In other news, SVP Michael Dick sold 7,342 shares of Allison Transmission Holdings stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $38.02, for a total transaction of $279,142.84. Following the sale, the senior vice president now owns 36,931 shares in the company, valued at $1,404,116.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Randall R. Kirk sold 7,222 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $38.73, for a total transaction of $279,708.06. Following the sale, the senior vice president now directly owns 75,212 shares of the company’s stock, valued at $2,912,960.76. The disclosure for this sale can be found here. In the last three months, insiders sold 132,584 shares of company stock worth $5,126,514. 7.90% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. ETRADE Capital Management LLC increased its position in shares of Allison Transmission Holdings by 4.9% in the second quarter. ETRADE Capital Management LLC now owns 30,296 shares of the auto parts company’s stock valued at $1,136,000 after buying an additional 1,410 shares during the last quarter. Pinebridge Investments L.P. increased its stake in shares of Allison Transmission Holdings by 10,487.0% in the second quarter. Pinebridge Investments L.P. now owns 74,109 shares of the auto parts company’s stock worth $2,780,000 after buying an additional 73,409 shares during the period. Menta Capital LLC bought a new stake in shares of Allison Transmission Holdings during the second quarter worth about $206,000. UBS Asset Management Americas Inc. increased its stake in shares of Allison Transmission Holdings by 19.7% in the second quarter. UBS Asset Management Americas Inc. now owns 105,980 shares of the auto parts company’s stock worth $3,975,000 after buying an additional 17,468 shares during the period. Finally, Quantitative Investment Management LLC bought a new stake in shares of Allison Transmission Holdings during the second quarter worth about $2,333,000.
About Allison Transmission Holdings
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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