Allison Transmission (NYSE:ALSN) Sets New 52-Week High After Better-Than-Expected Earnings

Allison Transmission Holdings, Inc. (NYSE:ALSN - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $104.00 and last traded at $104.00, with a volume of 138 shares. The stock had previously closed at $100.15.

The auto parts company reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.26. The firm had revenue of $824.00 million during the quarter, compared to the consensus estimate of $790.08 million. Allison Transmission had a return on equity of 52.18% and a net margin of 21.95%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.76 earnings per share.

Allison Transmission Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 0.92%. Allison Transmission's dividend payout ratio is currently 13.35%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup boosted their target price on shares of Allison Transmission from $97.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. StockNews.com raised shares of Allison Transmission from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 10th. The Goldman Sachs Group upped their price target on shares of Allison Transmission from $63.00 to $72.00 and gave the stock a "sell" rating in a research note on Monday, July 29th. Oppenheimer upped their price target on shares of Allison Transmission from $90.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Bank of America upped their price target on shares of Allison Transmission from $67.00 to $77.00 and gave the stock an "underperform" rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $91.00.

Insider Buying and Selling at Allison Transmission

In other Allison Transmission news, VP Thomas Eifert sold 1,741 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $100.00, for a total transaction of $174,100.00. Following the completion of the sale, the vice president now directly owns 9,601 shares in the company, valued at $960,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Thomas Eifert sold 1,741 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $100.00, for a total transaction of $174,100.00. Following the completion of the transaction, the vice president now owns 9,601 shares of the company's stock, valued at approximately $960,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Coll sold 2,000 shares of the company's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $90.98, for a total transaction of $181,960.00. Following the transaction, the senior vice president now directly owns 12,420 shares of the company's stock, valued at $1,129,971.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,741 shares of company stock worth $546,060 over the last ninety days. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC raised its position in Allison Transmission by 4.4% in the third quarter. Private Advisor Group LLC now owns 3,972 shares of the auto parts company's stock worth $382,000 after purchasing an additional 167 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Allison Transmission by 24.0% during the second quarter. Quent Capital LLC now owns 889 shares of the auto parts company's stock worth $68,000 after buying an additional 172 shares in the last quarter. Miller Howard Investments Inc. NY grew its stake in shares of Allison Transmission by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 8,911 shares of the auto parts company's stock valued at $676,000 after purchasing an additional 186 shares during the last quarter. Americana Partners LLC grew its stake in shares of Allison Transmission by 3.9% during the second quarter. Americana Partners LLC now owns 5,069 shares of the auto parts company's stock valued at $385,000 after purchasing an additional 191 shares during the last quarter. Finally, Raymond James Trust N.A. grew its stake in shares of Allison Transmission by 4.1% during the second quarter. Raymond James Trust N.A. now owns 5,072 shares of the auto parts company's stock valued at $385,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 96.90% of the company's stock.

Allison Transmission Price Performance

The company has a debt-to-equity ratio of 1.62, a current ratio of 2.78 and a quick ratio of 2.19. The company's 50 day moving average price is $93.79 and its 200 day moving average price is $83.77. The firm has a market capitalization of $9.46 billion, a P/E ratio of 14.43, a PEG ratio of 1.78 and a beta of 0.99.

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.