Allient (NASDAQ:ALNT) Cut to “Neutral” at JPMorgan Chase & Co.

by · The Markets Daily

JPMorgan Chase & Co. cut shares of Allient (NASDAQ:ALNT – Free Report) from an overweight rating to a neutral rating in a research report released on Tuesday, Marketbeat reports. JPMorgan Chase & Co. currently has $120.00 price objective on the stock.

ALNT has been the topic of a number of other research reports. Wall Street Zen lowered shares of Allient from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 19th. Weiss Ratings upgraded shares of Allient from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Zacks Research downgraded shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Read Our Latest Analysis on Allient

Allient Trading Down 2.2%

NASDAQ ALNT opened at $96.99 on Tuesday. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 57.05 and a beta of 1.58. The stock’s 50 day moving average price is $103.57 and its two-hundred day moving average price is $88.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 3.42. Allient has a 52 week low of $44.30 and a 52 week high of $121.42.

Allient (NASDAQ:ALNT – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.19. The firm had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. As a group, analysts anticipate that Allient will post 2.72 earnings per share for the current fiscal year.

Allient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Allient’s dividend payout ratio (DPR) is 9.41%.

Insider Buying and Selling at Allient

In other news, CEO Richard Warzala sold 70,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the transaction, the chief executive officer directly owned 1,499,106 shares in the company, valued at $170,268,459.48. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allient

Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in Allient during the second quarter worth approximately $9,051,000. BlackRock Inc. bought a new stake in Allient in the second quarter valued at approximately $128,774,000. Susquehanna Fundamental Investments LLC bought a new stake in Allient in the second quarter valued at approximately $3,181,000. Sei Investments Co. lifted its position in shares of Allient by 87.9% in the first quarter. Sei Investments Co. now owns 55,424 shares of the company’s stock valued at $3,275,000 after buying an additional 25,935 shares during the last quarter. Finally, Tulsa Wealth Advisors INC bought a new position in shares of Allient during the 4th quarter worth approximately $659,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Allient Company Profile

(Get Free Report)

Allient Inc (NASDAQ: ALNT) is a global manufacturer of precision and specialty motion-control products. The company designs and produces motors, motion controllers, drives, servo systems, electromechanical assemblies, and related components used to control movement and power in complex equipment.

Allient serves a range of markets, including medical equipment, aerospace and defense, industrial automation, robotics, vehicle systems, and other demanding applications. Its products are used in areas such as surgical and diagnostic equipment, factory automation, unmanned systems, and precision machinery.

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