Allison Transmission (NYSE:ALSN) Releases Earnings Results, Beats Expectations By $0.47 EPS
by Teresa Graham · The Cerbat GemAllison Transmission (NYSE:ALSN – Get Free Report) released its quarterly earnings data on Monday. The auto parts company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.47, Zacks reports. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. Allison Transmission had a return on equity of 37.41% and a net margin of 20.70%.
Allison Transmission Stock Down 1.5%
Shares of ALSN stock traded down $2.01 on Monday, reaching $129.22. 1,288,557 shares of the company’s stock traded hands, compared to its average volume of 855,465. The company has a market capitalization of $10.74 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 0.79 and a beta of 1.01. Allison Transmission has a 12-month low of $76.01 and a 12-month high of $137.62. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.17 and a current ratio of 4.85. The business’s 50 day moving average price is $121.93 and its two-hundred day moving average price is $105.82.
Allison Transmission Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Monday, March 9th were issued a dividend of $0.29 per share. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, March 9th. Allison Transmission’s dividend payout ratio is presently 15.83%.
Insider Buying and Selling
In other Allison Transmission news, insider Eric C. Scroggins sold 1,313 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $114.40, for a total transaction of $150,207.20. Following the completion of the sale, the insider directly owned 17,654 shares in the company, valued at approximately $2,019,617.60. This trade represents a 6.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.
Institutional Trading of Allison Transmission
A number of hedge funds have recently made changes to their positions in ALSN. Corient Private Wealth LLC increased its stake in Allison Transmission by 487.2% in the 4th quarter. Corient Private Wealth LLC now owns 236,615 shares of the auto parts company’s stock valued at $23,165,000 after buying an additional 196,321 shares during the period. Alberta Investment Management Corp acquired a new stake in shares of Allison Transmission during the 4th quarter valued at $1,576,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of Allison Transmission by 29.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 22,460 shares of the auto parts company’s stock valued at $2,199,000 after buying an additional 5,095 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Allison Transmission during the 4th quarter valued at $762,000. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Allison Transmission by 16.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,313,661 shares of the auto parts company’s stock valued at $324,407,000 after acquiring an additional 466,366 shares in the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ALSN has been the subject of several analyst reports. Weiss Ratings downgraded Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 25th. Wells Fargo & Company lifted their price target on Allison Transmission from $98.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. Oppenheimer boosted their price objective on Allison Transmission from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Citigroup upped their price objective on shares of Allison Transmission from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Allison Transmission from $87.00 to $115.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $114.13.
Read Our Latest Stock Analysis on ALSN
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.