Allison Transmission (NYSE:ALSN) Issues Quarterly Earnings Results

Allison Transmission (NYSE:ALSN) issued its quarterly earnings results on Thursday. The auto parts company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01, Yahoo Finance reports. The firm had revenue of $789.00 million for the quarter, compared to analyst estimates of $772.37 million. Allison Transmission had a net margin of 21.80% and a return on equity of 58.05%. Allison Transmission’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $1.85 EPS. Allison Transmission updated its FY 2024 guidance to EPS.

Allison Transmission Stock Up 2.1 %

NYSE ALSN traded up $1.60 on Monday, reaching $76.09. The company had a trading volume of 1,339,641 shares, compared to its average volume of 688,034. The firm has a market capitalization of $6.67 billion, a PE ratio of 9.95, a P/E/G ratio of 1.38 and a beta of 1.03. The firm has a 50-day moving average of $77.83 and a 200-day moving average of $64.39. Allison Transmission has a 1 year low of $45.36 and a 1 year high of $83.42. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.49 and a quick ratio of 1.94.

Allison Transmission Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a $0.25 dividend. This is an increase from Allison Transmission’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, March 1st. Allison Transmission’s dividend payout ratio is currently 13.35%.

Analyst Ratings Changes

Several brokerages have recently commented on ALSN. Robert W. Baird upped their price target on Allison Transmission from $84.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley assumed coverage on shares of Allison Transmission in a research note on Monday, January 8th. They issued an “equal weight” rating and a $62.00 price objective for the company. StockNews.com cut shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a report on Friday. Oppenheimer boosted their price target on Allison Transmission from $67.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Finally, The Goldman Sachs Group boosted their target price on Allison Transmission from $55.00 to $63.00 and gave the stock a “sell” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Allison Transmission has a consensus rating of “Hold” and an average target price of $71.71.

Insider Activity at Allison Transmission

In other Allison Transmission news, VP Ryan A. Milburn sold 2,598 shares of Allison Transmission stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $75.40, for a total transaction of $195,889.20. Following the sale, the vice president now directly owns 14,456 shares in the company, valued at approximately $1,089,982.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Dana Jh Pittard sold 2,686 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $72.84, for a total value of $195,648.24. Following the sale, the vice president now owns 5,143 shares of the company’s stock, valued at approximately $374,616.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Ryan A. Milburn sold 2,598 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $75.40, for a total transaction of $195,889.20. Following the completion of the transaction, the vice president now owns 14,456 shares of the company’s stock, valued at approximately $1,089,982.40. The disclosure for this sale can be found here. In the last three months, insiders sold 87,843 shares of company stock valued at $6,244,562. Corporate insiders own 0.93% of the company’s stock.

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.