Eric Scroggins Sells 1,313 Shares of Allison Transmission (NYSE:ALSN) Stock

Key Points

• Insider sale: Eric Scroggins sold 1,313 shares of Allison Transmission on March 9 at an average price of $114.40, raising about $150,207 and reducing his stake by 6.92% to 17,654 shares, as disclosed in an SEC filing.
• Dividend increase: Allison raised its quarterly dividend to $0.29 per share (from $0.27), payable March 20 with an ex-dividend/record date of March 9, implying a $1.16 annual payout and a 1.0% yield.
• Mixed analyst views: Analysts have varied opinions—Oppenheimer raised its target to $135 (outperform) while others range from hold to strong-buy, leaving an average MarketBeat rating of Hold and an average price target of $111.11.

Allison Transmission Holdings, Inc. (NYSE:ALSN - Get Free Report) insider Eric Scroggins sold 1,313 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $114.40, for a total value of $150,207.20. Following the transaction, the insider owned 17,654 shares of the company's stock, valued at $2,019,617.60. The trade was a 6.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Allison Transmission Trading Down 2.0%

NYSE ALSN traded down $2.30 during trading on Tuesday, reaching $114.57. 756,516 shares of the stock traded hands, compared to its average volume of 910,202. Allison Transmission Holdings, Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $128.85. The company has a quick ratio of 4.17, a current ratio of 4.85 and a debt-to-equity ratio of 1.55. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 0.77 and a beta of 0.96. The stock's 50-day moving average price is $112.52 and its 200 day moving average price is $96.42.

Allison Transmission Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, March 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Allison Transmission's previous quarterly dividend of $0.27. Allison Transmission's dividend payout ratio (DPR) is currently 14.73%.

Wall Street Analyst Weigh In

Several research analysts recently commented on ALSN shares. Oppenheimer increased their price target on Allison Transmission from $115.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. upped their price objective on Allison Transmission from $87.00 to $115.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 14th. 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 boosted their target price on shares of Allison Transmission from $98.00 to $127.00 and gave the stock an "equal weight" rating in a report on Thursday, February 26th. Finally, Raymond James Financial upped their price target on shares of Allison Transmission from $110.00 to $115.00 and gave the stock a "strong-buy" rating in a research report on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Allison Transmission presently has an average rating of "Hold" and an average price target of $111.11.

Institutional Trading of Allison Transmission

Hedge funds have recently made changes to their positions in the business. Rossby Financial LCC raised its position in shares of Allison Transmission by 107.0% in the third quarter. Rossby Financial LCC now owns 296 shares of the auto parts company's stock valued at $25,000 after purchasing an additional 153 shares during the period. Larson Financial Group LLC increased its position in Allison Transmission by 536.7% during the 4th quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company's stock worth $31,000 after buying an additional 263 shares during the period. Transamerica Financial Advisors LLC increased its position in Allison Transmission by 2,112.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company's stock worth $35,000 after buying an additional 338 shares during the period. Employees Retirement System of Texas acquired a new stake in shares of Allison Transmission during the second quarter worth $38,000. Finally, True Wealth Design LLC lifted its holdings in shares of Allison Transmission by 93.2% during the third quarter. True Wealth Design LLC now owns 452 shares of the auto parts company's stock worth $38,000 after buying an additional 218 shares in the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

Allison Transmission Company Profile

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.

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