Allison Transmission Holdings, Inc. (NYSE:ALSN) Sees Large Decline in Short Interest

Allison Transmission Holdings, Inc. (NYSE:ALSN) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 1,410,000 shares, a drop of 6.0% from the May 31st total of 1,500,000 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 597,900 shares, the days-to-cover ratio is presently 2.4 days.

Allison Transmission Trading Up 1.4 %

ALSN traded up $1.03 during trading on Wednesday, reaching $76.03. 30,156 shares of the stock traded hands, compared to its average volume of 641,345. The stock’s 50-day moving average is $75.08 and its 200 day moving average is $71.07. Allison Transmission has a 12 month low of $50.13 and a 12 month high of $83.42. The company has a quick ratio of 1.95, a current ratio of 2.51 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $6.65 billion, a PE ratio of 10.01, a P/E/G ratio of 1.41 and a beta of 1.00.

Allison Transmission (NYSE:ALSN) last announced its earnings results on Thursday, April 25th. The auto parts company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.89 by $0.01. The company had revenue of $789.00 million for the quarter, compared to analyst estimates of $772.37 million. Allison Transmission had a return on equity of 55.83% and a net margin of 21.80%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.85 EPS. Equities analysts anticipate that Allison Transmission will post 7.56 earnings per share for the current year.

Allison Transmission Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. Allison Transmission’s payout ratio is presently 13.35%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ALSN shares. Citigroup assumed coverage on Allison Transmission in a report on Wednesday, June 26th. They set a “neutral” rating and a $80.00 price target on the stock. StockNews.com upgraded shares of Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 7th. The Goldman Sachs Group raised their price target on shares of Allison Transmission from $55.00 to $63.00 and gave the company a “sell” rating in a research note on Tuesday, April 16th. Robert W. Baird boosted their price objective on shares of Allison Transmission from $84.00 to $87.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Finally, Raymond James initiated coverage on Allison Transmission in a research report on Friday, June 28th. They set an “outperform” rating and a $85.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.25.

Insider Activity at Allison Transmission

In other Allison Transmission news, VP Rafael Basso sold 12,624 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $74.48, for a total transaction of $940,235.52. Following the completion of the transaction, the vice president now owns 4,624 shares of the company’s stock, valued at $344,395.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $75.06, for a total transaction of $150,120.00. Following the sale, the senior vice president now owns 14,420 shares of the company’s stock, valued at approximately $1,082,365.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Rafael Basso sold 12,624 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $74.48, for a total value of $940,235.52. Following the sale, the vice president now owns 4,624 shares in the company, valued at approximately $344,395.52. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Allison Transmission during the fourth quarter valued at about $56,334,000. Vision One Management Partners LP acquired a new position in Allison Transmission during the 4th quarter worth approximately $17,848,000. Prevatt Capital Ltd bought a new position in Allison Transmission in the fourth quarter worth approximately $14,538,000. Allspring Global Investments Holdings LLC grew its stake in Allison Transmission by 108.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 259,311 shares of the auto parts company’s stock valued at $21,046,000 after acquiring an additional 135,194 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Allison Transmission by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,863,151 shares of the auto parts company’s stock valued at $108,345,000 after acquiring an additional 118,648 shares in the last quarter. 96.90% of the stock is owned by institutional investors.

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.