Short Interest in Allison Transmission Holdings, Inc. (NYSE:ALSN) Drops By 6.0%

Allison Transmission Holdings, Inc. (NYSE:ALSN) saw 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. Currently, 1.6% of the company’s stock are sold short. Based on an average trading volume of 597,900 shares, the days-to-cover ratio is currently 2.4 days.

Insider Buying and Selling at Allison Transmission

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

Institutional Trading of Allison Transmission

Hedge funds have recently bought and sold shares of the stock. London Co. of Virginia boosted its holdings in shares of Allison Transmission by 1.1% during the third quarter. London Co. of Virginia now owns 2,414,094 shares of the auto parts company’s stock worth $142,576,000 after acquiring an additional 26,316 shares during the period. Dimensional Fund Advisors LP increased its position in Allison Transmission by 6.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,863,151 shares of the auto parts company’s stock worth $108,345,000 after purchasing an additional 118,648 shares in the last quarter. Norges Bank acquired a new stake in shares of Allison Transmission during the 4th quarter valued at $56,334,000. Allianz Asset Management GmbH grew its holdings in shares of Allison Transmission by 7.7% during the fourth quarter. Allianz Asset Management GmbH now owns 941,405 shares of the auto parts company’s stock worth $54,743,000 after purchasing an additional 67,332 shares during the last quarter. Finally, Wasatch Advisors LP raised its stake in shares of Allison Transmission by 14.6% during the fourth quarter. Wasatch Advisors LP now owns 885,555 shares of the auto parts company’s stock valued at $51,495,000 after acquiring an additional 112,775 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on ALSN. Citigroup assumed coverage on shares of Allison Transmission in a research note on Wednesday, June 26th. They set a “neutral” rating and a $80.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Allison Transmission from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Raymond James assumed coverage on Allison Transmission in a research report on Friday, June 28th. They set an “outperform” rating and a $85.00 price objective for the company. Oppenheimer boosted their target price on Allison Transmission from $67.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Finally, Robert W. Baird increased their price target on Allison Transmission from $84.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $75.25.

Allison Transmission Stock Performance

ALSN stock traded up $0.95 during midday trading on Wednesday, hitting $75.95. The stock had a trading volume of 203,691 shares, compared to its average volume of 642,711. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.41 and a beta of 1.00. The company has a current ratio of 2.51, a quick ratio of 1.95 and a debt-to-equity ratio of 1.79. The stock has a 50-day simple moving average of $75.08 and a 200 day simple moving average of $71.07. Allison Transmission has a 52 week low of $50.13 and a 52 week high of $83.42.

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

Allison Transmission Dividend Announcement

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

Allison Transmission Company Profile

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.