Allison Transmission Holdings Inc (NYSE:ALSN) announced a quarterly dividend on Friday, May 10th, Wall Street Journal reports. Stockholders of record on Monday, May 20th will be given a dividend of 0.15 per share by the auto parts company on Friday, May 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, May 17th.
Allison Transmission has raised its dividend payment by an average of 10.1% annually over the last three years. Allison Transmission has a payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Allison Transmission to earn $4.50 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 13.3%.
NYSE ALSN opened at $45.90 on Friday. Allison Transmission has a 1-year low of $39.41 and a 1-year high of $53.76. The company has a debt-to-equity ratio of 3.37, a current ratio of 1.89 and a quick ratio of 1.49. The stock has a market capitalization of $5.65 billion, a PE ratio of 8.99, a P/E/G ratio of 0.97 and a beta of 1.36.
Allison Transmission (NYSE:ALSN) last released its earnings results on Tuesday, April 23rd. The auto parts company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.20. Allison Transmission had a return on equity of 97.36% and a net margin of 24.04%. The company had revenue of $675.00 million during the quarter, compared to analyst estimates of $658.01 million. During the same quarter in the previous year, the company posted $1.08 EPS. Allison Transmission’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts forecast that Allison Transmission will post 4.66 earnings per share for the current year.
A number of research firms have recently weighed in on ALSN. Mizuho reissued a “hold” rating and issued a $53.00 target price on shares of Allison Transmission in a research note on Tuesday, February 26th. Zacks Investment Research lowered Allison Transmission from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine lowered Allison Transmission from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Credit Suisse Group boosted their target price on Allison Transmission from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, February 27th. Finally, Piper Jaffray Companies set a $28.00 target price on Allison Transmission and gave the company a “sell” rating in a research note on Monday, January 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $48.78.
In other Allison Transmission news, Director William R. Harker sold 4,977,043 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $46.70, for a total transaction of $232,427,908.10. Following the completion of the transaction, the director now owns 10,318 shares of the company’s stock, valued at approximately $481,850.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Harker sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $47.08, for a total value of $3,531,000.00. The disclosure for this sale can be found here. Corporate insiders own 9.00% of the company’s stock.
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About Allison Transmission
Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers 12 transmission product lines for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school, transit, and hybrid-transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.
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