Allison Transmission Holdings, Inc. (ALSN) Announces $0.15 Quarterly Dividend
Allison Transmission Holdings, Inc. (NYSE:ALSN) announced a quarterly dividend on Thursday, August 10th, NASDAQ reports. Stockholders of record on Monday, August 21st will be paid a dividend of 0.15 per share by the auto parts company on Thursday, August 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, August 17th.
Allison Transmission Holdings has raised its dividend by an average of 12.6% per year over the last three years and has raised its dividend every year for the last 4 years. Allison Transmission Holdings has a dividend payout ratio of 28.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Allison Transmission Holdings to earn $2.28 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 26.3%.
Shares of Allison Transmission Holdings (ALSN) opened at 37.04 on Friday. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 21.03 and a beta of 1.18. The stock has a 50 day moving average price of $37.71 and a 200 day moving average price of $37.00. Allison Transmission Holdings has a one year low of $26.74 and a one year high of $40.25.
Allison Transmission Holdings (NYSE:ALSN) last posted its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.16. Allison Transmission Holdings had a return on equity of 31.27% and a net margin of 14.32%. The business had revenue of $580 million for the quarter, compared to analyst estimates of $515.03 million. During the same period last year, the company earned $0.37 EPS. The firm’s revenue was up 22.1% on a year-over-year basis. On average, equities research analysts forecast that Allison Transmission Holdings will post $2.11 EPS for the current year.
In other Allison Transmission Holdings news, CFO David S. Graziosi sold 50,000 shares of Allison Transmission Holdings stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $38.19, for a total value of $1,909,500.00. Following the sale, the chief financial officer now owns 244,123 shares of the company’s stock, valued at approximately $9,323,057.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Randall R. Kirk sold 7,222 shares of Allison Transmission Holdings stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $38.73, for a total value of $279,708.06. Following the completion of the sale, the senior vice president now directly owns 75,212 shares in the company, valued at approximately $2,912,960.76. The disclosure for this sale can be found here. Insiders sold a total of 132,584 shares of company stock worth $5,126,514 in the last three months. Company insiders own 7.90% of the company’s stock.
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Several research analysts have recently issued reports on the company. BidaskClub upgraded Allison Transmission Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Deutsche Bank AG lifted their target price on Allison Transmission Holdings from $43.00 to $44.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Piper Jaffray Companies set a $30.00 target price on Allison Transmission Holdings and gave the stock a “sell” rating in a report on Thursday, April 27th. Stifel Nicolaus reiterated a “hold” rating and set a $40.00 target price on shares of Allison Transmission Holdings in a report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded Allison Transmission Holdings from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Allison Transmission Holdings has a consensus rating of “Buy” and a consensus target price of $40.56.
Allison Transmission Holdings Company Profile
Allison Transmission Holdings, Inc and its subsidiaries design and manufacture commercial and defense fully-automatic transmissions. The Company manufactures fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium-and heavy-tactical United States defense vehicles. The Company’s transmissions are used in a range of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (primarily school, transit and hybrid-transit), motorhomes, off-highway vehicles and equipment (energy, mining and construction) and defense vehicles (wheeled and tracked).
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