1,007,924 Shares in Allison Transmission Holdings, Inc. (NYSE:ALSN) Acquired by Norges Bank

Norges Bank bought a new stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,007,924 shares of the auto parts company’s stock, valued at approximately $108,916,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smith Group Asset Management LLC bought a new stake in Allison Transmission during the 4th quarter worth approximately $2,161,000. Allspring Global Investments Holdings LLC raised its position in shares of Allison Transmission by 18.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company’s stock worth $31,643,000 after buying an additional 46,435 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Allison Transmission by 14.5% during the fourth quarter. Teacher Retirement System of Texas now owns 53,014 shares of the auto parts company’s stock valued at $5,729,000 after buying an additional 6,728 shares during the period. Convergence Investment Partners LLC grew its position in Allison Transmission by 115.6% during the fourth quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company’s stock worth $1,507,000 after buying an additional 7,479 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Allison Transmission by 46.8% in the 3rd quarter. Franklin Resources Inc. now owns 250,050 shares of the auto parts company’s stock worth $24,955,000 after acquiring an additional 79,745 shares during the last quarter. Institutional investors own 96.90% of the company’s stock.

Insider Transactions at Allison Transmission

In related news, VP Ryan A. Milburn sold 4,546 shares of Allison Transmission stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $96.20, for a total value of $437,325.20. Following the sale, the vice president now owns 14,138 shares in the company, valued at $1,360,075.60. The trade was a 24.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 12th. Citigroup cut their price target on shares of Allison Transmission from $115.00 to $108.00 and set a “neutral” rating for the company in a research note on Monday. Morgan Stanley raised their price objective on shares of Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. StockNews.com lowered shares of Allison Transmission from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. lowered their price target on Allison Transmission from $129.00 to $110.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.13.

Allison Transmission Stock Performance

Allison Transmission stock opened at $97.27 on Wednesday. The firm has a fifty day simple moving average of $104.23 and a two-hundred day simple moving average of $106.59. Allison Transmission Holdings, Inc. has a twelve month low of $71.49 and a twelve month high of $122.53. The company has a market capitalization of $8.32 billion, a PE ratio of 11.71 and a beta of 1.02. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45.

Allison Transmission (NYSE:ALSN) last released its earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. Research analysts expect that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire up to 57.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Allison Transmission Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.11%. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 3rd. Allison Transmission’s dividend payout ratio is 13.00%.

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.