Norges Bank bought a new stake in Allison Transmission Holdings, Inc. (NYSE:ALSN – Free Report) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,181,548 shares of the auto parts company’s stock, valued at approximately $115,674,000.
Other hedge funds have also bought and sold shares of the company. Jane Street Group LLC grew its stake in Allison Transmission by 341.3% in the 1st quarter. Jane Street Group LLC now owns 288,674 shares of the auto parts company’s stock worth $27,617,000 after buying an additional 223,253 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Allison Transmission by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 214,907 shares of the auto parts company’s stock valued at $20,560,000 after buying an additional 11,542 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Allison Transmission by 9.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,892 shares of the auto parts company’s stock worth $180,000 after acquiring an additional 165 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Allison Transmission by 441.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,018 shares of the auto parts company’s stock worth $97,000 after acquiring an additional 830 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Allison Transmission in the second quarter worth $6,111,000. 96.90% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ALSN has been the topic of a number of research reports. Oppenheimer raised their price target on Allison Transmission from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Morgan Stanley upped their price objective on Allison Transmission from $117.00 to $126.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 13th. Citigroup increased their price objective on Allison Transmission from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Wells Fargo & Company raised their price objective on Allison Transmission from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Zacks Research downgraded Allison Transmission from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $120.29.
Allison Transmission Stock Performance
NYSE ALSN opened at $118.41 on Friday. The company has a 50-day simple moving average of $121.35 and a two-hundred day simple moving average of $111.46. Allison Transmission Holdings, Inc. has a 12-month low of $76.01 and a 12-month high of $137.62. The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 0.64 and a beta of 0.94. The company has a quick ratio of 1.18, a current ratio of 1.85 and a debt-to-equity ratio of 2.23.
Allison Transmission (NYSE:ALSN – Get Free Report) last released its earnings results on Monday, May 4th. The auto parts company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.47. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. Allison Transmission had a return on equity of 37.50% and a net margin of 14.88%.Allison Transmission’s revenue for the quarter was up 83.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.23 EPS. On average, equities analysts forecast that Allison Transmission Holdings, Inc. will post 9.96 EPS for the current year.
Allison Transmission Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Allison Transmission’s dividend payout ratio is 18.04%.
Insider Activity at Allison Transmission
In related news, CFO Scott A. Mell sold 2,270 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.00, for a total transaction of $283,750.00. Following the completion of the sale, the chief financial officer directly owned 1,053 shares in the company, valued at $131,625. This represents a 68.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Eric C. Scroggins sold 1,313 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $114.40, for a total transaction of $150,207.20. Following the sale, the insider directly owned 17,654 shares of the company’s stock, valued at $2,019,617.60. The trade was a 6.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.
Allison Transmission Profile
Allison Transmission Holdings Inc is a global designer, manufacturer and seller of fully automatic transmissions and hybrid propulsion systems for commercial duty vehicles and off-highway equipment. The company’s products are engineered to improve fuel efficiency, reduce emissions and enhance performance across a broad range of industries. Allison’s core transmission portfolio serves applications such as on-highway trucks and buses, medium- and heavy-duty commercial vehicles, and military ground vehicles.
In addition to conventional automatic transmissions, Allison offers advanced hybrid systems that integrate electric motors with mechanical transmission components.
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