Norges Bank Makes New $115.67 Million Investment in Allison Transmission Holdings, Inc. $ALSN

Norges Bank bought a new stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,181,548 shares of the auto parts company’s stock, valued at approximately $115,674,000. Norges Bank owned 1.42% of Allison Transmission at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ALSN. Caprock Group LLC raised its stake in Allison Transmission by 191.5% in the 4th quarter. Caprock Group LLC now owns 26,051 shares of the auto parts company’s stock valued at $2,550,000 after acquiring an additional 17,114 shares during the period. SG Americas Securities LLC lifted its holdings in Allison Transmission by 109.9% during the fourth quarter. SG Americas Securities LLC now owns 17,014 shares of the auto parts company’s stock valued at $1,666,000 after purchasing an additional 8,910 shares during the last quarter. Alps Advisors Inc. bought a new position in Allison Transmission during the third quarter worth about $14,175,000. JPMorgan Chase & Co. increased its stake in shares of Allison Transmission by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 377,739 shares of the auto parts company’s stock worth $32,063,000 after purchasing an additional 23,025 shares in the last quarter. Finally, UBS Group AG increased its stake in shares of Allison Transmission by 30.4% in the fourth quarter. UBS Group AG now owns 1,252,197 shares of the auto parts company’s stock worth $122,590,000 after purchasing an additional 291,649 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Scott A. Mell sold 2,270 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.00, for a total value of $283,750.00. Following the sale, the chief financial officer owned 1,053 shares in the company, valued at approximately $131,625. This trade represents a 68.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric C. Scroggins sold 1,313 shares of Allison Transmission stock in a transaction on Monday, March 9th. The shares were sold at an average price of $114.40, for a total value 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. This represents a 6.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Allison Transmission from $117.00 to $126.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th. Wells Fargo & Company lifted their price objective on shares of Allison Transmission from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Citigroup boosted their target price on shares of Allison Transmission from $130.00 to $135.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Oppenheimer increased their target price on Allison Transmission from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings lowered Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Allison Transmission has an average rating of “Hold” and an average price target of $120.29.

Allison Transmission Trading Down 0.5%

Shares of Allison Transmission stock opened at $118.41 on Friday. Allison Transmission Holdings, Inc. has a 12-month low of $76.01 and a 12-month high of $137.62. The company 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 current ratio of 1.85, a quick ratio of 1.18 and a debt-to-equity ratio of 2.23. The company’s 50-day moving average price is $121.35 and its 200-day moving average price is $111.46.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings data on Monday, May 4th. The auto parts company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.10 by $0.47. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Allison Transmission had a net margin of 14.88% and a return on equity of 37.50%. 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 earned $2.23 earnings per share. On average, equities analysts expect that Allison Transmission Holdings, Inc. will post 9.96 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Allison Transmission’s dividend payout ratio (DPR) is presently 18.04%.

About Allison Transmission

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.