KLP Kapitalforvaltning AS Makes New $2.77 Million Investment in Allison Transmission Holdings, Inc. (NYSE:ALSN)

KLP Kapitalforvaltning AS acquired a new stake in Allison Transmission Holdings, Inc. (NYSE:ALSN) during the 4th quarter, Holdings Channel.com reports. The firm acquired 25,600 shares of the auto parts company’s stock, valued at approximately $2,766,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALSN. Smith Group Asset Management LLC purchased a new position in Allison Transmission in the 4th quarter valued at about $2,161,000. Allspring Global Investments Holdings LLC boosted its position in Allison Transmission by 18.8% during 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 acquiring an additional 46,435 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Allison Transmission by 14.5% in the 4th quarter. Teacher Retirement System of Texas now owns 53,014 shares of the auto parts company’s stock valued at $5,729,000 after acquiring an additional 6,728 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in shares of Allison Transmission by 4.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 97,150 shares of the auto parts company’s stock worth $9,333,000 after purchasing an additional 4,261 shares during the period. Finally, Convergence Investment Partners LLC boosted its holdings in shares of 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 purchasing an additional 7,479 shares during the last quarter. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALSN has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on Allison Transmission from $129.00 to $110.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. The Goldman Sachs Group lifted their target price on Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 12th. Morgan Stanley increased their target price on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Citigroup reduced their price target on shares of Allison Transmission from $120.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, StockNews.com lowered shares of Allison Transmission from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $102.00.

Insider Buying and Selling

In related news, VP Ryan A. Milburn sold 4,546 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was 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 of the company’s stock, valued at approximately $1,360,075.60. This trade represents a 24.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John Coll sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $108.40, for a total value of $216,800.00. Following the transaction, the senior vice president now owns 6,420 shares of the company’s stock, valued at $695,928. This represents a 23.75 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Allison Transmission Trading Down 0.8 %

NYSE ALSN opened at $99.25 on Thursday. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 11.94 and a beta of 1.02. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42. Allison Transmission Holdings, Inc. has a 12 month low of $71.49 and a 12 month high of $122.53. The company’s fifty day moving average price is $106.00 and its two-hundred day moving average price is $106.16.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings results on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. As a group, research analysts predict that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.27 per share. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Monday, March 3rd. Allison Transmission’s dividend payout ratio is currently 13.00%.

Allison Transmission announced that its board has authorized a share buyback program on Thursday, February 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the auto parts company to buy up to 57.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Allison Transmission 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.