Victory Capital Management Inc. Buys 10,723 Shares of Allison Transmission Holdings, Inc. $ALSN

Victory Capital Management Inc. boosted its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 8.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 141,118 shares of the auto parts company’s stock after purchasing an additional 10,723 shares during the quarter. Victory Capital Management Inc.’s holdings in Allison Transmission were worth $11,978,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Norges Bank purchased a new position in Allison Transmission in the 2nd quarter worth approximately $100,347,000. Qube Research & Technologies Ltd raised its position in shares of Allison Transmission by 128.2% during the second quarter. Qube Research & Technologies Ltd now owns 1,215,897 shares of the auto parts company’s stock valued at $115,498,000 after buying an additional 683,035 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Allison Transmission by 35.7% during the second quarter. Federated Hermes Inc. now owns 1,544,799 shares of the auto parts company’s stock valued at $146,740,000 after buying an additional 406,540 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Allison Transmission by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,915,887 shares of the auto parts company’s stock worth $181,741,000 after buying an additional 304,974 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Allison Transmission by 341.3% during the first quarter. Jane Street Group LLC now owns 288,674 shares of the auto parts company’s stock worth $27,617,000 after acquiring an additional 223,253 shares during the last quarter. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALSN has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Allison Transmission from $87.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Zacks Research upgraded Allison Transmission from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Wells Fargo & Company boosted their target price on Allison Transmission from $98.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 26th. Weiss Ratings lowered Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 25th. Finally, Morgan Stanley lifted their price objective on Allison Transmission from $97.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $111.11.

Insiders Place Their Bets

In other news, insider Eric C. Scroggins sold 1,313 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $114.40, for a total transaction of $150,207.20. Following the transaction, the insider owned 17,654 shares of the company’s stock, valued at approximately $2,019,617.60. This represents a 6.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John Coll sold 1,791 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $98.79, for a total value of $176,932.89. Following the sale, the senior vice president directly owned 10,021 shares of the company’s stock, valued at $989,974.59. This represents a 15.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Allison Transmission Stock Performance

Allison Transmission stock opened at $113.24 on Thursday. The company’s 50-day moving average price is $113.13 and its 200-day moving average price is $96.71. The company has a quick ratio of 4.17, a current ratio of 4.85 and a debt-to-equity ratio of 1.55. The company has a market cap of $9.38 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 0.75 and a beta of 0.96. Allison Transmission Holdings, Inc. has a twelve month low of $76.01 and a twelve month high of $128.85.

Allison Transmission Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Monday, March 9th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, March 9th. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.27. Allison Transmission’s dividend payout ratio is 15.83%.

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.