First Trust Advisors LP Buys 932,201 Shares of Allison Transmission Holdings, Inc. $ALSN

First Trust Advisors LP raised its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 85.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,026,603 shares of the auto parts company’s stock after purchasing an additional 932,201 shares during the quarter. First Trust Advisors LP owned 2.44% of Allison Transmission worth $237,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millstone Evans Group LLC purchased a new stake in shares of Allison Transmission during the 1st quarter valued at $26,000. Cedar Mountain Advisors LLC bought a new stake in shares of Allison Transmission during the 1st quarter worth $27,000. Cassaday & Co Wealth Management LLC purchased a new position in Allison Transmission in the first quarter worth $28,000. Larson Financial Group LLC grew its position in Allison Transmission by 536.7% in the fourth quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 263 shares in the last quarter. Finally, Transamerica Financial Advisors LLC increased its stake in Allison Transmission by 2,112.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company’s stock valued at $35,000 after acquiring an additional 338 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALSN. Citigroup dropped their price target on Allison Transmission from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings lowered Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. raised their price objective on Allison Transmission from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Wells Fargo & Company boosted their target price on Allison Transmission from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley upped their target price on Allison Transmission from $126.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $131.17.

Insider Transactions at Allison Transmission

In other Allison Transmission news, CFO Scott A. Mell sold 2,270 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.00, for a total transaction of $283,750.00. Following the completion of the transaction, the chief financial officer owned 1,053 shares of the company’s stock, valued at $131,625. This represents a 68.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Allison Transmission Price Performance

Shares of Allison Transmission stock opened at $118.79 on Thursday. The firm has a market cap of $9.85 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. Allison Transmission Holdings, Inc. has a 12-month low of $76.01 and a 12-month high of $137.62. The company has a quick ratio of 1.18, a current ratio of 1.85 and a debt-to-equity ratio of 2.23. The company’s fifty day simple moving average is $115.73 and its two-hundred day simple moving average is $117.02.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Monday, May 4th. The auto parts company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.47. The firm had revenue of $1.41 billion for 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%. The company’s revenue for the quarter was up 83.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.23 earnings per share. As a group, equities analysts expect that Allison Transmission Holdings, Inc. will post 9.91 EPS for the current year.

Allison Transmission Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, May 18th. Allison Transmission’s payout ratio is currently 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.