First Trust Advisors LP Purchases 1,474 Shares of Allison Transmission Holdings Inc (ALSN)
First Trust Advisors LP boosted its position in Allison Transmission Holdings Inc (NYSE:ALSN) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,528 shares of the auto parts company’s stock after purchasing an additional 1,474 shares during the quarter. First Trust Advisors LP’s holdings in Allison Transmission were worth $3,296,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALSN. The Manufacturers Life Insurance Company lifted its position in shares of Allison Transmission by 12.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,349 shares of the auto parts company’s stock valued at $201,000 after acquiring an additional 607 shares during the period. American Century Companies Inc. lifted its position in shares of Allison Transmission by 1,430.1% during the 3rd quarter. American Century Companies Inc. now owns 268,707 shares of the auto parts company’s stock valued at $10,085,000 after acquiring an additional 251,146 shares during the period. Jennison Associates LLC lifted its position in shares of Allison Transmission by 3.8% during the 3rd quarter. Jennison Associates LLC now owns 1,788,436 shares of the auto parts company’s stock valued at $67,120,000 after acquiring an additional 65,743 shares during the period. Alps Advisors Inc. bought a new stake in shares of Allison Transmission during the 3rd quarter valued at $510,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Allison Transmission by 97.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 115,702 shares of the auto parts company’s stock valued at $4,342,000 after acquiring an additional 57,148 shares during the period.
In other Allison Transmission news, Director James A. Star sold 135,460 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $44.50, for a total value of $6,027,970.00. Following the completion of the transaction, the director now owns 41,450 shares of the company’s stock, valued at approximately $1,844,525. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James A. Star sold 322,130 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $44.49, for a total value of $14,331,563.70. Following the completion of the transaction, the director now directly owns 41,450 shares of the company’s stock, valued at approximately $1,844,110.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,399,429 shares of company stock valued at $149,485,666 in the last three months. 7.90% of the stock is owned by insiders.
Allison Transmission (NYSE:ALSN) last posted its quarterly earnings results on Wednesday, February 14th. The auto parts company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.89. Allison Transmission had a return on equity of 60.52% and a net margin of 22.28%. The company had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $576.57 million. During the same quarter in the previous year, the firm earned $0.36 EPS. Allison Transmission’s revenue was up 25.4% on a year-over-year basis. research analysts expect that Allison Transmission Holdings Inc will post 3.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. Allison Transmission’s dividend payout ratio (DPR) is currently 17.60%.
A number of analysts have recently weighed in on the company. Zacks Investment Research downgraded Allison Transmission from a “buy” rating to a “hold” rating in a research report on Monday, February 19th. ValuEngine downgraded Allison Transmission from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 7th. Piper Jaffray Companies set a $26.00 target price on Allison Transmission and gave the company a “sell” rating in a research report on Friday, November 17th. Bank of America downgraded Allison Transmission from a “buy” rating to a “neutral” rating and cut their target price for the company from $52.00 to $48.00 in a research report on Thursday, February 8th. Finally, Royal Bank of Canada downgraded Allison Transmission from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $46.00 to $50.00 in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.82.
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About Allison Transmission
Allison Transmission Holdings, Inc and its subsidiaries design and manufacture commercial and defense fully-automatic transmissions. The Company manufactures fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium-and heavy-tactical United States defense vehicles. The Company’s transmissions are used in a range of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (primarily school, transit and hybrid-transit), motorhomes, off-highway vehicles and equipment (energy, mining and construction) and defense vehicles (wheeled and tracked).
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