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% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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’s holdings in Allison Transmission were worth $237,234,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Millstone Evans Group LLC purchased a new stake in shares of Allison Transmission in the 1st quarter worth about $26,000. Cedar Mountain Advisors LLC bought a new stake in shares of Allison Transmission during the 1st quarter valued at about $27,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Allison Transmission during the first quarter valued at about $28,000. Larson Financial Group LLC increased its position in shares of Allison Transmission by 536.7% during the fourth quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company’s stock valued at $31,000 after buying an additional 263 shares during the period. Finally, Transamerica Financial Advisors LLC raised 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 worth $35,000 after buying an additional 338 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors.

Insider Activity at Allison Transmission

In other news, CFO Scott A. Mell sold 2,270 shares of the business’s 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 completion of the transaction, the chief financial officer owned 1,053 shares in the company, valued at $131,625. The trade was a 68.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Allison Transmission Trading Up 2.2%

NYSE:ALSN opened at $118.79 on Thursday. The company’s 50 day moving average price is $115.73 and its 200-day moving average price is $117.02. Allison Transmission Holdings, Inc. has a 52 week low of $76.01 and a 52 week 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 stock has a market cap of $9.85 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 0.62 and a beta of 0.95.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Monday, May 4th. The auto parts company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.47. Allison Transmission had a net margin of 14.88% and a return on equity of 37.50%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm earned $2.23 earnings per share. The firm’s quarterly revenue was up 83.6% compared to the same quarter last year. On average, equities research analysts forecast that Allison Transmission Holdings, Inc. will post 9.91 earnings per share for the current fiscal year.

Allison Transmission Announces Dividend

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

Allison Transmission Profile

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.