First Trust Advisors LP Purchases 60,391 Shares of Allison Transmission Holdings, Inc. $ALSN

First Trust Advisors LP boosted its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,089,572 shares of the auto parts company’s stock after purchasing an additional 60,391 shares during the quarter. First Trust Advisors LP’s holdings in Allison Transmission were worth $92,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in shares of Allison Transmission by 3.8% in the 2nd quarter. M&T Bank Corp now owns 3,786 shares of the auto parts company’s stock valued at $360,000 after purchasing an additional 138 shares during the last quarter. Westover Capital Advisors LLC raised its stake in shares of Allison Transmission by 3.0% during the second quarter. Westover Capital Advisors LLC now owns 5,166 shares of the auto parts company’s stock worth $491,000 after buying an additional 150 shares during the last quarter. Rossby Financial LCC raised its stake in shares of Allison Transmission by 107.0% during the third quarter. Rossby Financial LCC now owns 296 shares of the auto parts company’s stock worth $25,000 after buying an additional 153 shares during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in Allison Transmission by 0.6% in the third quarter. Johnson Investment Counsel Inc. now owns 28,415 shares of the auto parts company’s stock valued at $2,412,000 after buying an additional 156 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Allison Transmission by 9.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,892 shares of the auto parts company’s stock valued at $180,000 after acquiring an additional 165 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALSN has been the subject of a number of analyst reports. Oppenheimer lifted their target price on shares of Allison Transmission from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. raised their price target on Allison Transmission from $87.00 to $115.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. 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. Citigroup upped their price objective on Allison Transmission from $110.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Finally, Wells Fargo & Company raised their target price on Allison Transmission from $98.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $111.11.

Allison Transmission Trading Up 0.0%

Shares of NYSE ALSN opened at $116.95 on Tuesday. The company’s fifty day moving average is $112.52 and its 200-day moving average is $96.42. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 0.77 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. The company has a quick ratio of 4.17, a current ratio of 4.85 and a debt-to-equity ratio of 1.55.

Allison Transmission Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Monday, March 9th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, March 9th. This is a boost from Allison Transmission’s previous quarterly dividend of $0.27. Allison Transmission’s dividend payout ratio (DPR) is 14.73%.

Insiders Place Their Bets

In other Allison Transmission news, SVP John Coll sold 1,791 shares of Allison Transmission stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $98.79, for a total transaction of $176,932.89. Following the transaction, the senior vice president directly owned 10,021 shares in the company, valued at approximately $989,974.59. The trade was a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

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.