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

Key Points

• First Trust Advisors LP boosted its stake in Allison Transmission by 5.9% in Q3, adding 60,391 shares to hold 1,089,572 shares (about 1.31%) valued at roughly $92.48 million.
• Allison Transmission raised its quarterly dividend to $0.29 (from $0.27), payable March 20, for a $1.16 annualized payment and ~1.0% yield (ex-dividend March 9) with a 14.73% payout ratio.
• The stock trades in a one-year range of $76.01–$128.85, has a market cap of $9.68 billion and a P/E of 15.96, and carries an average analyst rating of "Hold" with a $111.11 average target price.

First Trust Advisors LP boosted its stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,089,572 shares of the auto parts company's stock after acquiring an additional 60,391 shares during the quarter. First Trust Advisors LP owned 1.31% of Allison Transmission worth $92,483,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALSN. HUB Investment Partners LLC bought a new stake in shares of Allison Transmission in the 3rd quarter worth about $210,000. Gabelli Funds LLC lifted its holdings in Allison Transmission by 16.6% during the 3rd quarter. Gabelli Funds LLC now owns 25,264 shares of the auto parts company's stock valued at $2,144,000 after purchasing an additional 3,590 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Allison Transmission by 11.8% in the third quarter. Gamco Investors INC. ET AL now owns 6,457 shares of the auto parts company's stock valued at $548,000 after buying an additional 679 shares in the last quarter. Barclays PLC boosted its position in Allison Transmission by 69.3% in the third quarter. Barclays PLC now owns 157,793 shares of the auto parts company's stock valued at $13,393,000 after buying an additional 64,597 shares in the last quarter. Finally, Islay Capital Management LLC grew its stake in Allison Transmission by 82.5% during the third quarter. Islay Capital Management LLC now owns 19,989 shares of the auto parts company's stock worth $1,697,000 after buying an additional 9,036 shares during the last quarter. 96.90% of the stock is owned by institutional investors.

Allison Transmission Price Performance

Shares of ALSN stock opened at $116.95 on Tuesday. Allison Transmission Holdings, Inc. has a 1 year low of $76.01 and a 1 year high of $128.85. The company has a current ratio of 4.85, a quick ratio of 4.17 and a debt-to-equity ratio of 1.55. The firm's 50 day moving average is $112.52 and its 200-day moving average is $96.42. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 0.77 and a beta of 0.96.

Allison Transmission Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Monday, March 9th will be given a $0.29 dividend. This is a boost from Allison Transmission's previous quarterly dividend of $0.27. The ex-dividend date is Monday, March 9th. This represents a $1.16 annualized dividend and a yield of 1.0%. Allison Transmission's dividend payout ratio is presently 14.73%.

Insider Buying and Selling

In other Allison Transmission news, SVP John Coll sold 1,791 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 10,021 shares in the company, valued at approximately $989,974.59. This trade represents a 15.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Allison Transmission from $110.00 to $130.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. Raymond James Financial increased their price target on Allison Transmission from $110.00 to $115.00 and gave the stock a "strong-buy" rating in a research report on Monday, December 22nd. Morgan Stanley raised their price target on Allison Transmission from $97.00 to $109.00 and gave the company an "equal weight" rating in a report on Friday, January 23rd. Wells Fargo & Company lifted their price objective on Allison Transmission from $98.00 to $127.00 and gave the company an "equal weight" rating in a research report on Thursday, February 26th. Finally, Weiss Ratings cut Allison Transmission from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $111.11.

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.

Want to see what other hedge funds are holding ALSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.