First Trust Advisors LP Sells 121,578 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

First Trust Advisors LP lowered its position in Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 26.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 330,259 shares of the auto parts company's stock after selling 121,578 shares during the quarter. First Trust Advisors LP owned approximately 0.38% of Allison Transmission worth $35,688,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EAM Investors LLC purchased a new position in Allison Transmission during the fourth quarter worth $5,766,000. Smith Group Asset Management LLC purchased a new stake in shares of Allison Transmission during the 4th quarter worth about $2,161,000. Allspring Global Investments Holdings LLC increased its position in Allison Transmission by 18.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company's stock worth $31,643,000 after purchasing an additional 46,435 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Allison Transmission by 14.5% in the fourth quarter. Teacher Retirement System of Texas now owns 53,014 shares of the auto parts company's stock worth $5,729,000 after acquiring an additional 6,728 shares in the last quarter. Finally, Convergence Investment Partners LLC raised its stake in shares of Allison Transmission by 115.6% in the 4th quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company's stock valued at $1,507,000 after acquiring an additional 7,479 shares during the period. Institutional investors and hedge funds own 96.90% of the company's stock.

Insider Buying and Selling

In other news, SVP John Coll sold 1,788 shares of Allison Transmission stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total value of $170,450.04. Following the transaction, the senior vice president now owns 15,388 shares in the company, valued at approximately $1,466,938.04. This trade represents a 10.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Ryan A. Milburn sold 4,546 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $96.20, for a total value of $437,325.20. Following the transaction, the vice president now directly owns 14,138 shares of the company's stock, valued at approximately $1,360,075.60. The trade was a 24.33 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Allison Transmission Price Performance

NYSE:ALSN traded up $0.36 during mid-day trading on Monday, hitting $92.15. The company's stock had a trading volume of 795,840 shares, compared to its average volume of 638,878. Allison Transmission Holdings, Inc. has a fifty-two week low of $71.49 and a fifty-two week high of $122.53. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 1.45. The stock has a fifty day moving average of $94.62 and a 200-day moving average of $105.72. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 11.09 and a beta of 0.95.

Allison Transmission (NYSE:ALSN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. As a group, equities analysts forecast that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current fiscal year.

Allison Transmission announced that its board has approved a share repurchase plan on Thursday, February 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to buy up to 57.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Allison Transmission Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.27 dividend. This is a positive change from Allison Transmission's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.08 annualized dividend and a yield of 1.17%. Allison Transmission's dividend payout ratio is presently 13.00%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley dropped their target price on Allison Transmission from $112.00 to $94.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Citigroup lowered their target price on Allison Transmission from $108.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. StockNews.com lowered shares of Allison Transmission from a "buy" rating to a "hold" rating in a research note on Saturday, April 19th. JPMorgan Chase & Co. reduced their price target on Allison Transmission from $110.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Raymond James dropped their price target on shares of Allison Transmission from $115.00 to $110.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $97.88.

Allison Transmission Profile

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.