Bank of Nova Scotia Has $333,000 Stock Position in Allison Transmission Holdings, Inc. (NYSE:ALSN)

Bank of Nova Scotia lessened its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 10.2% during the 4th quarter, HoldingsChannel reports. The fund owned 3,085 shares of the auto parts company’s stock after selling 352 shares during the quarter. Bank of Nova Scotia’s holdings in Allison Transmission were worth $333,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ALSN. FMR LLC boosted its stake in shares of Allison Transmission by 1.9% in the 4th quarter. FMR LLC now owns 12,993,015 shares of the auto parts company’s stock valued at $1,404,025,000 after purchasing an additional 247,318 shares during the last quarter. Federated Hermes Inc. boosted its stake in Allison Transmission by 3.9% in the fourth quarter. Federated Hermes Inc. now owns 956,691 shares of the auto parts company’s stock valued at $103,380,000 after acquiring an additional 36,065 shares during the last quarter. Islay Capital Management LLC grew its holdings in Allison Transmission by 9.3% during the 4th quarter. Islay Capital Management LLC now owns 10,813 shares of the auto parts company’s stock worth $1,168,000 after acquiring an additional 922 shares during the period. Wells Fargo & Company MN raised its position in shares of Allison Transmission by 13.3% during the 4th quarter. Wells Fargo & Company MN now owns 227,851 shares of the auto parts company’s stock valued at $24,622,000 after acquiring an additional 26,755 shares during the last quarter. Finally, Prudential PLC lifted its stake in shares of Allison Transmission by 271.8% in the 4th quarter. Prudential PLC now owns 20,905 shares of the auto parts company’s stock valued at $2,259,000 after purchasing an additional 15,283 shares during the period. Institutional investors own 96.90% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Raymond James decreased their price objective on Allison Transmission from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Monday. Robert W. Baird cut their price target on shares of Allison Transmission from $123.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday. StockNews.com upgraded shares of Allison Transmission from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Morgan Stanley increased their target price on shares of Allison Transmission from $110.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Allison Transmission from $110.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $100.13.

Allison Transmission Stock Down 0.5 %

Shares of ALSN stock opened at $88.93 on Wednesday. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 10.70 and a beta of 0.95. Allison Transmission Holdings, Inc. has a 12-month low of $71.49 and a 12-month high of $122.53. The firm has a fifty day moving average of $97.54 and a 200-day moving average of $106.15. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45.

Allison Transmission (NYSE:ALSN) last posted its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.11. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. As a group, equities research analysts predict that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission announced that its Board of Directors has approved a share repurchase plan on Thursday, February 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the auto parts company to buy up to 57.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Allison Transmission Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.27 per share. This is a boost from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Monday, March 3rd. Allison Transmission’s dividend payout ratio (DPR) is currently 13.00%.

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.