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

Bank of Nova Scotia lessened its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,085 shares of the auto parts company’s stock after selling 352 shares during the period. Bank of Nova Scotia’s holdings in Allison Transmission were worth $333,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ALSN. FMR LLC lifted its position in shares of Allison Transmission by 1.9% in the fourth quarter. FMR LLC now owns 12,993,015 shares of the auto parts company’s stock worth $1,404,025,000 after buying an additional 247,318 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Allison Transmission by 301.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 2,378,731 shares of the auto parts company’s stock valued at $257,046,000 after acquiring an additional 1,785,687 shares in the last quarter. Allianz Asset Management GmbH boosted its position in Allison Transmission by 7.0% during the fourth quarter. Allianz Asset Management GmbH now owns 1,061,351 shares of the auto parts company’s stock worth $114,690,000 after purchasing an additional 69,008 shares during the period. Norges Bank acquired a new stake in shares of Allison Transmission in the fourth quarter worth $108,916,000. Finally, Federated Hermes Inc. lifted its position in Allison Transmission by 3.9% during the 4th quarter. Federated Hermes Inc. now owns 956,691 shares of the auto parts company’s stock worth $103,380,000 after acquiring an additional 36,065 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors.

Insider Transactions at Allison Transmission

In related news, SVP John Coll sold 1,788 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total transaction of $170,450.04. Following the completion of the sale, the senior vice president now directly owns 15,388 shares of the company’s stock, valued at $1,466,938.04. This trade represents a 10.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Ryan A. Milburn sold 4,546 shares of Allison Transmission stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $96.20, for a total value of $437,325.20. Following the completion of the transaction, the vice president now 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ALSN shares. Citigroup lowered their price target on Allison Transmission from $108.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird reduced their price objective on Allison Transmission from $123.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday. Raymond James dropped their target price 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. StockNews.com raised shares of Allison Transmission from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Allison Transmission from $110.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $100.13.

Allison Transmission Stock Performance

NYSE:ALSN opened at $88.93 on Wednesday. The firm has a market capitalization of $7.58 billion, a PE ratio of 10.70 and a beta of 0.95. 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 Holdings, Inc. has a 12-month low of $71.49 and a 12-month high of $122.53. The firm has a 50-day moving average price of $97.54 and a 200 day moving average price of $106.15.

Allison Transmission (NYSE:ALSN) last issued its earnings results on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. Research analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 earnings per share for the current fiscal year.

Allison Transmission declared that its Board of Directors has authorized a share buyback program on Thursday, February 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the auto parts company to repurchase up to 57.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Allison Transmission Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Monday, March 3rd. This is an increase from Allison Transmission’s previous quarterly dividend of $0.25. Allison Transmission’s payout ratio is currently 13.00%.

About Allison Transmission

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.