Bank of Nova Scotia Boosts Holdings in Allison Transmission Holdings, Inc. $ALSN

Bank of Nova Scotia boosted its holdings in Allison Transmission Holdings, Inc. (NYSE:ALSN) by 50.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,646 shares of the auto parts company’s stock after purchasing an additional 36,746 shares during the quarter. Bank of Nova Scotia’s holdings in Allison Transmission were worth $12,835,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in shares of Allison Transmission in the first quarter worth $26,000. Cedar Mountain Advisors LLC purchased a new position in Allison Transmission during the first quarter valued at $27,000. Cassaday & Co Wealth Management LLC purchased a new position in Allison Transmission during the first quarter valued at $28,000. Larson Financial Group LLC increased its holdings in Allison Transmission by 536.7% in the 4th quarter. Larson Financial Group LLC now owns 312 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 263 shares during the last quarter. Finally, Transamerica Financial Advisors LLC increased its holdings in Allison Transmission by 2,112.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 354 shares of the auto parts company’s stock valued at $35,000 after acquiring an additional 338 shares during the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ALSN. Weiss Ratings downgraded shares of Allison Transmission from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. Citigroup reduced their target price on Allison Transmission from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Morgan Stanley boosted their target price on Allison Transmission from $126.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Wells Fargo & Company increased their price target on Allison Transmission from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on Allison Transmission from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $131.17.

Allison Transmission Price Performance

ALSN stock opened at $122.15 on Friday. Allison Transmission Holdings, Inc. has a 52 week low of $76.01 and a 52 week high of $137.62. The company has a quick ratio of 1.18, a current ratio of 1.85 and a debt-to-equity ratio of 2.23. The company has a fifty day simple moving average of $115.79 and a two-hundred day simple moving average of $117.20. The firm has a market capitalization of $10.13 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95.

Allison Transmission (NYSE:ALSN) last posted its earnings results on Monday, May 4th. The auto parts company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.47. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.38 billion. Allison Transmission had a net margin of 14.88% and a return on equity of 37.50%. The business’s quarterly revenue was up 83.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.23 EPS. Analysts anticipate that Allison Transmission Holdings, Inc. will post 9.65 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a $0.29 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.16 annualized dividend and a yield of 0.9%. Allison Transmission’s dividend payout ratio (DPR) is currently 18.04%.

Insiders Place Their Bets

In other Allison Transmission news, CFO Scott A. Mell sold 2,270 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.00, for a total transaction of $283,750.00. Following the sale, the chief financial officer directly owned 1,053 shares of the company’s stock, valued at $131,625. The trade was a 68.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

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.