Oregon Public Employees Retirement Fund Purchases 17,100 Shares of Allison Transmission Holdings, Inc. $ALSN

Oregon Public Employees Retirement Fund purchased a new stake in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) during the 3rd quarter, Holdings Channel reports. The fund purchased 17,100 shares of the auto parts company’s stock, valued at approximately $1,937,000.

Several other hedge funds have also recently bought and sold shares of the business. Bank of America Corp DE acquired a new stake in shares of Allison Transmission during the 2nd quarter valued at about $83,110,000. MAC Alpha Capital Management LP grew its stake in shares of Allison Transmission by 59.4% in the 2nd quarter. MAC Alpha Capital Management LP now owns 156,191 shares of the auto parts company’s stock valued at $17,610,000 after buying an additional 58,208 shares in the last quarter. Vise Technologies Inc. acquired a new position in Allison Transmission in the second quarter worth approximately $1,047,000. BlackRock Inc. acquired a new position in Allison Transmission in the second quarter worth approximately $448,232,000. Finally, Man Group plc acquired a new position in Allison Transmission in the second quarter worth approximately $5,386,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALSN. Weiss Ratings raised shares of Allison Transmission from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company decreased their target price on shares of Allison Transmission from $137.00 to $120.00 and set an “equal weight” rating for the company in a research report on Thursday, October 8th. Citigroup increased their price target on shares of Allison Transmission from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday. Zacks Research upgraded shares of Allison Transmission from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Wolfe Research set a $147.00 price target on shares of Allison Transmission in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Allison Transmission presently has an average rating of “Moderate Buy” and a consensus target price of $135.62.

Insider Activity at Allison Transmission

In other news, insider Eric C. Scroggins sold 1,050 shares of Allison Transmission stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $125.00, for a total value of $131,250.00. Following the transaction, the insider owned 16,604 shares of the company’s stock, valued at $2,075,500. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Graziosi sold 26,708 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $132.97, for a total transaction of $3,551,362.76. Following the completion of the sale, the chief executive officer owned 304,843 shares of the company’s stock, valued at $40,534,973.71. The trade was a 8.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

Allison Transmission Stock Performance

ALSN opened at $116.74 on Friday. The company has a market cap of $9.59 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 0.56 and a beta of 1.06. The stock has a 50-day moving average of $116.41 and a 200-day moving average of $118.48. Allison Transmission Holdings, Inc. has a 52-week low of $78.77 and a 52-week high of $137.62. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.17 and a current ratio of 1.77.

Allison Transmission (NYSE:ALSN) last issued its quarterly earnings data on Monday, November 2nd. The auto parts company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.58. Allison Transmission had a return on equity of 42.33% and a net margin of 11.12%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. The firm’s revenue for the quarter was up 121.4% on a year-over-year basis. As a group, equities research analysts forecast that Allison Transmission Holdings, Inc. will post 10.68 earnings per share for the current fiscal year.

Allison Transmission Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. Allison Transmission’s dividend payout ratio is presently 16.67%.

About Allison Transmission

Allison Transmission designs and manufactures vehicle propulsion solutions, with a core business in fully automatic transmissions for commercial and military vehicles. Its products are used in applications such as buses, trucks, construction and refuse vehicles, emergency vehicles, and defense equipment.

The company also develops electrified propulsion technologies, including hybrid systems and electric axles, for commercial vehicles. Allison serves customers in markets around the world.

Founded in 1915, Allison’s transmission business was part of General Motors for decades before becoming independent in 2007.