Summitry LLC Purchases 708 Shares of AAON, Inc. (NASDAQ:AAON)

Summitry LLC lifted its position in shares of AAON, Inc. (NASDAQ:AAON) by 26.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,359 shares of the construction company’s stock after purchasing an additional 708 shares during the period. Summitry LLC’s holdings in AAON were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in AAON during the 4th quarter worth approximately $73,313,000. Wasatch Advisors LP lifted its holdings in shares of AAON by 39.1% during the third quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock worth $201,310,000 after purchasing an additional 525,132 shares during the period. Franklin Resources Inc. grew its stake in shares of AAON by 258.8% in the third quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company’s stock worth $37,014,000 after purchasing an additional 238,308 shares during the last quarter. FMR LLC increased its holdings in AAON by 9.6% in the third quarter. FMR LLC now owns 1,729,498 shares of the construction company’s stock valued at $186,509,000 after purchasing an additional 151,540 shares during the period. Finally, JPMorgan Chase & Co. raised its position in AAON by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock worth $351,615,000 after purchasing an additional 150,207 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AAON shares. DA Davidson reduced their price target on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Friday, February 28th. Robert W. Baird lowered their price target on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Finally, StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AAON has an average rating of “Moderate Buy” and an average price target of $115.50.

Insider Activity at AAON

In other news, Director David Raymond Stewart bought 1,000 shares of AAON stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the purchase, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. This represents a 50.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.55% of the stock is owned by corporate insiders.

AAON Trading Up 0.6 %

NASDAQ AAON opened at $84.10 on Wednesday. The stock has a market capitalization of $6.86 billion, a P/E ratio of 37.05 and a beta of 1.00. The business has a 50 day simple moving average of $103.67 and a 200 day simple moving average of $113.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON, Inc. has a one year low of $69.52 and a one year high of $144.07.

AAON Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.48%. This is a positive change from AAON’s previous quarterly dividend of $0.08. AAON’s payout ratio is currently 19.90%.

AAON announced that its Board of Directors has approved a share buyback plan on Tuesday, March 4th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

AAON Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.