Peak6 LLC Takes Position in AAON, Inc. (NASDAQ:AAON)

Peak6 LLC acquired a new position in shares of AAON, Inc. (NASDAQ:AAON) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,328 shares of the construction company’s stock, valued at approximately $1,686,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAON. Mather Group LLC. lifted its stake in shares of AAON by 521.6% in the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after buying an additional 193 shares during the period. Twin Tree Management LP acquired a new position in AAON in the 4th quarter valued at approximately $33,000. Westside Investment Management Inc. acquired a new position in AAON in the 3rd quarter valued at approximately $36,000. UMB Bank n.a. lifted its position in shares of AAON by 67.5% in the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after acquiring an additional 131 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of AAON by 28.4% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock worth $41,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director David Raymond Stewart bought 1,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $242,580. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 18.55% of the company’s stock.

AAON Stock Up 2.5 %

NASDAQ AAON opened at $82.46 on Friday. The stock’s 50 day simple moving average is $86.24 and its 200 day simple moving average is $109.97. 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 $68.98 and a one year high of $144.07. The firm has a market cap of $6.73 billion, a PE ratio of 36.33 and a beta of 0.96.

AAON declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

AAON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were given a dividend of $0.10 per share. This is an increase from AAON’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.49%. AAON’s dividend payout ratio is 19.90%.

Analyst Ratings Changes

AAON has been the topic of a number of recent research reports. StockNews.com downgraded shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Robert W. Baird lowered their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Friday, February 28th. Finally, DA Davidson decreased their price objective on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AAON presently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

AAON Company 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.