AAON, Inc. (NASDAQ:AAON) Shares Sold by Ostrum Asset Management

Ostrum Asset Management lessened its position in shares of AAON, Inc. (NASDAQ:AAON) by 60.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,095 shares of the construction company’s stock after selling 6,215 shares during the period. Ostrum Asset Management’s holdings in AAON were worth $482,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AAON. PNC Financial Services Group Inc. lifted its stake in AAON by 6.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company’s stock worth $455,000 after purchasing an additional 244 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of AAON by 5,040.4% during the fourth quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company’s stock worth $284,000 after purchasing an additional 2,369 shares during the period. SG Americas Securities LLC lifted its position in shares of AAON by 691.1% in the 4th quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company’s stock worth $2,903,000 after buying an additional 21,548 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of AAON by 39.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company’s stock valued at $31,121,000 after buying an additional 81,111 shares during the period. Finally, Caldwell Investment Management Ltd. bought a new stake in shares of AAON during the 4th quarter valued at about $1,099,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insider Buying and Selling at AAON

In other news, Director David Raymond Stewart bought 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $242,580. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

AAON Trading Up 2.5 %

NASDAQ:AAON opened at $82.46 on Monday. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 36.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. AAON, Inc. has a 1 year low of $68.98 and a 1 year high of $144.07. The business has a fifty day moving average of $86.24 and a 200-day moving average of $109.99.

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

AAON Increases Dividend

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

About AAON

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.