First Trust Advisors LP Increases Position in AAON, Inc. (NASDAQ:AAON)

First Trust Advisors LP grew its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 85.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,069,112 shares of the construction company’s stock after purchasing an additional 493,219 shares during the period. First Trust Advisors LP owned approximately 1.32% of AAON worth $125,813,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Forum Financial Management LP bought a new position in AAON in the 4th quarter worth about $202,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of AAON by 0.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 47,201 shares of the construction company’s stock worth $5,550,000 after buying an additional 366 shares in the last quarter. PEAK6 LLC purchased a new stake in shares of AAON during the fourth quarter valued at approximately $1,686,000. Bridgewater Associates LP bought a new stake in shares of AAON during the fourth quarter valued at approximately $385,000. Finally, Ontario Teachers Pension Plan Board raised its holdings in AAON by 679.6% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 20,713 shares of the construction company’s stock worth $2,438,000 after acquiring an additional 18,056 shares during the last quarter. 70.81% of the stock is owned by institutional investors.

Insider Buying and Selling at AAON

In related news, Director David Raymond Stewart purchased 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the acquisition, the director now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 18.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AAON has been the topic of several recent analyst reports. StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Robert W. Baird decreased their target price 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 shares of 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, DA Davidson reduced their price target on shares of AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AAON presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

AAON Trading Up 2.5 %

Shares of NASDAQ:AAON opened at $82.46 on Monday. The stock’s 50-day simple moving average is $86.24 and its two-hundred day simple moving average is $109.99. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 36.33 and a beta of 0.96. AAON, Inc. has a 52-week low of $68.98 and a 52-week high of $144.07. 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 announced that its board has initiated a stock buyback program on Tuesday, March 4th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the construction company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

AAON Increases Dividend

The firm also recently announced 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 represents a $0.40 annualized dividend and a yield of 0.49%. This is a positive change from AAON’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 18th. AAON’s payout ratio is 19.90%.

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.