Charles Schwab Investment Management Inc. Sells 15,613 Shares of AAON, Inc. (NASDAQ:AAON)

Charles Schwab Investment Management Inc. lessened its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 689,242 shares of the construction company's stock after selling 15,613 shares during the period. Charles Schwab Investment Management Inc. owned about 0.85% of AAON worth $81,110,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Avior Wealth Management LLC boosted its position in shares of AAON by 5,040.4% in the fourth quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company's stock worth $284,000 after acquiring an additional 2,369 shares during the last quarter. SG Americas Securities LLC grew its holdings in AAON by 691.1% during the 4th quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company's stock valued at $2,903,000 after purchasing an additional 21,548 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of AAON by 39.1% during the third quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company's stock worth $31,121,000 after acquiring an additional 81,111 shares during the last quarter. Wolverine Trading LLC purchased a new stake in AAON during the 3rd quarter worth approximately $471,000. Finally, Caldwell Investment Management Ltd. acquired a new stake in AAON in the fourth quarter valued at $1,099,000. Hedge funds and other institutional investors own 70.81% of the company's stock.

Insider Activity at AAON

In related news, Director David Raymond Stewart purchased 1,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 18.55% of the company's stock.

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Wall Street Analysts Forecast Growth

AAON has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. StockNews.com downgraded shares of AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. CJS Securities raised 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 lowered their price objective on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $115.50.

AAON Stock Up 4.9 %

Shares of AAON stock traded up $3.83 on Friday, reaching $82.14. 590,390 shares of the company's stock traded hands, compared to its average volume of 660,415. The company has a market capitalization of $6.70 billion, a P/E ratio of 36.19 and a beta of 1.00. AAON, Inc. has a 12-month low of $69.52 and a 12-month 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. The business's 50 day moving average price is $109.26 and its two-hundred day moving average price is $113.32.

AAON declared that its board has authorized a stock repurchase program on Tuesday, March 4th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

AAON Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th will be given a $0.10 dividend. This is a positive change from AAON's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.49%. The ex-dividend date is Tuesday, March 18th. AAON's dividend payout ratio is presently 19.90%.

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.