AAON, Inc. (NASDAQ:AAON) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 0.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,237,680 shares of the construction company's stock after buying an additional 3,644 shares during the quarter. Geode Capital Management LLC owned about 1.52% of AAON worth $145,692,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, Director David Raymond Stewart bought 1,000 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost 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 in the company, valued at approximately $242,580. This represents a 50.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 18.55% of the company's stock.

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Analysts Set New Price Targets

A number of research firms recently issued reports on AAON. Robert W. Baird lowered their price target 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 AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. CJS Securities upgraded 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 report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $115.50.

AAON Stock Performance

Shares of AAON stock traded up $3.74 during trading hours on Friday, reaching $84.16. 882,327 shares of the company's stock were exchanged, compared to its average volume of 720,440. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The company's 50 day moving average is $89.36 and its two-hundred day moving average is $110.83. The company has a market cap of $6.87 billion, a P/E ratio of 37.08 and a beta of 0.96. AAON, Inc. has a 1 year low of $68.98 and a 1 year high of $144.07.

AAON announced that its board has authorized a stock buyback plan on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire 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 shares are undervalued.

AAON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.48%. This is an increase from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio (DPR) is 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.