Grantham Mayo Van Otterloo & Co. LLC Cuts Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 46.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 213,869 shares of the construction company's stock after selling 183,526 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.26% of AAON worth $25,168,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Mather Group LLC. grew its holdings in shares of AAON by 521.6% during 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 last quarter. Twin Tree Management LP acquired a new stake in AAON during the 4th quarter worth about $33,000. Westside Investment Management Inc. purchased a new stake in AAON during the 3rd quarter valued at about $36,000. UMB Bank n.a. grew its stake in AAON by 67.5% during the 4th 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 last quarter. Finally, Blue Trust Inc. increased 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 purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 70.81% of the company's stock.

Insider Activity

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

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Analyst Ratings Changes

AAON has been the subject of a number of research reports. StockNews.com downgraded AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. DA Davidson dropped their price objective 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. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 target price for the company in a report on Friday, February 28th. Finally, Robert W. Baird lowered their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AAON presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.50.

AAON Stock Performance

NASDAQ AAON traded up $0.93 during mid-day trading on Friday, reaching $81.35. 171,270 shares of the stock were exchanged, compared to its average volume of 716,156. The company has a market capitalization of $6.64 billion, a P/E ratio of 35.45 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. The business's 50 day moving average is $89.90 and its 200-day moving average is $110.99. AAON, Inc. has a 1 year low of $68.98 and a 1 year high of $144.07.

AAON declared that its board has initiated a stock buyback plan on Tuesday, March 4th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

AAON Increases Dividend

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