Illinois Municipal Retirement Fund purchased a new stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,475 shares of the construction company's stock, valued at approximately $644,000.
Several other institutional investors also recently modified their holdings of the business. Private Advisor Group LLC bought a new stake in shares of AAON during the 3rd quarter valued at about $251,000. State of Alaska Department of Revenue grew its position in shares of AAON by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,865 shares of the construction company's stock valued at $848,000 after acquiring an additional 530 shares during the period. New York State Teachers Retirement System increased its stake in shares of AAON by 1.0% in the 3rd quarter. New York State Teachers Retirement System now owns 19,312 shares of the construction company's stock worth $2,083,000 after purchasing an additional 200 shares in the last quarter. Van ECK Associates Corp raised its holdings in AAON by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 49,111 shares of the construction company's stock worth $5,249,000 after purchasing an additional 14,033 shares during the period. Finally, Malaga Cove Capital LLC purchased a new position in AAON during the third quarter valued at $207,000. 70.81% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on AAON shares. DA Davidson decreased their price target on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 28th. StockNews.com cut AAON from a "hold" rating to a "sell" rating 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 price objective for the company in a report on Friday, February 28th. Finally, Robert W. Baird lowered their target price 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 analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AAON currently has an average rating of "Moderate Buy" and a consensus target price of $115.50.
Check Out Our Latest Analysis on AAON
Insiders Place Their Bets
In other AAON news, VP Stephen E. Wakefield sold 5,362 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $130.99, for a total transaction of $702,368.38. Following the transaction, the vice president now owns 4,558 shares of the company's stock, valued at approximately $597,052.42. This trade represents a 54.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.55% of the stock is currently owned by company insiders.
AAON Trading Up 1.0 %
Shares of NASDAQ AAON traded up $0.82 during trading hours on Friday, hitting $82.07. 1,590,652 shares of the company traded hands, compared to its average volume of 645,778. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 36.15 and a beta of 1.00. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. AAON, Inc. has a 12 month low of $69.52 and a 12 month high of $144.07. The company's 50 day moving average price is $113.07 and its 200 day moving average price is $113.71.
AAON Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.49%. This is a boost from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio is 15.92%.
AAON declared that its board has initiated a share buyback plan on Tuesday, March 4th that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.
About AAON
(
Free Report)
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.
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