JPMorgan Chase & Co. Has $351.18 Million Holdings in AAON, Inc. (NASDAQ:AAON)

JPMorgan Chase & Co. reduced its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,984,178 shares of the construction company's stock after selling 276,348 shares during the period. JPMorgan Chase & Co. owned about 3.67% of AAON worth $351,178,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AAON. DA Davidson dropped their target price 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. Robert W. Baird cut their price objective 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 research report on Friday, February 28th. Finally, 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 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AAON has an average rating of "Moderate Buy" and a consensus target price of $115.50.

Remove Ads

AAON Stock Down 4.2 %

Shares of AAON stock traded down $3.28 during trading on Friday, hitting $74.20. 1,030,061 shares of the stock traded hands, compared to its average volume of 713,385. AAON, Inc. has a twelve month low of $69.52 and a twelve month high of $144.07. The company has a fifty day moving average price of $94.25 and a two-hundred day moving average price of $112.03. The stock has a market cap of $6.05 billion, a P/E ratio of 32.69 and a beta of 1.00. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.10 per share. This is an increase from AAON's previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.54%. AAON's payout ratio is presently 19.90%.

AAON declared that its board has authorized a stock buyback program 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 programs are typically an indication that the company's management believes its stock is undervalued.

Insider Activity

In other AAON news, Director David Raymond Stewart bought 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the purchase, the director now owns 3,000 shares in the company, valued at $242,580. This represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 18.55% of the stock is owned by company insiders.

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.