Kennedy Capital Management LLC Cuts Stock Position in AAON, Inc. (NASDAQ:AAON)

Kennedy Capital Management LLC lessened its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,774 shares of the construction company's stock after selling 3,822 shares during the quarter. Kennedy Capital Management LLC owned 0.09% of AAON worth $8,917,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AAON. Blue Trust Inc. grew its holdings in AAON by 28.4% during 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. Louisiana State Employees Retirement System grew its position in shares of AAON by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company's stock valued at $2,201,000 after purchasing an additional 100 shares in the last quarter. HUB Investment Partners LLC increased its stake in AAON by 5.2% in the 4th quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company's stock worth $237,000 after acquiring an additional 100 shares during the last quarter. Smith Moore & CO. raised its stake in AAON by 3.1% during the fourth quarter. Smith Moore & CO. now owns 3,300 shares of the construction company's stock valued at $388,000 after purchasing an additional 100 shares in the last quarter. Finally, Conway Capital Management Inc. lifted its holdings in shares of AAON by 4.0% in the 4th quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company's stock valued at $306,000 after acquiring an additional 101 shares during the last quarter. Institutional investors own 70.81% of the company's stock.

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Insider Activity at AAON

In other AAON news, Director David Raymond Stewart bought 1,000 shares of AAON stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $80.86 per share, with a total value of $80,860.00. Following the purchase, the director now directly 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 filing with the SEC, which is available through the SEC website. 18.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on AAON shares. Robert W. Baird decreased 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. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a report on Friday, February 28th. DA Davidson dropped their target price on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, StockNews.com cut AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. 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 NASDAQ:AAON traded down $1.92 during trading on Tuesday, hitting $82.09. The stock had a trading volume of 831,626 shares, compared to its average volume of 722,479. The stock has a 50-day simple moving average of $88.74 and a two-hundred day simple moving average of $110.70. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 36.16 and a beta of 0.96. AAON, Inc. has a 12-month low of $68.98 and a 12-month high of $144.07. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07.

AAON declared that its board has approved a share buyback plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes 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 of directors believes its stock is undervalued.

AAON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were paid a $0.10 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. This is a positive change from AAON's previous quarterly dividend of $0.08. 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.