AAON, Inc. (NASDAQ:AAON) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,796 shares of the construction company's stock after selling 6,270 shares during the quarter. Legal & General Group Plc owned about 0.16% of AAON worth $15,157,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its stake in AAON by 46.6% in the third quarter. HighTower Advisors LLC now owns 13,043 shares of the construction company's stock valued at $1,408,000 after acquiring an additional 4,146 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of AAON in the 3rd quarter valued at about $213,000. Barclays PLC boosted its position in shares of AAON by 182.2% in the 3rd quarter. Barclays PLC now owns 84,472 shares of the construction company's stock valued at $9,111,000 after purchasing an additional 54,535 shares during the period. Geode Capital Management LLC boosted its position in shares of AAON by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,234,036 shares of the construction company's stock valued at $133,110,000 after purchasing an additional 6,338 shares during the period. Finally, Westside Investment Management Inc. purchased a new position in AAON during the 3rd quarter worth approximately $36,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 18.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AAON has been the subject of several research analyst reports. CJS Securities raised 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. DA Davidson reduced their price target on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a report on Friday, February 28th. 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 research report on Friday, February 28th. Finally, StockNews.com downgraded shares of AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. One investment 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $115.50.

AAON Price Performance

AAON traded up $2.02 during midday trading on Friday, reaching $82.46. 510,664 shares of the company's stock were exchanged, compared to its average volume of 725,110. The business's 50-day moving average price is $86.84 and its 200 day moving average price is $110.12. The stock has a market capitalization of $6.73 billion, a PE ratio of 36.33 and a beta of 0.96. AAON, Inc. has a 1-year low of $68.98 and a 1-year high of $144.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79.

AAON announced that its board has initiated a stock buyback program on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.

AAON Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Tuesday, March 18th. This is a boost from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio is 19.90%.

AAON Company 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.