LPL Financial LLC Acquires 4,245 Shares of AAON, Inc. (NASDAQ:AAON)

LPL Financial LLC lifted its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 11.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,049 shares of the construction company's stock after purchasing an additional 4,245 shares during the period. LPL Financial LLC owned about 0.05% of AAON worth $4,948,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. raised its holdings in AAON by 521.6% in the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company's stock worth $27,000 after purchasing an additional 193 shares during the period. Twin Tree Management LP purchased a new stake in AAON in the fourth quarter worth about $33,000. UMB Bank n.a. raised its stake in shares of 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 buying an additional 131 shares during the period. Westside Investment Management Inc. purchased a new position in shares of AAON during the 3rd quarter valued at about $36,000. Finally, Empowered Funds LLC bought a new position in shares of AAON during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 70.81% of the company's stock.

AAON Price Performance

NASDAQ AAON traded up $3.74 during trading on Friday, hitting $84.16. 882,327 shares of the stock traded hands, compared to its average volume of 721,604. The company has a market capitalization of $6.87 billion, a P/E ratio of 37.08 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 firm has a 50-day simple moving average of $89.36 and a 200-day simple moving average of $110.86. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07.

Remove Ads

AAON declared that its Board of Directors has approved a stock repurchase plan on Tuesday, March 4th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

AAON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from AAON's previous quarterly dividend of $0.08. AAON's payout ratio is currently 19.90%.

Insider Activity at AAON

In other news, Director David Raymond Stewart acquired 1,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company's stock, valued at approximately $242,580. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AAON has been the topic of several analyst reports. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Friday, February 28th. StockNews.com cut shares of AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. DA Davidson cut their price target on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, 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. One equities research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $115.50.

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.