Schroder Investment Management Group acquired a new stake in AAON, Inc. (NASDAQ:AAON - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 11,698 shares of the construction company's stock, valued at approximately $1,400,000.
A number of other institutional investors also recently modified their holdings of AAON. Norges Bank acquired a new stake in AAON in the fourth quarter worth $76,581,000. Raymond James Financial Inc. acquired a new stake in shares of AAON in the 4th quarter valued at about $73,313,000. Franklin Resources Inc. increased its position in AAON by 258.8% in the 3rd quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company's stock valued at $37,014,000 after buying an additional 238,308 shares in the last quarter. JPMorgan Chase & Co. raised its stake in AAON by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock worth $351,615,000 after buying an additional 150,207 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in AAON by 39.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company's stock worth $31,121,000 after buying an additional 81,111 shares during the period. Institutional investors and hedge funds own 70.81% of the company's stock.
Insider Buying and Selling at AAON
In related news, Director David Raymond Stewart bought 1,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were purchased 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 directly owns 3,000 shares in the company, valued at $242,580. The trade was a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 18.55% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently commented on AAON shares. StockNews.com downgraded AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Robert W. Baird decreased their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research note 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 research note on Friday, February 28th. Finally, DA Davidson reduced their price objective on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.50.
Check Out Our Latest Research Report on AAON
AAON Stock Performance
Shares of NASDAQ AAON traded up $3.74 during midday trading on Friday, reaching $84.16. The company's stock had a trading volume of 882,327 shares, compared to its average volume of 720,440. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The stock has a market capitalization of $6.87 billion, a P/E ratio of 37.08 and a beta of 0.96. The firm has a 50 day moving average price of $89.90 and a 200-day moving average price of $110.99. AAON, Inc. has a 12-month low of $68.98 and a 12-month high of $144.07.
AAON declared that its board has approved a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its shares are undervalued.
AAON Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were given a $0.10 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.48%. This is a boost from AAON's previous quarterly dividend of $0.08. AAON's payout ratio is currently 19.90%.
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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