Vanguard Group Inc. Purchases 75,832 Shares of AAON, Inc. (NASDAQ:AAON)

Vanguard Group Inc. raised its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,239,482 shares of the construction company's stock after acquiring an additional 75,832 shares during the period. Vanguard Group Inc. owned approximately 7.68% of AAON worth $734,262,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AAON. Advisors Asset Management Inc. increased its holdings in AAON by 208.0% in the third quarter. Advisors Asset Management Inc. now owns 730 shares of the construction company's stock valued at $79,000 after purchasing an additional 493 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of AAON during the 3rd quarter worth about $537,000. FMR LLC increased its stake in shares of AAON by 9.6% in the 3rd quarter. FMR LLC now owns 1,729,498 shares of the construction company's stock valued at $186,509,000 after acquiring an additional 151,540 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of AAON by 99.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,305 shares of the construction company's stock valued at $1,111,000 after acquiring an additional 5,133 shares during the period. Finally, Captrust Financial Advisors boosted its stake in AAON by 1.0% during the 3rd quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company's stock worth $949,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

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Insider Buying and Selling

In other AAON news, Director David Raymond Stewart bought 1,000 shares of AAON stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the acquisition, the director now owns 3,000 shares of the company's stock, valued at $242,580. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 18.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AAON has been the subject of several recent analyst reports. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Friday, February 28th. Robert W. Baird dropped their price objective on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. DA Davidson decreased their target price 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, StockNews.com lowered AAON from a "hold" rating to a "sell" rating in a research report 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $115.50.

AAON Stock Down 4.2 %

AAON traded down $3.28 during trading on Friday, hitting $74.20. The company had a trading volume of 1,030,061 shares, compared to its average volume of 713,385. The firm's 50-day moving average price is $94.25 and its 200 day moving average price is $112.03. The company has a market capitalization of $6.05 billion, a PE ratio of 32.69 and a beta of 1.00. 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, Inc. has a one year low of $69.52 and a one year high of $144.07.

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

AAON Increases Dividend

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

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.