Victory Capital Management Inc. Has $26.59 Million Stock Position in AAON, Inc. (NASDAQ:AAON)

Victory Capital Management Inc. cut its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 34.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 225,938 shares of the construction company's stock after selling 118,682 shares during the quarter. Victory Capital Management Inc. owned about 0.28% of AAON worth $26,588,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mather Group LLC. increased its position in AAON by 521.6% during 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 in the last quarter. Westside Investment Management Inc. purchased a new stake in AAON during the third quarter worth approximately $36,000. UMB Bank n.a. increased its position 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 acquiring an additional 131 shares in the last quarter. Blue Trust Inc. increased its position in shares of AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock worth $41,000 after acquiring an additional 84 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of AAON in the 4th quarter valued at $42,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on AAON shares. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target for the company in a research report on Friday, February 28th. Robert W. Baird lowered their target price on AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. DA Davidson reduced their price target 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 downgraded shares of AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $115.50.

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AAON Stock Up 3.3 %

AAON traded up $2.60 on Tuesday, reaching $82.39. The company's stock had a trading volume of 1,824,368 shares, compared to its average volume of 656,144. AAON, Inc. has a 1 year low of $69.52 and a 1 year high of $144.07. The business's 50 day moving average is $111.48 and its 200 day moving average is $113.88. 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 cap of $6.72 billion, a price-to-earnings ratio of 36.30 and a beta of 1.00.

AAON Increases Dividend

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

AAON announced that its board has initiated a share buyback plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other AAON news, VP Stephen E. Wakefield sold 5,362 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $130.99, for a total transaction of $702,368.38. Following the completion of the sale, the vice president now directly owns 4,558 shares in the company, valued at approximately $597,052.42. This trade represents a 54.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 18.55% of the stock is owned by corporate insiders.

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.