Neuberger Berman Group LLC Sells 9,935 Shares of AAON, Inc. (NASDAQ:AAON)

Neuberger Berman Group LLC cut its stake in shares of AAON, Inc. (NASDAQ:AAON) by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,952 shares of the construction company’s stock after selling 9,935 shares during the quarter. Neuberger Berman Group LLC’s holdings in AAON were worth $7,055,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. HighTower Advisors LLC boosted its position in shares of AAON by 46.6% during the 3rd quarter. HighTower Advisors LLC now owns 13,043 shares of the construction company’s stock worth $1,408,000 after purchasing an additional 4,146 shares in the last quarter. Quantinno Capital Management LP raised its stake in AAON by 3.1% during the 3rd quarter. Quantinno Capital Management LP now owns 6,486 shares of the construction company’s stock worth $699,000 after buying an additional 192 shares during the period. State Street Corp raised its stake in AAON by 0.6% during the 3rd quarter. State Street Corp now owns 1,977,531 shares of the construction company’s stock worth $213,257,000 after buying an additional 12,502 shares during the period. Wolverine Trading LLC bought a new position in AAON in the third quarter worth approximately $471,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in AAON in the third quarter valued at approximately $213,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AAON news, Director David Raymond Stewart purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $80.86 per share, with a total value of $80,860.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $242,580. The trade was a 50.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 18.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AAON shares. DA Davidson lowered their target price on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. CJS Securities upgraded 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 note on Friday, February 28th. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, Robert W. Baird reduced their price objective on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AAON currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

AAON Price Performance

Shares of NASDAQ:AAON opened at $80.42 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock has a market cap of $6.56 billion, a PE ratio of 35.43 and a beta of 0.96. The stock’s fifty day simple moving average is $89.90 and its two-hundred day simple moving average is $110.99. AAON, Inc. has a 1-year low of $68.98 and a 1-year high of $144.07.

AAON declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

AAON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were given a dividend of $0.10 per share. This is a positive change from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Tuesday, March 18th. AAON’s dividend payout ratio (DPR) is presently 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.