1,808 Shares in AAON, Inc. (NASDAQ:AAON) Acquired by Tradition Wealth Management LLC

Tradition Wealth Management LLC acquired a new stake in AAON, Inc. (NASDAQ:AAON) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,808 shares of the construction company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in AAON during the fourth quarter worth $76,581,000. Raymond James Financial Inc. bought a new stake in shares of AAON during the fourth quarter worth about $73,313,000. First Trust Advisors LP raised its holdings in shares of AAON by 85.6% in the 4th quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company’s stock worth $125,813,000 after acquiring an additional 493,219 shares during the last quarter. Invesco Ltd. lifted its position in AAON by 15.6% in the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company’s stock valued at $239,184,000 after acquiring an additional 274,119 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in AAON by 258.8% during the 3rd quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company’s stock valued at $37,014,000 after purchasing an additional 238,308 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

Insider Buying and Selling at AAON

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the business’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 acquisition, the director now owns 3,000 shares in the company, valued at approximately $242,580. This represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 18.55% of the company’s stock.

AAON Stock Performance

Shares of AAON stock opened at $77.92 on Tuesday. AAON, Inc. has a 52 week low of $68.98 and a 52 week high of $144.07. The firm’s 50-day simple moving average is $85.60 and its two-hundred day simple moving average is $109.78. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 34.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.

AAON announced that its board has initiated a share repurchase plan on Tuesday, March 4th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally an indication 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. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.51%. This is a positive change from AAON’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 18th. AAON’s dividend payout ratio is 19.90%.

Analyst Upgrades and Downgrades

AAON has been the subject of several analyst reports. Robert W. Baird lowered their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. StockNews.com cut AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. DA Davidson lowered their target price 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. Finally, CJS Securities upgraded 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.