AAON, Inc. (NASDAQ:AAON) Shares Sold by Sei Investments Co.

Sei Investments Co. decreased its position in AAON, Inc. (NASDAQ:AAON) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 218,017 shares of the construction company’s stock after selling 20,316 shares during the period. Sei Investments Co.’s holdings in AAON were worth $25,656,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in AAON in the fourth quarter worth approximately $73,313,000. Wasatch Advisors LP grew its holdings in shares of AAON by 39.1% during the 3rd quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock worth $201,310,000 after purchasing an additional 525,132 shares during the period. Franklin Resources Inc. increased its position in shares of AAON by 258.8% during the 3rd quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company’s stock worth $37,014,000 after purchasing an additional 238,308 shares during the last quarter. FMR LLC raised its holdings in 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 buying an additional 151,540 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in AAON by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock valued at $351,615,000 after buying an additional 150,207 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AAON. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. CJS Securities upgraded 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 cut their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Finally, DA Davidson lowered their target price on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 28th. One equities 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 company’s stock. According to data from MarketBeat.com, AAON presently has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Insiders Place Their Bets

In other news, Director David Raymond Stewart acquired 1,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the acquisition, the director now owns 3,000 shares in the company, valued at $242,580. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 18.55% of the stock is owned by corporate insiders.

AAON Trading Down 3.2 %

AAON opened at $81.45 on Thursday. 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, Inc. has a one year low of $69.52 and a one year high of $144.07. The company has a market cap of $6.65 billion, a P/E ratio of 35.88 and a beta of 1.00. The business’s 50-day simple moving average is $102.79 and its 200-day simple moving average is $113.05.

AAON Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th will be paid a $0.10 dividend. This is a positive change from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.49%. The ex-dividend date is Tuesday, March 18th. AAON’s dividend payout ratio is currently 19.90%.

AAON declared that its board has initiated a share repurchase program on Tuesday, March 4th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.