Alliancebernstein L.P. Trims Stock Position in AAON, Inc. (NASDAQ:AAON)

Alliancebernstein L.P. trimmed its holdings in AAON, Inc. (NASDAQ:AAON) by 1.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 81,121 shares of the construction company’s stock after selling 1,484 shares during the period. Alliancebernstein L.P.’s holdings in AAON were worth $9,546,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAON. PNC Financial Services Group Inc. lifted its stake in shares of AAON by 6.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company’s stock valued at $455,000 after purchasing an additional 244 shares during the period. Avior Wealth Management LLC increased its holdings in AAON by 5,040.4% in the fourth quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company’s stock valued at $284,000 after buying an additional 2,369 shares in the last quarter. SG Americas Securities LLC raised its position in shares of AAON by 691.1% in the fourth quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company’s stock worth $2,903,000 after acquiring an additional 21,548 shares during the period. Lord Abbett & CO. LLC boosted its stake in shares of AAON by 39.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company’s stock worth $31,121,000 after acquiring an additional 81,111 shares in the last quarter. Finally, Wolverine Trading LLC acquired a new stake in shares of AAON during the 3rd quarter valued at about $471,000. 70.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AAON

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $80.86 per share, with a total value of $80,860.00. Following the purchase, the director now owns 3,000 shares in the company, valued at approximately $242,580. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.55% of the company’s stock.

AAON Stock Down 2.2 %

Shares of AAON opened at $80.42 on Friday. The stock has a 50 day moving average price of $89.90 and a 200 day moving average price of $110.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 35.43 and a beta of 0.96. AAON, Inc. has a one year low of $68.98 and a one year high of $144.07.

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

AAON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.10 per share. This is a positive change from AAON’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. AAON’s dividend payout ratio is presently 19.90%.

Analyst Upgrades and Downgrades

AAON has been the subject of a number of analyst reports. Robert W. Baird reduced their price target on AAON from $155.00 to $116.00 and set an “outperform” rating for the company 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 target price on the stock in a research report on Friday, February 28th. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Finally, DA Davidson decreased their price objective on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.50.

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.