Zacks Investment Management Sells 1,009 Shares of AAON, Inc. (NASDAQ:AAON)

Zacks Investment Management decreased its stake in shares of AAON, Inc. (NASDAQ:AAON) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,416 shares of the construction company’s stock after selling 1,009 shares during the period. Zacks Investment Management’s holdings in AAON were worth $637,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. raised its position in shares of AAON by 521.6% during the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after purchasing an additional 193 shares during the period. Twin Tree Management LP bought a new stake in shares of AAON in the 4th quarter valued at approximately $33,000. UMB Bank n.a. boosted its stake in AAON by 67.5% during the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after buying an additional 131 shares during the period. Westside Investment Management Inc. purchased a new position in shares of AAON during the 3rd quarter worth about $36,000. Finally, Empowered Funds LLC purchased a new stake in shares of AAON in the fourth quarter worth approximately $42,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AAON. Robert W. Baird decreased their price objective 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 price target for the company in a research note on Friday, February 28th. DA Davidson dropped 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. Finally, StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AAON currently has an average rating of “Moderate Buy” and an average price target of $115.50.

AAON Stock Performance

Shares of NASDAQ AAON opened at $82.46 on Friday. The company has a market cap of $6.73 billion, a PE ratio of 36.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07. The company has a 50-day simple moving average of $86.24 and a 200-day simple moving average of $109.97.

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 paid a dividend of $0.10 per share. This is an increase from AAON’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.49%. AAON’s payout ratio is 19.90%.

AAON announced that its board has initiated a stock buyback program on Tuesday, March 4th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at AAON

In other news, Director David Raymond Stewart acquired 1,000 shares of the company’s stock in a transaction dated 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 purchase, the director now owns 3,000 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 18.55% of the company’s stock.

AAON 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.