AAON, Inc. (NASDAQ:AAON) Shares Sold by Amundi

Amundi cut its position in AAON, Inc. (NASDAQ:AAON) by 24.3% during the fourth quarter, Holdings Channel reports. The firm owned 8,514 shares of the construction company’s stock after selling 2,740 shares during the period. Amundi’s holdings in AAON were worth $1,023,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Avior Wealth Management LLC grew its holdings in AAON by 5,040.4% during the fourth quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company’s stock worth $284,000 after acquiring an additional 2,369 shares during the period. SG Americas Securities LLC grew its holdings in AAON by 691.1% during 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 grew its holdings in AAON by 39.1% during the third 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 during the period. Wolverine Trading LLC acquired a new stake in AAON during the third quarter worth about $471,000. Finally, Caldwell Investment Management Ltd. acquired a new stake in AAON during the fourth quarter worth about $1,099,000. 70.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David Raymond Stewart bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $242,580. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 18.55% of the company’s stock.

Wall Street Analysts Forecast Growth

AAON has been the topic of several analyst reports. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Friday, February 28th. Robert W. Baird dropped 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. StockNews.com lowered AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Finally, DA Davidson dropped their price objective on AAON from $150.00 to $125.00 and set a “buy” rating on the stock 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

AAON Stock Performance

NASDAQ AAON opened at $79.80 on Wednesday. The company has a market cap of $6.51 billion, a PE ratio of 35.15 and a beta of 1.00. The stock’s 50 day simple moving average is $106.90 and its 200-day simple moving average is $113.34. AAON, Inc. has a 1-year low of $69.52 and a 1-year high of $144.07. 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 declared that its Board of Directors has approved a share buyback program on Tuesday, March 4th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

AAON Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from AAON’s previous quarterly dividend of $0.08. AAON’s dividend payout ratio (DPR) is 19.90%.

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.