Treasurer of the State of North Carolina Sells 210 Shares of AAON, Inc. (NASDAQ:AAON)

Treasurer of the State of North Carolina decreased its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 0.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,630 shares of the construction company’s stock after selling 210 shares during the period. Treasurer of the State of North Carolina’s holdings in AAON were worth $3,487,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. raised its holdings in shares of AAON by 521.6% in the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after acquiring an additional 193 shares in the last quarter. Twin Tree Management LP purchased a new stake in AAON in the fourth quarter valued at approximately $33,000. Westside Investment Management Inc. bought a new stake in AAON during the third quarter valued at approximately $36,000. UMB Bank n.a. grew its stake in AAON by 67.5% in the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after buying an additional 131 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of AAON by 28.4% in the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock worth $41,000 after buying an additional 84 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on AAON. 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 research note on Friday, February 28th. StockNews.com lowered AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. DA Davidson dropped their target price on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Robert W. Baird reduced their price target on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has issued 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Activity at AAON

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at $242,580. This represents a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 18.55% of the stock is owned by company insiders.

AAON Trading Down 2.3 %

NASDAQ:AAON opened at $82.09 on Wednesday. The firm has a market capitalization of $6.70 billion, a P/E ratio of 36.16 and a beta of 0.96. AAON, Inc. has a 52 week low of $68.98 and a 52 week high of $144.07. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $88.74 and a 200 day moving average of $110.70.

AAON Increases Dividend

The company 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Tuesday, March 18th. AAON’s dividend payout ratio is currently 19.90%.

AAON announced that its Board of Directors has approved a share repurchase program on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.