AAON, Inc. (NASDAQ:AAON) Stake Increased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD grew its holdings in AAON, Inc. (NASDAQ:AAON) by 33.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 611,952 shares of the construction company’s stock after purchasing an additional 151,891 shares during the period. Price T Rowe Associates Inc. MD’s holdings in AAON were worth $72,016,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AAON. Norges Bank purchased a new stake in shares of AAON in the fourth quarter valued at $76,581,000. Raymond James Financial Inc. purchased a new stake in shares of AAON during the fourth quarter worth $73,313,000. First Trust Advisors LP raised its holdings in shares of AAON by 85.6% during the fourth quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company’s stock worth $125,813,000 after acquiring an additional 493,219 shares in the last quarter. Invesco Ltd. raised its holdings in shares of AAON by 15.6% during the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company’s stock worth $239,184,000 after acquiring an additional 274,119 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of AAON by 258.8% during the third quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company’s stock worth $37,014,000 after acquiring an additional 238,308 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

AAON Price Performance

Shares of NASDAQ:AAON opened at $88.79 on Tuesday. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07. The business has a 50-day moving average of $82.73 and a two-hundred day moving average of $108.92. The stock has a market capitalization of $7.22 billion, a P/E ratio of 39.11 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. This is a boost from AAON’s previous quarterly dividend of $0.08. AAON’s payout ratio is currently 19.90%.

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

Analyst Ratings Changes

AAON has been the subject of several recent research reports. DA Davidson cut their price objective on AAON from $150.00 to $125.00 and set a “buy” 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 objective for the company 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, Robert W. Baird cut 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Transactions at AAON

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $242,580. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 18.55% of the stock is currently owned by corporate insiders.

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.