Intellectus Partners LLC Cuts Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Intellectus Partners LLC reduced its position in AAON, Inc. (NASDAQ:AAON) by 8.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,883 shares of the construction company’s stock after selling 170 shares during the period. Intellectus Partners LLC’s holdings in AAON were worth $222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of AAON by 6.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company’s stock worth $455,000 after purchasing an additional 244 shares during the last quarter. Callan Family Office LLC bought a new stake in AAON in the 4th quarter worth about $259,000. Lisanti Capital Growth LLC purchased a new position in AAON in the 4th quarter worth about $1,979,000. Raymond James Financial Inc. purchased a new position in AAON in the 4th quarter worth about $73,313,000. Finally, Arizona State Retirement System lifted its stake in AAON by 0.9% during the 4th quarter. Arizona State Retirement System now owns 19,964 shares of the construction company’s stock valued at $2,349,000 after acquiring an additional 174 shares during the period. 70.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at AAON

In related news, VP Stephen E. Wakefield sold 5,362 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $130.99, for a total value of $702,368.38. Following the completion of the sale, the vice president now directly owns 4,558 shares of the company’s stock, valued at approximately $597,052.42. This represents a 54.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.55% of the stock is owned by company insiders.

AAON Stock Up 1.0 %

Shares of AAON stock opened at $82.07 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. AAON, Inc. has a 12 month low of $69.52 and a 12 month high of $144.07. The stock has a market cap of $6.70 billion, a P/E ratio of 36.15 and a beta of 1.00. The company has a 50 day simple moving average of $112.28 and a two-hundred day simple moving average of $113.65.

AAON Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be issued a $0.10 dividend. This is a boost from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Tuesday, March 18th. AAON’s dividend payout ratio (DPR) is currently 15.92%.

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