Gitterman Wealth Management LLC Has $941,000 Stock Position in AAON, Inc. (NASDAQ:AAON)

Gitterman Wealth Management LLC lowered its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 11.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,000 shares of the construction company’s stock after selling 1,000 shares during the period. AAON comprises about 0.4% of Gitterman Wealth Management LLC’s portfolio, making the stock its 17th biggest holding. Gitterman Wealth Management LLC’s holdings in AAON were worth $941,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Avior Wealth Management LLC raised its holdings in shares of AAON by 5,040.4% during the 4th quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company’s stock worth $284,000 after buying an additional 2,369 shares in the last quarter. SG Americas Securities LLC increased its holdings in AAON by 691.1% in the 4th quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company’s stock worth $2,903,000 after purchasing an additional 21,548 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in AAON by 39.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company’s stock worth $31,121,000 after purchasing an additional 81,111 shares in the last quarter. Wolverine Trading LLC acquired a new position in AAON in the 3rd quarter worth about $471,000. Finally, Caldwell Investment Management Ltd. acquired a new position in AAON in the 4th quarter worth about $1,099,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AAON. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Friday, February 28th. DA Davidson lowered their target price on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 28th. StockNews.com cut AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, Robert W. Baird decreased their price target on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AAON presently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

AAON Trading Up 4.9 %

Shares of AAON stock opened at $82.14 on Friday. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 36.19 and a beta of 1.00. The stock has a 50-day moving average of $108.51 and a 200-day moving average of $113.38. 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 1-year low of $69.52 and a 1-year high of $144.07.

AAON Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be given a dividend of $0.10 per share. This is a positive change from AAON’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.49%. AAON’s dividend payout ratio is presently 19.90%.

AAON declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at AAON

In other news, Director David Raymond Stewart purchased 1,000 shares of the business’s stock in a transaction on 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 acquisition, the director now owns 3,000 shares in the company, valued at approximately $242,580. The trade was a 50.00 % increase in their ownership of the stock. 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 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.