California Public Employees Retirement System Grows Position in AAON, Inc. (NASDAQ:AAON)

California Public Employees Retirement System raised its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 2.7% during the fourth quarter, HoldingsChannel reports. The firm owned 121,029 shares of the construction company’s stock after purchasing an additional 3,166 shares during the period. California Public Employees Retirement System’s holdings in AAON were worth $14,243,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in AAON by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company’s stock valued at $734,262,000 after buying an additional 75,832 shares during the period. JPMorgan Chase & Co. boosted its position in AAON by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock valued at $351,615,000 after acquiring an additional 150,207 shares in the last quarter. State Street Corp increased its holdings in shares of AAON by 0.6% in the 3rd quarter. State Street Corp now owns 1,977,531 shares of the construction company’s stock valued at $213,257,000 after acquiring an additional 12,502 shares during the period. Geode Capital Management LLC raised its position in shares of AAON by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,234,036 shares of the construction company’s stock worth $133,110,000 after acquiring an additional 6,338 shares in the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of AAON by 4.2% during the 4th quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company’s stock worth $137,660,000 after purchasing an additional 47,254 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

Insider Activity at AAON

In other news, Director David Raymond Stewart purchased 1,000 shares of the company’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 purchase, the director now owns 3,000 shares in the company, valued at $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.55% of the stock is owned by insiders.

AAON Stock Down 4.2 %

AAON stock opened at $74.20 on Friday. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. AAON, Inc. has a 52 week low of $69.52 and a 52 week high of $144.07. The stock has a market capitalization of $6.05 billion, a PE ratio of 32.69 and a beta of 1.00. The firm has a 50 day moving average of $94.25 and a 200 day moving average of $112.03.

AAON announced that its Board of Directors has approved a share buyback plan 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 plans are typically an indication that the company’s leadership believes its shares are undervalued.

AAON Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Tuesday, March 18th. 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 0.54%. AAON’s payout ratio is 19.90%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AAON shares. Robert W. Baird cut their target price on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Friday, February 28th. DA Davidson lowered their target price 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. Finally, StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AAON currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

AAON Company 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.