David Raymond Stewart Acquires 1,000 Shares of AAON, Inc. (NASDAQ:AAON) Stock

AAON, Inc. (NASDAQ:AAON) Director David Raymond Stewart acquired 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $242,580. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

AAON Stock Performance

NASDAQ AAON opened at $82.14 on Friday. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 36.19 and a beta of 1.00. 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. The company has a 50 day moving average of $108.51 and a 200-day moving average of $113.38.

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

AAON Increases Dividend

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

Institutional Trading of AAON

A number of hedge funds and other institutional investors have recently made changes to their positions in AAON. Park Square Financial Group LLC acquired a new position in AAON during the 4th quarter worth about $57,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of AAON during the fourth quarter worth $8,920,000. Forum Financial Management LP acquired a new position in shares of AAON during the fourth quarter valued at $202,000. GTS Securities LLC bought a new position in AAON in the fourth quarter valued at about $408,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AAON by 2.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 220,513 shares of the construction company’s stock worth $25,950,000 after purchasing an additional 4,839 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AAON. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Friday, February 28th. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. DA Davidson decreased their price objective on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Robert W. Baird dropped their target price on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average 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.