Harvest Fund Management Co. Ltd Acquires 208 Shares of AAON, Inc. (NASDAQ:AAON)

Harvest Fund Management Co. Ltd boosted its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,457 shares of the construction company’s stock after purchasing an additional 208 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in AAON were worth $174,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AAON. Mather Group LLC. lifted its position in shares of AAON by 521.6% in the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock worth $27,000 after acquiring an additional 193 shares during the period. Twin Tree Management LP acquired a new stake in shares of AAON in the 4th quarter valued at $33,000. Westside Investment Management Inc. bought a new position in shares of AAON in the 3rd quarter worth $36,000. UMB Bank n.a. boosted its position in shares of AAON by 67.5% in the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after purchasing an additional 131 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in AAON by 28.4% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock worth $41,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

AAON Stock Performance

NASDAQ AAON opened at $79.65 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. The stock has a fifty day simple moving average of $104.46 and a 200 day simple moving average of $112.93. AAON, Inc. has a twelve month low of $69.52 and a twelve month high of $144.07. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 35.09 and a beta of 1.00.

AAON announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the construction company to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

AAON Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from AAON’s previous quarterly dividend of $0.08. AAON’s dividend payout ratio is 19.90%.

Insider Transactions at AAON

In other AAON news, Director David Raymond Stewart purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $80.86 per share, with a total value of $80,860.00. Following the transaction, the director now owns 3,000 shares in the company, valued at $242,580. The trade was a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AAON. DA Davidson cut their price target on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. StockNews.com downgraded 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 research report on Friday, February 28th. Finally, CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $115.50.

About AAON

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.