Summitry LLC Buys 708 Shares of AAON, Inc. (NASDAQ:AAON)

Summitry LLC grew its stake in AAON, Inc. (NASDAQ:AAON) by 26.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,359 shares of the construction company’s stock after purchasing an additional 708 shares during the quarter. Summitry LLC’s holdings in AAON were worth $395,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AAON. Mather Group LLC. raised its holdings in AAON by 521.6% in the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Twin Tree Management LP bought a new position in shares of AAON during the fourth quarter worth approximately $33,000. UMB Bank n.a. lifted its holdings in AAON by 67.5% during 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. Westside Investment Management Inc. acquired a new stake in AAON during the 3rd quarter worth approximately $36,000. Finally, Empowered Funds LLC acquired a new position in AAON in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insider Buying and Selling at AAON

In related news, Director David Raymond Stewart bought 1,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $242,580. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 18.55% of the company’s stock.

AAON Price Performance

Shares of NASDAQ:AAON opened at $84.10 on Wednesday. The firm has a 50 day moving average of $103.67 and a 200-day moving average of $113.08. AAON, Inc. has a 12 month low of $69.52 and a 12 month high of $144.07. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $6.86 billion, a PE ratio of 37.05 and a beta of 1.00.

AAON declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

AAON Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 18th. This is a boost from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.48%. AAON’s dividend payout ratio is presently 19.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. DA Davidson dropped 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. Robert W. Baird dropped their price objective on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note 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. Finally, CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.