Norges Bank Purchases New Shares in AAON, Inc. (NASDAQ:AAON)

Norges Bank purchased a new position in shares of AAON, Inc. (NASDAQ:AAON) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 650,753 shares of the construction company’s stock, valued at approximately $76,581,000. Norges Bank owned 0.80% of AAON as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Robert W. Baird reduced their price target on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. DA Davidson lowered their price objective on shares of AAON from $150.00 to $125.00 and set a “buy” rating for the company 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 target price on the stock in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.50.

AAON Trading Up 4.5 %

AAON opened at $82.72 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON, Inc. has a fifty-two week low of $69.52 and a fifty-two week high of $144.07. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 36.44 and a beta of 1.00. The company’s 50 day moving average price is $96.56 and its two-hundred day moving average price is $112.43.

AAON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from AAON’s previous quarterly dividend of $0.08. AAON’s payout ratio is 19.90%.

AAON announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 4th that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors 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, with a total value 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. The trade was a 50.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.55% of the stock is currently owned by company insiders.

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.