Comerica Bank Raises Holdings in AAON, Inc. (NASDAQ:AAON)

Comerica Bank lifted its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 44.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,056 shares of the construction company's stock after acquiring an additional 83,714 shares during the quarter. Comerica Bank owned 0.33% of AAON worth $31,780,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Mather Group LLC. lifted its holdings in AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company's stock valued at $27,000 after purchasing an additional 193 shares in the last quarter. Twin Tree Management LP purchased a new position in AAON in the 4th quarter valued at about $33,000. Westside Investment Management Inc. acquired a new stake in AAON in the 3rd quarter worth about $36,000. Quarry LP increased its stake in AAON by 49.0% during the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after buying an additional 103 shares in the last quarter. Finally, UMB Bank n.a. increased its stake 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 buying an additional 131 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Robert W. Baird reduced their price objective on AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. 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 research note on Friday, February 28th. DA Davidson dropped their price objective 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 lowered shares of AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $115.50.

AAON Trading Down 0.3 %

NASDAQ:AAON traded down $0.29 on Tuesday, reaching $98.64. The company's stock had a trading volume of 205,458 shares, compared to its average volume of 729,387. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 43.52 and a beta of 1.06. 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 12-month low of $68.98 and a 12-month high of $144.07. The stock has a 50 day moving average price of $81.90 and a 200 day moving average price of $108.37.

AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.13. AAON had a net margin of 15.78% and a return on equity of 24.98%. The company had revenue of $322.05 million for the quarter, compared to analysts' expectations of $289.16 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. AAON's revenue for the quarter was up 22.9% compared to the same quarter last year. On average, equities analysts anticipate that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. This is a boost from AAON's previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 18th. AAON's dividend payout ratio is 21.05%.

AAON declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at AAON

In other AAON news, Director David Raymond Stewart purchased 1,000 shares of AAON stock in a transaction dated 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. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 18.70% of the company's stock.

AAON 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.