AAON, Inc. (NASDAQ:AAON) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC increased its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,000 shares of the construction company's stock after purchasing an additional 3,118 shares during the period. MetLife Investment Management LLC owned 0.05% of AAON worth $4,825,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in AAON by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company's stock valued at $734,262,000 after acquiring an additional 75,832 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of AAON by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock valued at $351,615,000 after purchasing an additional 150,207 shares during the last quarter. Invesco Ltd. boosted its position in shares of AAON by 15.6% in the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock worth $239,184,000 after purchasing an additional 274,119 shares in the last quarter. Geode Capital Management LLC grew its stake in AAON by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company's stock worth $145,692,000 after buying an additional 3,644 shares during the last quarter. Finally, Blair William & Co. IL increased its position in AAON by 4.2% during the 4th quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company's stock valued at $137,660,000 after buying an additional 47,254 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Stock Performance

NASDAQ AAON traded up $2.16 on Wednesday, hitting $91.27. 852,650 shares of the company's stock traded hands, compared to its average volume of 731,975. The firm's 50-day moving average price is $82.05 and its two-hundred day moving average price is $108.66. The firm has a market capitalization of $7.42 billion, a PE ratio of 40.21 and a beta of 0.96. 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 $68.98 and a 1-year high of $144.07.

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 dividend of $0.10 per share. This is an increase from AAON's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.44%. The ex-dividend date was Tuesday, March 18th. AAON's dividend payout ratio (DPR) is currently 19.90%.

AAON announced that its Board of Directors has approved a share repurchase program on Tuesday, March 4th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AAON. CJS Securities upgraded 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. StockNews.com lowered shares of AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Robert W. Baird lowered 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. Finally, DA Davidson cut their target price on AAON from $150.00 to $125.00 and set a "buy" rating 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, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $115.50.

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 that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $80.86 per share, with a total value of $80,860.00. Following the completion of the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 18.55% 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.