Bank of America Corp DE Has $31.81 Million Position in AAON, Inc. (NASDAQ:AAON)

Bank of America Corp DE boosted its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 150.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,327 shares of the construction company's stock after purchasing an additional 162,199 shares during the quarter. Bank of America Corp DE owned 0.33% of AAON worth $31,812,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AAON. PNC Financial Services Group Inc. increased its holdings in shares of AAON by 6.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company's stock worth $455,000 after purchasing an additional 244 shares during the period. Avior Wealth Management LLC grew its position in AAON by 5,040.4% during the fourth quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company's stock worth $284,000 after buying an additional 2,369 shares in the last quarter. SG Americas Securities LLC increased its stake in AAON by 691.1% during the fourth quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company's stock valued at $2,903,000 after acquiring an additional 21,548 shares during the period. JPMorgan Chase & Co. raised its holdings in AAON by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock valued at $351,615,000 after acquiring an additional 150,207 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of AAON in the 4th quarter worth approximately $284,000. 70.81% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Gordon Douglas Wichman sold 3,975 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $105.75, for a total transaction of $420,356.25. Following the completion of the sale, the director now directly owns 8,754 shares of the company's stock, valued at $925,735.50. This trade represents a 31.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary D. Fields sold 37,189 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total value of $3,651,959.80. Following the completion of the transaction, the chief executive officer now directly owns 63,714 shares in the company, valued at approximately $6,256,714.80. This represents a 36.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,823 shares of company stock worth $7,122,451. Insiders own 18.55% of the company's stock.

AAON Price Performance

Shares of NASDAQ AAON traded down $1.90 during midday trading on Thursday, reaching $98.62. 49,233 shares of the company traded hands, compared to its average volume of 662,366. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The stock's 50-day simple moving average is $87.43 and its 200-day simple moving average is $107.60. The firm has a market cap of $8.02 billion, a PE ratio of 43.53 and a beta of 1.06.

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

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

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, June 6th. AAON's dividend payout ratio (DPR) is currently 21.05%.

Analyst Upgrades and Downgrades

AAON has been the topic of several recent research reports. CJS Securities raised AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a report on Friday, February 28th. DA Davidson reduced their target price on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Robert W. Baird lowered their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Finally, StockNews.com cut 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 issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AAON presently has an average rating of "Moderate Buy" and a consensus price target 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.