Dimensional Fund Advisors LP Sells 140,906 Shares of AAON, Inc. (NASDAQ:AAON)

Dimensional Fund Advisors LP cut its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,336,267 shares of the construction company's stock after selling 140,906 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.64% of AAON worth $157,259,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of AAON by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company's stock worth $734,262,000 after acquiring an additional 75,832 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of AAON by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock worth $351,615,000 after purchasing an additional 150,207 shares during the period. Invesco Ltd. increased its position in shares of AAON by 15.6% during the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock worth $239,184,000 after buying an additional 274,119 shares during the period. Geode Capital Management LLC boosted its position in AAON by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company's stock valued at $145,692,000 after acquiring an additional 3,644 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in shares of 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 purchasing an additional 47,254 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Insider Buying and Selling

In related news, Director David Raymond Stewart acquired 1,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were acquired at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the purchase, the director now 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.55% of the stock is currently owned by company insiders.

AAON Stock Up 2.4 %

AAON stock traded up $2.16 during midday trading on Wednesday, reaching $91.27. 852,650 shares of the company's stock traded hands, compared to its average volume of 731,975. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The firm's fifty day moving average price is $82.05 and its 200-day moving average price is $108.66. AAON, Inc. has a 52 week low of $68.98 and a 52 week high of $144.07. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 40.21 and a beta of 0.96.

AAON declared that its board has authorized a stock 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 purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

AAON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 18th. This is an increase from AAON's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. AAON's payout ratio is presently 19.90%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AAON. CJS Securities raised 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 target price on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research report 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. Finally, Robert W. Baird decreased their price target 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.