Fmr LLC Has $161.46 Million Stock Position in AAON, Inc. (NASDAQ:AAON)

FMR LLC decreased its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 20.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,372,012 shares of the construction company's stock after selling 357,486 shares during the period. FMR LLC owned 1.69% of AAON worth $161,458,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock valued at $41,000 after acquiring an additional 84 shares during the period. Louisiana State Employees Retirement System lifted its stake in AAON by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company's stock valued at $2,201,000 after acquiring an additional 100 shares in the last quarter. HUB Investment Partners LLC boosted its holdings in AAON by 5.2% during the fourth quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company's stock worth $237,000 after purchasing an additional 100 shares during the last quarter. Smith Moore & CO. grew its position in AAON by 3.1% in the fourth quarter. Smith Moore & CO. now owns 3,300 shares of the construction company's stock valued at $388,000 after purchasing an additional 100 shares in the last quarter. Finally, Conway Capital Management Inc. grew its position in AAON by 4.0% in the fourth quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company's stock valued at $306,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AAON. Robert W. Baird cut their price objective on AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a report 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 objective for the company 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 report on Friday, February 28th. Finally, DA Davidson decreased their price target on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $115.50.

AAON Price Performance

Shares of AAON stock traded up $2.02 during trading on Friday, hitting $82.46. The company had a trading volume of 510,664 shares, compared to its average volume of 723,798. The stock's 50-day moving average price is $86.84 and its 200 day moving average price is $110.12. AAON, Inc. has a one year low of $68.98 and a one year 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 firm has a market capitalization of $6.73 billion, a P/E ratio of 36.33 and a beta of 0.96.

AAON Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.10 per share. This is a positive change from AAON's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, March 18th. AAON's dividend payout ratio is 19.90%.

AAON announced that its board has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director David Raymond Stewart acquired 1,000 shares of AAON stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company's stock, valued at approximately $242,580. This represents a 50.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 18.55% of the stock is 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.