Tower Research Capital LLC TRC Grows Position in AAON, Inc. (NASDAQ:AAON)

Tower Research Capital LLC TRC lifted its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 278.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,308 shares of the construction company's stock after acquiring an additional 4,642 shares during the quarter. Tower Research Capital LLC TRC's holdings in AAON were worth $742,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AAON. Vanguard Group Inc. increased its stake in shares of AAON by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company's stock worth $734,262,000 after purchasing an additional 75,832 shares during the last quarter. JPMorgan Chase & Co. increased its stake in 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 acquiring an additional 150,207 shares during the last quarter. Invesco Ltd. increased its position in shares of AAON by 15.6% in the fourth 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 during the last quarter. Geode Capital Management LLC raised its position in shares of AAON by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company's stock valued at $145,692,000 after buying an additional 3,644 shares in the last quarter. Finally, Blair William & Co. IL lifted its stake in AAON by 4.2% during the fourth quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company's stock worth $137,660,000 after purchasing an additional 47,254 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Friday, February 28th. Robert W. Baird reduced their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. StockNews.com cut AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Finally, DA Davidson decreased their target price 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AAON presently has an average rating of "Moderate Buy" and a consensus price target of $115.50.

Insider Activity at AAON

In other AAON news, Director David Raymond Stewart purchased 1,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the purchase, the director now directly owns 3,000 shares of the company's stock, valued at $242,580. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.70% of the stock is owned by insiders.

AAON Stock Up 6.1 %

Shares of AAON stock traded up $5.56 on Thursday, reaching $96.83. The company's stock had a trading volume of 1,064,469 shares, compared to its average volume of 734,150. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 42.83 and a beta of 0.96. 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 52 week low of $68.98 and a 52 week high of $144.07. The firm's fifty day simple moving average is $82.05 and its two-hundred day simple moving average is $108.66.

AAON Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.41%. This is a boost from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio is currently 19.90%.

AAON declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 4th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

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.