Bridgewater Associates LP Takes Position in AAON, Inc. (NASDAQ:AAON)

Bridgewater Associates LP acquired a new position in AAON, Inc. (NASDAQ:AAON - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,268 shares of the construction company's stock, valued at approximately $385,000.

Several other large investors also recently added to or reduced their stakes in AAON. PNC Financial Services Group Inc. lifted its stake in AAON by 6.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company's stock valued at $455,000 after acquiring an additional 244 shares during the period. Avior Wealth Management LLC lifted its holdings in AAON by 5,040.4% during the 4th 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 during the last quarter. SG Americas Securities LLC raised its position in AAON by 691.1% in the 4th quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company's stock valued at $2,903,000 after purchasing an additional 21,548 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of AAON by 39.1% during the third quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company's stock worth $31,121,000 after acquiring an additional 81,111 shares during the period. Finally, Caldwell Investment Management Ltd. purchased a new stake in AAON during the fourth quarter worth $1,099,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Stock Performance

AAON traded up $2.51 during trading hours on Friday, hitting $88.35. The stock had a trading volume of 281,338 shares, compared to its average volume of 888,646. The stock has a market cap of $7.21 billion, a PE ratio of 38.92 and a beta of 0.96. The company's fifty day simple moving average is $83.78 and its 200 day simple moving average is $109.23. AAON, Inc. has a 1 year low of $68.98 and a 1 year high of $144.07. 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 announced that its Board of Directors 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 purchase 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.

AAON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were paid a $0.10 dividend. This is a boost from AAON's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. AAON's dividend payout ratio is 19.90%.

Insider Transactions at AAON

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of AAON stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the acquisition, the director now owns 3,000 shares of the company's stock, valued at $242,580. This represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 18.55% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AAON shares. Robert W. Baird dropped their price objective on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock 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 target price on the stock in a research report on Friday, February 28th. StockNews.com lowered AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Finally, DA Davidson reduced 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. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, AAON currently has a consensus 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.