Public Employees Retirement System of Ohio Sells 9,189 Shares of AAON, Inc. (NASDAQ:AAON)

Public Employees Retirement System of Ohio reduced its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 9.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,622 shares of the construction company's stock after selling 9,189 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.11% of AAON worth $10,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in AAON. PNC Financial Services Group Inc. boosted its position in shares of AAON by 6.7% in the fourth 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 stake in AAON by 5,040.4% in the 4th quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company's stock worth $284,000 after purchasing an additional 2,369 shares in the last quarter. JPMorgan Chase & Co. boosted 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 purchasing an additional 150,207 shares during the period. American Century Companies Inc. grew its position in shares of AAON by 19.3% during the 4th quarter. American Century Companies Inc. now owns 68,760 shares of the construction company's stock valued at $8,092,000 after purchasing an additional 11,140 shares in the last quarter. Finally, Highland Capital Management LLC bought a new position in shares of AAON in the fourth quarter worth $615,000. 70.81% of the stock is currently owned by institutional investors.

AAON Price Performance

Shares of AAON stock traded down $3.06 during trading hours on Wednesday, hitting $97.13. 479,243 shares of the company's stock were exchanged, compared to its average volume of 663,549. The company has a market capitalization of $7.90 billion, a PE ratio of 42.79 and a beta of 1.06. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. AAON, Inc. has a 12-month low of $68.98 and a 12-month high of $144.07. The business's 50 day simple moving average is $89.28 and its 200-day simple moving average is $106.86.

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

AAON announced that its Board of Directors has authorized a share buyback program on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

AAON Dividend Announcement

The business 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 presently 21.05%.

Insider Activity at AAON

In other news, CEO Gary D. Fields sold 8,357 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $98.66, for a total transaction of $824,501.62. Following the completion of the sale, the chief executive officer now directly owns 26,491 shares in the company, valued at approximately $2,613,602.06. This represents a 23.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Raymond Stewart bought 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired 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 $242,580. The trade was a 50.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 70,823 shares of company stock worth $7,122,451 in the last ninety days. 18.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AAON shares. CJS Securities raised AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research note on Friday, February 28th. Robert W. Baird dropped their price objective on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a report on Friday, February 28th. DA Davidson cut their target price on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Finally, Wall Street Zen downgraded AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.