AAON, Inc. (NASDAQ:AAON) Shares Bought by First Trust Advisors LP

First Trust Advisors LP increased its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 85.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,069,112 shares of the construction company's stock after buying an additional 493,219 shares during the period. First Trust Advisors LP owned 1.32% of AAON worth $125,813,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAON. Mather Group LLC. increased its stake in AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company's stock worth $27,000 after acquiring an additional 193 shares during the last quarter. Twin Tree Management LP bought a new position in shares of AAON during the 4th quarter valued at approximately $33,000. UMB Bank n.a. raised its holdings in AAON by 67.5% during the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company's stock valued at $38,000 after buying an additional 131 shares during the period. Westside Investment Management Inc. bought a new stake in AAON in the third quarter worth $36,000. Finally, Empowered Funds LLC purchased a new position in AAON during the fourth quarter worth $42,000. 70.81% of the stock is owned by institutional investors.

Insider Activity

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at approximately $242,580. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 18.55% of the company's stock.

AAON Stock Up 2.4 %

AAON stock traded up $2.10 during trading on Friday, hitting $87.94. 842,971 shares of the company's stock traded hands, compared to its average volume of 732,560. The firm has a market capitalization of $7.15 billion, a P/E ratio of 38.74 and a beta of 0.96. 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. The business has a fifty day simple moving average of $83.24 and a two-hundred day simple moving average of $109.09.

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

AAON Increases Dividend

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

Analyst Ratings Changes

A number of research firms recently commented on AAON. DA Davidson dropped their price target 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. CJS Securities upgraded AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Friday, February 28th. Robert W. Baird dropped 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. Finally, StockNews.com downgraded AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AAON has an average 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.