Neuberger Berman Group LLC Has $7.06 Million Holdings in AAON, Inc. (NASDAQ:AAON)

Neuberger Berman Group LLC lessened its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,952 shares of the construction company's stock after selling 9,935 shares during the period. Neuberger Berman Group LLC owned approximately 0.07% of AAON worth $7,055,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in shares of AAON by 46.6% during the third quarter. HighTower Advisors LLC now owns 13,043 shares of the construction company's stock worth $1,408,000 after purchasing an additional 4,146 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of AAON by 3.1% in the 3rd quarter. Quantinno Capital Management LP now owns 6,486 shares of the construction company's stock worth $699,000 after purchasing an additional 192 shares in the last quarter. State Street Corp grew its stake in shares of AAON by 0.6% during the third quarter. State Street Corp now owns 1,977,531 shares of the construction company's stock worth $213,257,000 after acquiring an additional 12,502 shares during the last quarter. Wolverine Trading LLC purchased a new position in shares of AAON in the third quarter worth $471,000. Finally, Orion Portfolio Solutions LLC purchased a new position in AAON in the 3rd quarter worth $213,000. Hedge funds and other institutional investors own 70.81% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AAON shares. DA Davidson dropped their price objective 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. Robert W. Baird dropped their price target on AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. StockNews.com cut shares of AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Finally, 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. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AAON presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.50.

AAON Trading Down 1.6 %

Shares of AAON traded down $1.29 on Wednesday, hitting $80.80. 155,360 shares of the stock traded hands, compared to its average volume of 721,350. The firm has a market capitalization of $6.59 billion, a P/E ratio of 35.59 and a beta of 0.96. The stock's 50 day moving average is $88.11 and its two-hundred day moving average is $110.50. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Tuesday, March 18th. This is a positive change from AAON's previous quarterly dividend of $0.08. AAON's payout ratio is 19.90%.

AAON announced that its board has initiated a share buyback plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, Director David Raymond Stewart bought 1,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $80.86 per share, with a total value of $80,860.00. Following the purchase, the director now owns 3,000 shares in the company, valued at approximately $242,580. This represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 18.55% of the company's stock.

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.