Brokerages Set AAON, Inc. (NASDAQ:AAON) PT at $115.50

AAON, Inc. (NASDAQ:AAON) has earned a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $115.50.

Several research firms recently issued reports on AAON. Robert W. Baird reduced their price target on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. DA Davidson lowered their price target 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. 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 report on Friday, February 28th.

AAON Trading Down 1.5 %

Shares of NASDAQ:AAON opened at $80.24 on Tuesday. The stock has a market cap of $6.55 billion, a PE ratio of 35.35 and a beta of 1.00. 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 has a 12-month low of $69.52 and a 12-month high of $144.07. The business has a 50 day moving average of $100.79 and a 200-day moving average of $112.60.

AAON declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding 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 often an indication that the company’s board believes its stock is undervalued.

AAON Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 18th. This is a boost from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.50%. AAON’s dividend payout ratio is presently 19.90%.

Insider Transactions at AAON

In related news, Director David Raymond Stewart purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $80.86 per share, with a total value of $80,860.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $242,580. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 18.55% of the stock is owned by insiders.

Hedge Funds Weigh In On AAON

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAON. Norges Bank acquired a new position in shares of AAON during the fourth quarter worth $76,581,000. Raymond James Financial Inc. acquired a new position in AAON in the 4th quarter worth about $73,313,000. Wasatch Advisors LP increased its holdings in AAON by 39.1% in the 3rd quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock worth $201,310,000 after purchasing an additional 525,132 shares in the last quarter. First Trust Advisors LP raised its position in AAON by 85.6% in the fourth quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company’s stock valued at $125,813,000 after purchasing an additional 493,219 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of AAON during the fourth quarter valued at about $42,449,000. Institutional investors own 70.81% 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.