Smartleaf Asset Management LLC Sells 536 Shares of AAON, Inc. (NASDAQ:AAON)

Smartleaf Asset Management LLC cut its stake in AAON, Inc. (NASDAQ:AAON) by 21.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,938 shares of the construction company’s stock after selling 536 shares during the quarter. Smartleaf Asset Management LLC’s holdings in AAON were worth $232,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bridges Investment Management Inc. lifted its holdings in shares of AAON by 18.2% in the 4th quarter. Bridges Investment Management Inc. now owns 12,072 shares of the construction company’s stock worth $1,421,000 after acquiring an additional 1,863 shares during the last quarter. West Michigan Advisors LLC purchased a new stake in AAON in the 4th quarter worth about $261,000. US Bancorp DE lifted its stake in AAON by 3.7% in the fourth quarter. US Bancorp DE now owns 50,259 shares of the construction company’s stock worth $5,914,000 after purchasing an additional 1,785 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of AAON by 2.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 16,901 shares of the construction company’s stock valued at $1,989,000 after buying an additional 425 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of AAON during the fourth quarter valued at approximately $644,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Price Performance

Shares of AAON stock opened at $81.94 on Thursday. AAON, Inc. has a twelve month low of $69.52 and a twelve month high of $144.07. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $114.73 and a two-hundred day simple moving average of $114.16. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 36.10 and a beta of 0.87.

AAON Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be paid a $0.10 dividend. This is a positive change from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.49%. AAON’s dividend payout ratio is 15.92%.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on AAON. Robert W. Baird reduced their price target 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 upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Friday, February 28th. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, DA Davidson reduced their price target 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. 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Insiders Place Their Bets

In other news, VP Stephen E. Wakefield sold 5,362 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $130.99, for a total value of $702,368.38. Following the completion of the sale, the vice president now owns 4,558 shares of the company’s stock, valued at approximately $597,052.42. This represents a 54.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 18.55% of the stock is owned by company insiders.

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.