HBK Sorce Advisory LLC Cuts Stock Holdings in AAON, Inc. (NASDAQ:AAON)

HBK Sorce Advisory LLC trimmed its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,916 shares of the construction company’s stock after selling 133 shares during the period. HBK Sorce Advisory LLC’s holdings in AAON were worth $343,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AAON. Mather Group LLC. boosted its position in AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after buying an additional 193 shares during the period. Westside Investment Management Inc. purchased a new stake in shares of AAON during the third quarter worth about $36,000. UMB Bank n.a. boosted its holdings in shares of AAON by 67.5% during the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after purchasing an additional 131 shares during the period. Blue Trust Inc. boosted its holdings in shares of AAON by 28.4% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock worth $41,000 after purchasing an additional 84 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of AAON during the fourth quarter worth about $42,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AAON

In other AAON news, Director David Raymond Stewart bought 1,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 18.55% of the company’s stock.

Wall Street Analysts Forecast Growth

AAON has been the subject of a number of analyst reports. Robert W. Baird dropped their target price 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 dropped their target price on shares of AAON from $150.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 28th. CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Friday, February 28th. Finally, StockNews.com downgraded shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.50.

AAON Price Performance

AAON stock opened at $82.14 on Friday. AAON, Inc. has a 1 year low of $69.52 and a 1 year high of $144.07. The company has a market cap of $6.70 billion, a P/E ratio of 36.19 and a beta of 1.00. The firm has a 50-day moving average of $109.26 and a 200 day moving average of $113.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79.

AAON declared that its Board of Directors has authorized a share buyback plan on Tuesday, March 4th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the construction company to buy up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are 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. This is an increase from AAON’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. AAON’s dividend payout ratio (DPR) is currently 19.90%.

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.