Summit Investment Advisors Inc. Sells 283 Shares of AAON, Inc. (NASDAQ:AAON)

Summit Investment Advisors Inc. decreased its holdings in AAON, Inc. (NASDAQ:AAON) by 2.1% during the 4th quarter, HoldingsChannel reports. The firm owned 13,512 shares of the construction company’s stock after selling 283 shares during the quarter. Summit Investment Advisors Inc.’s holdings in AAON were worth $1,590,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AAON. Mather Group LLC. grew its position in AAON by 521.6% in the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after acquiring an additional 193 shares during the last quarter. Twin Tree Management LP acquired a new stake in shares of AAON in the 4th quarter valued at approximately $33,000. UMB Bank n.a. grew its holdings in shares of 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 purchasing an additional 131 shares during the last quarter. Westside Investment Management Inc. acquired a new position in AAON during the 3rd quarter worth approximately $36,000. Finally, Empowered Funds LLC bought a new position in AAON in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director David Raymond Stewart purchased 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $242,580. The trade was a 50.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AAON. Robert W. Baird decreased their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. StockNews.com cut AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. DA Davidson dropped their target price on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, 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. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $115.50.

AAON Trading Down 2.3 %

NASDAQ AAON opened at $82.09 on Wednesday. The firm has a market capitalization of $6.70 billion, a PE ratio of 36.16 and a beta of 0.96. The business’s 50-day moving average price is $88.74 and its two-hundred day moving average price is $110.70. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07.

AAON announced that its Board of Directors has approved a stock repurchase plan 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 plans are often an indication that the company’s board of directors 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 given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Tuesday, March 18th. This is an increase from AAON’s previous quarterly dividend of $0.08. AAON’s dividend payout ratio 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.