Treasurer of the State of North Carolina Sells 210 Shares of AAON, Inc. (NASDAQ:AAON)

Treasurer of the State of North Carolina decreased its stake in shares of AAON, Inc. (NASDAQ:AAON) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,630 shares of the construction company’s stock after selling 210 shares during the period. Treasurer of the State of North Carolina’s holdings in AAON were worth $3,487,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Orion Portfolio Solutions LLC bought a new stake in shares of AAON in the 3rd quarter worth $213,000. Barclays PLC boosted its holdings in AAON by 182.2% during the third quarter. Barclays PLC now owns 84,472 shares of the construction company’s stock worth $9,111,000 after purchasing an additional 54,535 shares during the last quarter. Geode Capital Management LLC grew its position in AAON by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,234,036 shares of the construction company’s stock worth $133,110,000 after purchasing an additional 6,338 shares in the last quarter. Westside Investment Management Inc. purchased a new stake in AAON in the 3rd quarter valued at about $36,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of AAON during the 3rd quarter worth approximately $43,000. Institutional investors own 70.81% of the company’s stock.

AAON Price Performance

Shares of 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 company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $88.74 and a two-hundred day moving average price of $110.70. AAON, Inc. has a twelve month low of $68.98 and a twelve month high of $144.07.

AAON announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

AAON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 18th. This is an increase from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.49%. AAON’s dividend payout ratio (DPR) is 19.90%.

Insider Activity at AAON

In related news, Director David Raymond Stewart bought 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the purchase, the director now directly owns 3,000 shares in the company, valued at $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AAON has been the subject of several recent analyst reports. Robert W. Baird reduced their target price on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a report on Friday, February 28th. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Friday, February 28th. DA Davidson cut their price target on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, StockNews.com downgraded shares of AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $115.50.

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.