HBK Sorce Advisory LLC Sells 133 Shares of AAON, Inc. (NASDAQ:AAON)

HBK Sorce Advisory LLC lowered its position in shares of AAON, Inc. (NASDAQ:AAON) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Avior Wealth Management LLC increased its position in shares of AAON by 5,040.4% during the fourth quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company’s stock valued at $284,000 after acquiring an additional 2,369 shares in the last quarter. SG Americas Securities LLC boosted its holdings in AAON by 691.1% in the fourth quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company’s stock worth $2,903,000 after purchasing an additional 21,548 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in AAON by 39.1% in the third quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company’s stock worth $31,121,000 after purchasing an additional 81,111 shares during the last quarter. Wolverine Trading LLC purchased a new stake in AAON in the third quarter worth approximately $471,000. Finally, Caldwell Investment Management Ltd. purchased a new stake in AAON in the fourth quarter worth approximately $1,099,000. Institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

AAON has been the topic of several research reports. CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Friday, February 28th. StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating 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 on the stock in a report on Friday, February 28th. Finally, Robert W. Baird dropped their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Activity

In other news, Director David Raymond Stewart acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the transaction, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 18.55% of the company’s stock.

AAON Trading Up 4.9 %

Shares of AAON stock opened at $82.14 on Friday. The company’s fifty day simple moving average is $109.26 and its 200-day simple moving average is $113.32. The stock has a market capitalization of $6.70 billion, a PE ratio of 36.19 and a beta of 1.00. AAON, Inc. has a 1-year low of $69.52 and a 1-year high of $144.07. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Tuesday, March 18th. This is a boost from AAON’s previous quarterly dividend of $0.08. AAON’s dividend payout ratio (DPR) is currently 19.90%.

AAON announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 4th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.