Grantham Mayo Van Otterloo & Co. LLC Sells 183,526 Shares of AAON, Inc. (NASDAQ:AAON)

Grantham Mayo Van Otterloo & Co. LLC reduced its stake in AAON, Inc. (NASDAQ:AAON) by 46.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,869 shares of the construction company’s stock after selling 183,526 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in AAON were worth $25,168,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AAON. BNP Paribas Financial Markets increased its stake in shares of AAON by 99.2% during the third quarter. BNP Paribas Financial Markets now owns 10,305 shares of the construction company’s stock worth $1,111,000 after purchasing an additional 5,133 shares during the period. Captrust Financial Advisors increased its position in AAON by 1.0% during the 3rd quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock worth $949,000 after buying an additional 89 shares during the period. HighTower Advisors LLC increased its position in AAON by 46.6% during the 3rd quarter. HighTower Advisors LLC now owns 13,043 shares of the construction company’s stock worth $1,408,000 after buying an additional 4,146 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of AAON by 3.1% during the third quarter. Quantinno Capital Management LP now owns 6,486 shares of the construction company’s stock worth $699,000 after buying an additional 192 shares in the last quarter. Finally, State Street Corp boosted its position in shares of AAON by 0.6% in the third quarter. State Street Corp now owns 1,977,531 shares of the construction company’s stock valued at $213,257,000 after acquiring an additional 12,502 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David Raymond Stewart acquired 1,000 shares of the company’s stock in a transaction that occurred 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 purchase, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 18.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AAON shares. DA Davidson dropped their price objective on shares of AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Robert W. Baird cut their price target on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Friday, February 28th. Finally, StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AAON has a consensus rating of “Moderate Buy” and an average price target of $115.50.

AAON Stock Down 4.2 %

Shares of AAON opened at $74.20 on Friday. The firm has a 50 day simple moving average of $94.25 and a two-hundred day simple moving average of $112.03. 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, Inc. has a one year low of $69.52 and a one year high of $144.07. The company has a market cap of $6.05 billion, a P/E ratio of 32.69 and a beta of 0.96.

AAON declared that its Board of Directors has initiated a stock 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 purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

AAON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. This is a boost from AAON’s previous quarterly dividend of $0.08. AAON’s payout ratio is 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.