US Bancorp DE Has $5.91 Million Holdings in AAON, Inc. (NASDAQ:AAON)

US Bancorp DE increased its stake in shares of AAON, Inc. (NASDAQ:AAON) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,259 shares of the construction company’s stock after acquiring an additional 1,785 shares during the period. US Bancorp DE owned about 0.06% of AAON worth $5,914,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. lifted its holdings in shares of AAON by 2.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 16,901 shares of the construction company’s stock valued at $1,989,000 after purchasing an additional 425 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in AAON in the 4th quarter valued at approximately $644,000. Amalgamated Bank lifted its stake in AAON by 0.7% in the 4th quarter. Amalgamated Bank now owns 34,957 shares of the construction company’s stock valued at $4,114,000 after acquiring an additional 237 shares in the last quarter. Colonial River Investments LLC boosted its position in AAON by 7.4% during the 4th quarter. Colonial River Investments LLC now owns 3,613 shares of the construction company’s stock worth $425,000 after acquiring an additional 249 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of AAON during the 4th quarter worth approximately $1,929,000. 70.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AAON shares. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Friday, February 28th. StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. DA Davidson reduced 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. Finally, Robert W. Baird lowered their target price on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AAON presently has an average rating of “Moderate Buy” and an average target price of $115.50.

AAON Stock Performance

NASDAQ AAON opened at $75.25 on Wednesday. The firm’s fifty day moving average price is $115.69 and its two-hundred day moving average price is $114.26. AAON, Inc. has a 1 year low of $69.52 and a 1 year high of $144.07. The firm has a market capitalization of $6.12 billion, a P/E ratio of 33.15 and a beta of 0.87. 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 announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the construction company to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, VP Stephen E. Wakefield sold 5,362 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $130.99, for a total value of $702,368.38. Following the sale, the vice president now owns 4,558 shares in the company, valued at approximately $597,052.42. This represents a 54.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rebecca Thompson sold 5,000 shares of AAON stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $138.00, for a total transaction of $690,000.00. Following the transaction, the chief financial officer now directly owns 17,297 shares of the company’s stock, valued at approximately $2,386,986. This trade represents a 22.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.55% of the stock is currently owned by corporate insiders.

About AAON

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.