AAON, Inc. (NASDAQ:AAON) Shares Sold by Lindenwold Advisors INC

Lindenwold Advisors INC lessened its stake in AAON, Inc. (NASDAQ:AAON) by 12.8% during the fourth quarter, Holdings Channel reports. The firm owned 3,165 shares of the construction company’s stock after selling 463 shares during the period. Lindenwold Advisors INC’s holdings in AAON were worth $372,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Avior Wealth Management LLC boosted its holdings in AAON by 5,040.4% in 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 during the last quarter. SG Americas Securities LLC grew its holdings in shares of AAON by 691.1% during the 4th 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 period. Lord Abbett & CO. LLC grew its holdings in shares of AAON by 39.1% during the 3rd 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 period. Wolverine Trading LLC acquired a new stake in AAON during the 3rd quarter worth approximately $471,000. Finally, Caldwell Investment Management Ltd. purchased a new position in AAON in the fourth quarter valued at approximately $1,099,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director David Raymond Stewart purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the purchase, the director now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 18.55% of the company’s stock.

AAON Stock Down 3.6 %

Shares of NASDAQ AAON opened at $79.80 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. AAON, Inc. has a 1 year low of $69.52 and a 1 year high of $144.07. The stock’s 50-day simple moving average is $106.90 and its 200-day simple moving average is $113.34. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 35.15 and a beta of 1.00.

AAON declared that its Board of Directors has approved a share buyback program on Tuesday, March 4th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

AAON Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.10 per share. The ex-dividend date is 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 0.50%. AAON’s payout ratio is currently 19.90%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AAON. Robert W. Baird dropped their price objective on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a report 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, DA Davidson decreased 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. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.50.

AAON 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.