AAON, Inc. (NASDAQ:AAON) is Geneva Capital Management LLC’s 3rd Largest Position

Geneva Capital Management LLC cut its holdings in AAON, Inc. (NASDAQ:AAON) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,677,914 shares of the construction company’s stock after selling 20,293 shares during the quarter. AAON comprises 3.4% of Geneva Capital Management LLC’s holdings, making the stock its 3rd largest position. Geneva Capital Management LLC owned 2.06% of AAON worth $197,457,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. raised its stake in shares of AAON by 521.6% in the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock worth $27,000 after purchasing an additional 193 shares during the last quarter. Westside Investment Management Inc. purchased a new position in shares of AAON in the third quarter worth about $36,000. UMB Bank n.a. raised its stake in shares of AAON by 67.5% in the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after purchasing an additional 131 shares during the last quarter. Blue Trust Inc. raised its stake in shares of AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock worth $41,000 after purchasing an additional 84 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of AAON in the fourth quarter worth about $42,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

AAON Stock Up 8.9 %

Shares of AAON opened at $81.94 on Thursday. 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, Inc. has a 12 month low of $69.52 and a 12 month high of $144.07. The stock’s 50 day moving average is $114.73 and its two-hundred day moving average is $114.16. The firm has a market cap of $6.66 billion, a P/E ratio of 36.10 and a beta of 0.87.

AAON announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management 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 $0.10 dividend. This is a positive change 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 presently 15.92%.

Insider Buying and Selling at AAON

In other AAON news, VP Stephen E. Wakefield sold 5,362 shares of the firm’s stock in a transaction that occurred 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 directly owns 4,558 shares of the company’s stock, valued at approximately $597,052.42. This trade represents a 54.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AAON has been the subject of several recent research reports. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Friday, February 28th. Robert W. Baird reduced their price target on 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 cut AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Finally, DA Davidson reduced their price target 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 assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

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.