Harvest Fund Management Co. Ltd Boosts Position in AAON, Inc. (NASDAQ:AAON)

Harvest Fund Management Co. Ltd increased its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,457 shares of the construction company’s stock after purchasing an additional 208 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in AAON were worth $174,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock worth $351,615,000 after purchasing an additional 150,207 shares during the last quarter. State Street Corp lifted its stake in AAON by 0.6% during the third quarter. State Street Corp now owns 1,977,531 shares of the construction company’s stock worth $213,257,000 after purchasing an additional 12,502 shares during the last quarter. Wasatch Advisors LP lifted its stake in AAON by 39.1% during the third quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock worth $201,310,000 after purchasing an additional 525,132 shares during the last quarter. FMR LLC lifted its stake in AAON by 9.6% during the third quarter. FMR LLC now owns 1,729,498 shares of the construction company’s stock worth $186,509,000 after purchasing an additional 151,540 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in AAON by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,234,036 shares of the construction company’s stock worth $133,110,000 after purchasing an additional 6,338 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AAON. DA Davidson cut their price target on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Friday, February 28th. Robert W. Baird cut their price target on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Finally, StockNews.com lowered AAON from a “hold” rating to a “sell” rating 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Activity

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $242,580. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 18.55% of the company’s stock.

AAON Trading Up 0.3 %

NASDAQ:AAON opened at $79.65 on Friday. The firm has a market cap of $6.50 billion, a P/E ratio of 35.09 and a beta of 1.00. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock’s 50 day simple moving average is $104.46 and its 200-day simple moving average is $112.93. AAON, Inc. has a 12-month low of $69.52 and a 12-month high of $144.07.

AAON Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. This is a positive change from AAON’s previous quarterly dividend of $0.08. AAON’s payout ratio is presently 19.90%.

AAON declared that its board has authorized a stock repurchase plan on Tuesday, March 4th that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.