AAON, Inc. (NASDAQ:AAON) Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC lowered its holdings in AAON, Inc. (NASDAQ:AAON) by 4.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,557 shares of the construction company’s stock after selling 1,371 shares during the period. Polen Capital Management LLC’s holdings in AAON were worth $3,714,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AAON. Crossmark Global Holdings Inc. grew its holdings in shares of AAON by 8.6% in the third quarter. Crossmark Global Holdings Inc. now owns 4,672 shares of the construction company’s stock valued at $504,000 after purchasing an additional 369 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of AAON by 75.7% in the third quarter. Victory Capital Management Inc. now owns 344,620 shares of the construction company’s stock valued at $37,164,000 after purchasing an additional 148,507 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of AAON by 122.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,476 shares of the construction company’s stock valued at $1,777,000 after purchasing an additional 9,063 shares in the last quarter. KBC Group NV grew its holdings in shares of AAON by 15.5% in the third quarter. KBC Group NV now owns 1,892 shares of the construction company’s stock valued at $204,000 after purchasing an additional 254 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of AAON in the third quarter valued at approximately $252,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Stock Up 4.9 %

Shares of NASDAQ:AAON opened at $82.14 on Monday. The company has a market capitalization of $6.70 billion, a PE ratio of 36.19 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. AAON, Inc. has a twelve month low of $69.52 and a twelve month high of $144.07. The firm has a 50 day simple moving average of $108.51 and a 200-day simple moving average of $113.52.

AAON Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be given a $0.10 dividend. This is an increase from AAON’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.49%. AAON’s dividend payout ratio is 19.90%.

AAON declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in 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 report on Friday, February 28th. DA Davidson lowered their price target on shares of AAON from $150.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 28th. StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Finally, CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AAON presently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

Insider Activity at AAON

In other news, Director David Raymond Stewart acquired 1,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $80.86 per share, with a total value of $80,860.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at $242,580. This represents a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 18.55% of the stock is owned by insiders.

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.