JPMorgan Chase & Co. Has $351.18 Million Stake in AAON, Inc. (NASDAQ:AAON)

JPMorgan Chase & Co. decreased its holdings in AAON, Inc. (NASDAQ:AAON) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,984,178 shares of the construction company’s stock after selling 276,348 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.67% of AAON worth $351,178,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after buying an additional 84 shares during the last quarter. Captrust Financial Advisors increased its position in AAON by 1.0% in the 3rd quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock valued at $949,000 after acquiring an additional 89 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of AAON by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company’s stock worth $2,201,000 after acquiring an additional 100 shares during the last quarter. HUB Investment Partners LLC lifted its position in shares of AAON by 5.2% during the fourth quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company’s stock worth $237,000 after purchasing an additional 100 shares in the last quarter. Finally, Conway Capital Management Inc. grew its stake in shares of AAON by 4.0% during the fourth quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company’s stock valued at $306,000 after purchasing an additional 101 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Stock Down 2.7 %

NASDAQ:AAON opened at $78.08 on Monday. AAON, Inc. has a 12-month low of $69.52 and a 12-month high of $144.07. The stock’s fifty day simple moving average is $99.75 and its 200-day simple moving average is $112.70. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.37 billion, a P/E ratio of 34.40 and a beta of 1.00.

AAON declared that its board has authorized a stock buyback 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 reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

AAON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. This is a boost from AAON’s previous quarterly dividend of $0.08. AAON’s payout ratio is currently 19.90%.

Insider Buying and Selling at AAON

In other AAON news, Director David Raymond Stewart bought 1,000 shares of AAON stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the acquisition, the director now owns 3,000 shares in the company, 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 at the SEC website. Insiders own 18.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AAON shares. 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. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Friday, February 28th. StockNews.com lowered AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, DA Davidson lowered their price objective 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 investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.50.

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.