Summit Investment Advisors Inc. Sells 283 Shares of AAON, Inc. (NASDAQ:AAON)

Summit Investment Advisors Inc. reduced its position in shares of AAON, Inc. (NASDAQ:AAON) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,512 shares of the construction company’s stock after selling 283 shares during the quarter. Summit Investment Advisors Inc.’s holdings in AAON were worth $1,590,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of AAON by 28.4% in the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after purchasing an additional 84 shares during the period. Louisiana State Employees Retirement System raised its stake in AAON by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company’s stock valued at $2,201,000 after buying an additional 100 shares during the period. HUB Investment Partners LLC lifted its position in shares of AAON by 5.2% in the fourth quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company’s stock valued at $237,000 after buying an additional 100 shares during the last quarter. Smith Moore & CO. boosted its stake in shares of AAON by 3.1% during the 4th quarter. Smith Moore & CO. now owns 3,300 shares of the construction company’s stock worth $388,000 after acquiring an additional 100 shares during the period. Finally, Conway Capital Management Inc. increased its holdings in shares of AAON by 4.0% during the 4th quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company’s stock worth $306,000 after acquiring an additional 101 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. DA Davidson reduced their price objective on shares of AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Robert W. Baird reduced their target price 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. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a research note 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 objective for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

AAON Trading Down 2.3 %

Shares of AAON stock opened at $82.09 on Wednesday. AAON, Inc. has a 52-week low of $68.98 and a 52-week high of $144.07. The stock has a market cap of $6.70 billion, a PE ratio of 36.16 and a beta of 0.96. The firm has a 50-day moving average of $88.74 and a 200-day moving average of $110.70. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Tuesday, March 18th. This is a positive change from AAON’s previous quarterly dividend of $0.08. AAON’s dividend payout ratio is presently 19.90%.

AAON announced that its board has authorized a stock buyback program on Tuesday, March 4th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the construction company to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at AAON

In related news, Director David Raymond Stewart bought 1,000 shares of AAON stock in a transaction dated 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 acquisition, the director now owns 3,000 shares in the company, valued at $242,580. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 18.55% of the company’s stock.

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.