Franklin Resources Inc. Has $40.70 Million Stake in AAON, Inc. (NASDAQ:AAON)

Franklin Resources Inc. raised its stake in AAON, Inc. (NASDAQ:AAON) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 345,821 shares of the construction company’s stock after purchasing an additional 15,424 shares during the quarter. Franklin Resources Inc.’s holdings in AAON were worth $40,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in AAON by 99.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,305 shares of the construction company’s stock valued at $1,111,000 after acquiring an additional 5,133 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of AAON by 1.0% during the third quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock valued at $949,000 after purchasing an additional 89 shares in the last quarter. HighTower Advisors LLC grew its position in AAON by 46.6% in the 3rd quarter. HighTower Advisors LLC now owns 13,043 shares of the construction company’s stock worth $1,408,000 after purchasing an additional 4,146 shares in the last quarter. Quantinno Capital Management LP increased its stake in AAON by 3.1% in the 3rd quarter. Quantinno Capital Management LP now owns 6,486 shares of the construction company’s stock valued at $699,000 after buying an additional 192 shares during the last quarter. Finally, State Street Corp lifted its position in shares of AAON by 0.6% during the 3rd quarter. State Street Corp now owns 1,977,531 shares of the construction company’s stock worth $213,257,000 after buying an additional 12,502 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Analyst Ratings Changes

AAON has been the subject of a number of research analyst reports. DA Davidson decreased 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. StockNews.com cut AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Robert W. Baird reduced their price target 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. Finally, CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.50.

AAON Stock Down 4.2 %

Shares of NASDAQ AAON opened at $74.20 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The stock has a market capitalization of $6.05 billion, a PE ratio of 32.69 and a beta of 1.00. AAON, Inc. has a one year low of $69.52 and a one year high of $144.07. The business’s fifty day moving average price is $94.25 and its 200-day moving average price is $112.03.

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 yield of 0.54%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from AAON’s previous quarterly dividend of $0.08. AAON’s dividend payout ratio (DPR) is currently 19.90%.

AAON announced that its board has initiated a share repurchase plan on Tuesday, March 4th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at AAON

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