Huntington National Bank Raises Position in AAON, Inc. (NASDAQ:AAON)

Huntington National Bank lifted its position in AAON, Inc. (NASDAQ:AAON) by 100.0% in the 4th quarter, Holdings Channel reports. The fund owned 656 shares of the construction company’s stock after acquiring an additional 328 shares during the quarter. Huntington National Bank’s holdings in AAON were worth $77,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. raised its holdings in AAON by 521.6% in the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock worth $27,000 after purchasing an additional 193 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of AAON in the 4th quarter worth about $33,000. Westside Investment Management Inc. bought a new position in shares of AAON in the 3rd quarter worth about $36,000. UMB Bank n.a. lifted its position in AAON by 67.5% during the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock valued at $38,000 after acquiring an additional 131 shares during the period. Finally, Blue Trust Inc. boosted its stake in AAON by 28.4% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock worth $41,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. DA Davidson lowered their target price 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. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Friday, February 28th. Robert W. Baird reduced their price target on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a 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 research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

AAON Stock Performance

Shares of AAON opened at $74.20 on Monday. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 32.69 and a beta of 0.96. The business’s fifty day simple moving average is $94.25 and its two-hundred day simple moving average is $112.25. AAON, Inc. has a 12 month low of $69.52 and a 12 month high of $144.07. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.54%. This is an increase from AAON’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 18th. AAON’s dividend payout ratio (DPR) is presently 19.90%.

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

Insiders Place Their Bets

In related news, Director David Raymond Stewart bought 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $80.86 per share, with a total value of $80,860.00. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $242,580. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a filing with the SEC, 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.