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

Polen Capital Management LLC cut its stake in shares of AAON, Inc. (NASDAQ:AAON) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,557 shares of the construction company’s stock after selling 1,371 shares during the quarter. Polen Capital Management LLC’s holdings in AAON were worth $3,714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Twin Tree Management LP acquired a new position in shares of AAON during the 4th quarter worth $33,000. Envestnet Portfolio Solutions Inc. grew its stake in AAON by 42.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,876 shares of the construction company’s stock valued at $338,000 after acquiring an additional 861 shares during the last quarter. Swiss National Bank grew its stake in AAON by 0.9% in the 4th quarter. Swiss National Bank now owns 135,425 shares of the construction company’s stock valued at $15,937,000 after acquiring an additional 1,200 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in AAON by 51.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,876 shares of the construction company’s stock valued at $8,811,000 after acquiring an additional 25,476 shares during the last quarter. Finally, PFG Advisors acquired a new stake in AAON in the 4th quarter valued at about $1,141,000. 70.81% of the stock is owned by institutional investors and hedge funds.

AAON Trading Up 4.9 %

Shares of AAON stock opened at $82.14 on Monday. The firm has a market cap of $6.70 billion, a P/E ratio of 36.19 and a beta of 1.00. AAON, Inc. has a 1-year low of $69.52 and a 1-year high of $144.07. 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 firm’s 50-day simple moving average is $108.51 and its 200-day simple moving average is $113.52.

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

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 issued a $0.10 dividend. This is a positive change 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 (DPR) is presently 19.90%.

Insider Activity at AAON

In other news, Director David Raymond Stewart acquired 1,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 18.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. 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 note on Friday, February 28th. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a 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 on the stock in a report on Friday, February 28th. Finally, DA Davidson cut their price objective on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has issued 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, AAON presently has a consensus rating of “Moderate Buy” and an average target price of $115.50.

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.