Gitterman Wealth Management LLC Sells 1,000 Shares of AAON, Inc. (NASDAQ:AAON)

Gitterman Wealth Management LLC lowered its stake in shares of AAON, Inc. (NASDAQ:AAON) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,000 shares of the construction company’s stock after selling 1,000 shares during the period. AAON makes up 0.4% of Gitterman Wealth Management LLC’s portfolio, making the stock its 17th biggest position. Gitterman Wealth Management LLC’s holdings in AAON were worth $941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in AAON by 42.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,876 shares of the construction company’s stock worth $338,000 after buying an additional 861 shares during the last quarter. Swiss National Bank lifted its holdings in shares of AAON by 0.9% during the 4th quarter. Swiss National Bank now owns 135,425 shares of the construction company’s stock valued at $15,937,000 after purchasing an additional 1,200 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position 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 buying an additional 25,476 shares during the last quarter. PFG Advisors acquired a new stake in AAON in the 4th quarter valued at approximately $1,141,000. Finally, HighTower Advisors LLC raised its position in AAON by 2.2% in the 4th quarter. HighTower Advisors LLC now owns 13,328 shares of the construction company’s stock valued at $1,568,000 after buying an additional 285 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. 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 research report on Friday, February 28th. StockNews.com lowered AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. DA Davidson lowered their price target on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Robert W. Baird lowered their price target on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AAON currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

AAON Stock Up 4.9 %

AAON stock opened at $82.14 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.70 billion, a PE 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 business’s 50 day simple moving average is $108.51 and its 200 day simple moving average is $113.38.

AAON Increases Dividend

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

AAON announced that its board has authorized a share repurchase plan on Tuesday, March 4th that authorizes the company to buyback $30.00 million in 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 often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director David Raymond Stewart purchased 1,000 shares of AAON stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at $242,580. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 18.55% of the stock is owned by insiders.

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.