Cynosure Group LLC Sells 2,010 Shares of AAON, Inc. (NASDAQ:AAON)

Cynosure Group LLC lowered its stake in AAON, Inc. (NASDAQ:AAON) by 27.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,224 shares of the construction company’s stock after selling 2,010 shares during the quarter. Cynosure Group LLC’s holdings in AAON were worth $615,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. grew its holdings in AAON by 521.6% during the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after buying an additional 193 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of AAON during the fourth quarter valued at about $33,000. Westside Investment Management Inc. purchased a new stake in shares of AAON in the third quarter worth about $36,000. UMB Bank n.a. boosted its stake in AAON by 67.5% during the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock valued at $38,000 after buying an additional 131 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in AAON by 28.4% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after buying an additional 84 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AAON shares. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Friday, February 28th. Robert W. Baird lowered their price objective 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. StockNews.com downgraded shares of AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Finally, DA Davidson lowered their price target 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. One 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $115.50.

Insider Buying and Selling

In related news, Director David Raymond Stewart bought 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $80.86 per share, with a total value of $80,860.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 18.55% of the stock is owned by corporate insiders.

AAON Price Performance

AAON stock opened at $79.16 on Wednesday. The stock has a market cap of $6.46 billion, a PE ratio of 34.87 and a beta of 1.00. AAON, Inc. has a 12 month low of $69.52 and a 12 month high of $144.07. The company has a 50-day moving average price of $98.71 and a 200 day moving average price of $112.74. 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 announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.10 per share. This is a boost from AAON’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.51%. AAON’s dividend payout ratio is currently 19.90%.

AAON declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.