California Public Employees Retirement System Purchases 3,166 Shares of AAON, Inc. (NASDAQ:AAON)

California Public Employees Retirement System grew its position in AAON, Inc. (NASDAQ:AAON) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,029 shares of the construction company’s stock after acquiring an additional 3,166 shares during the quarter. California Public Employees Retirement System owned 0.15% of AAON worth $14,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Mather Group LLC. increased its position 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 during the last quarter. Twin Tree Management LP bought a new position in AAON during the fourth quarter valued at $33,000. Westside Investment Management Inc. purchased a new position in shares of AAON in the 3rd quarter worth $36,000. UMB Bank n.a. increased its holdings in shares of AAON by 67.5% in the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after buying an additional 131 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of 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.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. DA Davidson dropped 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. 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 report on Friday, February 28th. Finally, Robert W. Baird cut their price objective on shares of 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 issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AAON presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Transactions at AAON

In related 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 cost of $80.86 per share, with a total value of $80,860.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. This represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 18.55% of the company’s stock.

AAON Price Performance

AAON opened at $74.20 on Friday. The business has a fifty day moving average of $94.25 and a 200 day moving average of $112.03. The stock has a market cap of $6.05 billion, a P/E ratio of 32.69 and a beta of 1.00. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. AAON, Inc. has a 52-week low of $69.52 and a 52-week high of $144.07.

AAON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 18th. This is a boost from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. AAON’s dividend payout ratio is presently 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.

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.