Charles Schwab Investment Management Inc. Sells 15,613 Shares of AAON, Inc. (NASDAQ:AAON)

Charles Schwab Investment Management Inc. decreased its stake in shares of AAON, Inc. (NASDAQ:AAON) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 689,242 shares of the construction company’s stock after selling 15,613 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.85% of AAON worth $81,110,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AAON. Wasatch Advisors LP increased its stake in AAON by 39.1% in the third quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock valued at $201,310,000 after acquiring an additional 525,132 shares during the period. Franklin Resources Inc. increased its stake in AAON by 258.8% in the third quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company’s stock valued at $37,014,000 after acquiring an additional 238,308 shares during the period. FMR LLC increased its stake in AAON by 9.6% in the third quarter. FMR LLC now owns 1,729,498 shares of the construction company’s stock valued at $186,509,000 after acquiring an additional 151,540 shares during the period. JPMorgan Chase & Co. increased its stake in AAON by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock valued at $351,615,000 after acquiring an additional 150,207 shares during the period. Finally, Victory Capital Management Inc. increased its stake in AAON by 75.7% in the third quarter. Victory Capital Management Inc. now owns 344,620 shares of the construction company’s stock valued at $37,164,000 after acquiring an additional 148,507 shares during the period. Institutional investors own 70.81% of the company’s stock.

Insider Transactions at AAON

In related news, VP Stephen E. Wakefield sold 5,362 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $130.99, for a total transaction of $702,368.38. Following the completion of the sale, the vice president now directly owns 4,558 shares of the company’s stock, valued at $597,052.42. The trade was a 54.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 18.55% of the stock is owned by company insiders.

AAON Price Performance

NASDAQ:AAON opened at $79.79 on Tuesday. AAON, Inc. has a 12 month low of $69.52 and a 12 month high of $144.07. The company’s 50-day moving average price is $112.28 and its two-hundred day moving average price is $113.97. The firm has a market cap of $6.51 billion, a PE ratio of 35.15 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 announced that its Board of Directors has approved a stock buyback plan 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 plans are usually a sign that the company’s board believes its shares are undervalued.

AAON Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. 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. AAON’s dividend payout ratio is presently 15.92%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AAON shares. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Friday, February 28th. DA Davidson reduced their price target on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Robert W. Baird reduced their price target 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. Finally, StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AAON has an average rating of “Moderate Buy” and an average price target 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.