PNC Financial Services Group Inc. Acquires 244 Shares of AAON, Inc. (NASDAQ:AAON)

PNC Financial Services Group Inc. raised its holdings in AAON, Inc. (NASDAQ:AAON) by 6.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,868 shares of the construction company’s stock after acquiring an additional 244 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AAON were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mather Group LLC. grew its position in shares of AAON by 521.6% during the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock worth $27,000 after buying an additional 193 shares in the last quarter. Westside Investment Management Inc. bought a new position in shares of AAON during the 3rd quarter worth $36,000. UMB Bank n.a. grew its position in shares of AAON by 67.5% during 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 in the last quarter. Blue Trust Inc. grew 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 worth $41,000 after buying an additional 84 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of AAON during the 4th quarter worth $42,000. Institutional investors own 70.81% of the company’s stock.

AAON Trading Up 2.1 %

AAON stock opened at $81.48 on Thursday. The stock has a 50-day moving average of $106.90 and a two-hundred day moving average of $113.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. AAON, Inc. has a one year low of $69.52 and a one year high of $144.07. The stock has a market cap of $6.65 billion, a PE ratio of 35.89 and a beta of 1.00.

AAON announced that its board has approved a share repurchase plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically 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. Shareholders of record on Tuesday, March 18th will be paid a $0.10 dividend. The ex-dividend date is 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 yield of 0.49%. AAON’s dividend payout ratio (DPR) is 19.90%.

Insider Buying and Selling at AAON

In other AAON news, Director David Raymond Stewart purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the purchase, the director now owns 3,000 shares in the company, valued at $242,580. This represents a 50.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on AAON. StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. DA Davidson decreased their price objective on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 28th. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Friday, February 28th. Finally, Robert W. Baird decreased their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.50.

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.