11 Capital Partners LP Purchases 20,600 Shares of AAON, Inc. (NASDAQ:AAON)

11 Capital Partners LP lifted its position in AAON, Inc. (NASDAQ:AAON) by 264.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,400 shares of the construction company’s stock after acquiring an additional 20,600 shares during the quarter. AAON accounts for approximately 1.3% of 11 Capital Partners LP’s investment portfolio, making the stock its 16th largest holding. 11 Capital Partners LP’s holdings in AAON were worth $3,342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AAON. Vanguard Group Inc. increased its stake in AAON by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company’s stock valued at $734,262,000 after purchasing an additional 75,832 shares in the last quarter. JPMorgan Chase & Co. increased its stake in AAON by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock valued at $351,615,000 after purchasing an additional 150,207 shares in the last quarter. Invesco Ltd. increased its stake in AAON by 15.6% during the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company’s stock valued at $239,184,000 after purchasing an additional 274,119 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AAON by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company’s stock worth $145,692,000 after acquiring an additional 3,644 shares during the period. Finally, Blair William & Co. IL increased its stake in shares of AAON by 4.2% in the fourth quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company’s stock worth $137,660,000 after acquiring an additional 47,254 shares during the period. 70.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AAON has been the topic of a number of research reports. DA Davidson cut their price objective on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Friday, February 28th. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a research note 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 note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $115.50.

AAON Stock Performance

AAON opened at $88.79 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The company has a market cap of $7.22 billion, a price-to-earnings ratio of 39.11 and a beta of 0.96. AAON, Inc. has a 52-week low of $68.98 and a 52-week high of $144.07. The firm’s fifty day simple moving average is $82.73 and its two-hundred day simple moving average is $108.92.

AAON Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.45%. This is an increase from AAON’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 18th. AAON’s dividend payout ratio (DPR) is presently 19.90%.

AAON announced that its Board of Directors has approved a share buyback plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at AAON

In other AAON news, Director David Raymond Stewart bought 1,000 shares of AAON stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $242,580. This represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 18.55% of the company’s stock.

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.