Pictet Asset Management Holding SA Increases Stock Position in AAON, Inc. (NASDAQ:AAON)

Pictet Asset Management Holding SA boosted its holdings in AAON, Inc. (NASDAQ:AAON) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,037 shares of the construction company’s stock after purchasing an additional 936 shares during the quarter. Pictet Asset Management Holding SA’s holdings in AAON were worth $1,181,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AAON. Mather Group LLC. boosted its stake in shares of AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock worth $27,000 after buying an additional 193 shares during the period. Twin Tree Management LP acquired a new stake in shares of AAON in the 4th quarter worth $33,000. Westside Investment Management Inc. purchased a new stake in AAON in the 3rd quarter valued at approximately $36,000. UMB Bank n.a. boosted its stake in shares of AAON by 67.5% in 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 in the last quarter. Finally, Blue Trust Inc. grew its stake 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 purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Trading Down 4.2 %

Shares of AAON opened at $74.20 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON, Inc. has a 12 month low of $69.52 and a 12 month high of $144.07. The stock has a market cap of $6.05 billion, a PE ratio of 32.69 and a beta of 0.96. The stock’s 50-day moving average is $94.25 and its two-hundred day moving average is $112.03.

AAON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. This is a positive change from AAON’s previous quarterly dividend of $0.08. AAON’s payout ratio is currently 19.90%.

AAON declared that its Board of Directors has approved a stock repurchase program on Tuesday, March 4th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. DA Davidson dropped their target price 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. Robert W. Baird dropped their price objective on shares of AAON from $155.00 to $116.00 and set an “outperform” 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 target price on the stock in a report on Friday, February 28th. Finally, StockNews.com lowered AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Buying and Selling at AAON

In related news, Director David Raymond Stewart purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $80.86 per share, with a total value of $80,860.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $242,580. The trade was a 50.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.55% of the stock is currently owned by corporate insiders.

AAON 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.