AAON, Inc. (NASDAQ:AAON) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lowered its position in AAON, Inc. (NASDAQ:AAON) by 1.7% in the fourth quarter, HoldingsChannel reports. The fund owned 15,499 shares of the construction company’s stock after selling 267 shares during the quarter. Avantax Advisory Services Inc.’s holdings in AAON were worth $1,824,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AAON. PFG Advisors acquired a new position in AAON in the 4th quarter worth about $1,141,000. HighTower Advisors LLC increased its position in shares of AAON by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 13,328 shares of the construction company’s stock valued at $1,568,000 after buying an additional 285 shares in the last quarter. Inspire Advisors LLC raised its stake in shares of AAON by 2.7% during the 4th quarter. Inspire Advisors LLC now owns 10,812 shares of the construction company’s stock worth $1,272,000 after buying an additional 286 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of AAON by 4.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,223 shares of the construction company’s stock valued at $1,438,000 after buying an additional 534 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in AAON by 6.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company’s stock valued at $455,000 after acquiring an additional 244 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

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

AAON Stock Up 0.8 %

Shares of NASDAQ AAON opened at $82.76 on Tuesday. The stock has a market cap of $6.75 billion, a PE ratio of 36.46 and a beta of 1.00. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. AAON, Inc. has a 12-month low of $69.52 and a 12-month high of $144.07. The company has a 50-day moving average of $108.51 and a 200 day moving average of $113.52.

AAON Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from AAON’s previous quarterly dividend of $0.08. AAON’s dividend payout ratio (DPR) is currently 19.90%.

AAON announced that its Board of Directors has initiated a share buyback program on Tuesday, March 4th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director David Raymond Stewart acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased 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 owns 3,000 shares in the company, valued at approximately $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 18.55% of the stock is currently owned by company 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.