Congress Wealth Management LLC DE Sells 325 Shares of AAON, Inc. (NASDAQ:AAON)

Congress Wealth Management LLC DE lessened its holdings in AAON, Inc. (NASDAQ:AAON) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,453 shares of the construction company’s stock after selling 325 shares during the quarter. Congress Wealth Management LLC DE’s holdings in AAON were worth $289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AAON. Advisors Asset Management Inc. boosted its holdings in AAON by 208.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 730 shares of the construction company’s stock valued at $79,000 after purchasing an additional 493 shares during the period. Intech Investment Management LLC acquired a new stake in shares of AAON in the third quarter valued at approximately $537,000. FMR LLC boosted its stake in shares of 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 buying an additional 151,540 shares during the period. BNP Paribas Financial Markets grew its position in AAON by 99.2% during the third quarter. BNP Paribas Financial Markets now owns 10,305 shares of the construction company’s stock worth $1,111,000 after buying an additional 5,133 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in AAON by 1.0% during the 3rd quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock worth $949,000 after acquiring an additional 89 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AAON. DA Davidson cut their target price on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 28th. StockNews.com cut AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Robert W. Baird reduced their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Finally, CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Friday, February 28th. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, AAON has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Buying and Selling

In other AAON news, Director David Raymond Stewart bought 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $80.86 per share, for a total transaction of $80,860.00. Following 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.55% of the stock is owned by company insiders.

AAON Stock Performance

Shares of AAON stock opened at $78.08 on Friday. The business has a 50-day simple moving average of $99.75 and a 200 day simple moving average of $112.70. AAON, Inc. has a one year low of $69.52 and a one year high of $144.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 34.40 and a beta of 1.00.

AAON Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.51%. This is a positive change from AAON’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 18th. AAON’s dividend payout ratio is presently 19.90%.

AAON announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.