AAON, Inc. (NASDAQ:AAON) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its stake in AAON, Inc. (NASDAQ:AAON) by 21.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 289,830 shares of the construction company’s stock after selling 77,057 shares during the period. Wells Fargo & Company MN owned 0.36% of AAON worth $34,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AAON. Mather Group LLC. boosted its stake in AAON by 521.6% in the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Twin Tree Management LP acquired a new position in AAON in the fourth quarter valued at approximately $33,000. Westside Investment Management Inc. acquired a new position in AAON in the third quarter valued at approximately $36,000. UMB Bank n.a. boosted its stake in 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 acquiring an additional 131 shares during the period. Finally, Blue Trust Inc. boosted its stake in AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after acquiring an additional 84 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Price Performance

Shares of NASDAQ:AAON opened at $80.42 on Friday. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 35.43 and a beta of 0.96. The stock’s 50 day moving average price is $89.90 and its 200 day moving average price is $110.99. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were issued a dividend of $0.10 per share. This is a boost from AAON’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.50%. AAON’s payout ratio is presently 19.90%.

AAON declared that its board has initiated a stock buyback program on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Robert W. Baird decreased their target price on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. StockNews.com cut AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. DA Davidson cut their price target on AAON from $150.00 to $125.00 and set a “buy” rating on the stock 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 report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $115.50.

Insider Buying and Selling

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 shares were purchased at an average price 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 $242,580. This represents a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.55% of the stock is owned by corporate insiders.

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.