Avantax Advisory Services Inc. Sells 267 Shares of AAON, Inc. (NASDAQ:AAON)

Avantax Advisory Services Inc. cut its position in AAON, Inc. (NASDAQ:AAON) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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.

Several other hedge funds have also modified their holdings of AAON. Mather Group LLC. raised its stake in shares of AAON by 521.6% during the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock worth $27,000 after acquiring an additional 193 shares in the last quarter. Westside Investment Management Inc. purchased a new position in AAON in the third quarter worth $36,000. UMB Bank n.a. increased its position in shares of AAON by 67.5% during the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after purchasing an additional 131 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of AAON by 28.4% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after purchasing an additional 84 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of AAON in the 4th quarter worth $42,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AAON

In related news, Director David Raymond Stewart purchased 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $80.86 per share, with a total value of $80,860.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com lowered AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. 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 report on Friday, February 28th. CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Friday, February 28th. Finally, Robert W. Baird cut their price target 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 analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $115.50.

AAON Price Performance

Shares of NASDAQ AAON opened at $82.76 on Tuesday. AAON, Inc. has a 52 week low of $69.52 and a 52 week high of $144.07. The business’s 50 day moving average price is $108.51 and its 200 day moving average price is $113.52. 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 firm has a market cap of $6.75 billion, a P/E ratio of 36.46 and a beta of 1.00.

AAON declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 4th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

AAON Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.48%. This is a positive change from AAON’s previous quarterly dividend of $0.08. AAON’s dividend payout ratio is presently 19.90%.

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.