Congress Wealth Management LLC DE Lowers Stock Position in AAON, Inc. (NASDAQ:AAON)

Congress Wealth Management LLC DE cut its position in shares of AAON, Inc. (NASDAQ:AAON) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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.

A number of other institutional investors have also added to or reduced their stakes in AAON. Blue Trust Inc. boosted its stake in shares of AAON by 28.4% in the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock worth $41,000 after buying an additional 84 shares during the last quarter. Captrust Financial Advisors boosted its position in AAON by 1.0% in the third quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock worth $949,000 after purchasing an additional 89 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in AAON by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company’s stock valued at $2,201,000 after purchasing an additional 100 shares during the period. HUB Investment Partners LLC increased its position in shares of AAON by 5.2% during the 4th quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company’s stock valued at $237,000 after purchasing an additional 100 shares during the last quarter. Finally, Conway Capital Management Inc. raised its stake in shares of AAON by 4.0% during the 4th quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company’s stock worth $306,000 after purchasing an additional 101 shares during the period. 70.81% of the stock is owned by institutional investors.

AAON Price Performance

NASDAQ AAON opened at $78.08 on Friday. 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 company has a market cap of $6.37 billion, a PE ratio of 34.40 and a beta of 1.00. AAON, Inc. has a 52 week low of $69.52 and a 52 week high of $144.07. The firm’s 50-day simple moving average is $99.75 and its two-hundred day simple moving average is $112.70.

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

AAON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 18th. This is an increase from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.51%. AAON’s dividend payout ratio (DPR) is 19.90%.

Insider Activity at AAON

In related news, Director David Raymond Stewart bought 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the purchase, the director now directly owns 3,000 shares in the company, valued at $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AAON shares. StockNews.com downgraded shares of AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. DA Davidson dropped their target price on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Friday, February 28th. Finally, Robert W. Baird dropped 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. One investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

About AAON

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.