Axxcess Wealth Management LLC Raises Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Axxcess Wealth Management LLC grew its stake in shares of AAON, Inc. (NASDAQ:AAON) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,593 shares of the construction company’s stock after buying an additional 241 shares during the period. Axxcess Wealth Management LLC’s holdings in AAON were worth $423,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. CIBC Asset Management Inc purchased a new position in AAON during the third quarter valued at approximately $252,000. Pathstone Holdings LLC boosted its holdings in AAON by 72.4% in the 3rd quarter. Pathstone Holdings LLC now owns 16,356 shares of the construction company’s stock worth $1,764,000 after buying an additional 6,869 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in AAON in the 3rd quarter worth $1,285,000. Advisors Asset Management Inc. increased its stake in AAON by 208.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 730 shares of the construction company’s stock worth $79,000 after buying an additional 493 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of AAON in the third quarter valued at about $537,000. 70.81% of the stock is currently owned by institutional investors.

AAON Price Performance

AAON stock opened at $79.65 on Friday. AAON, Inc. has a 52-week low of $69.52 and a 52-week high of $144.07. 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’s fifty day moving average is $104.46 and its 200 day moving average is $112.77. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 35.09 and a beta of 1.00.

AAON declared that its board has approved a stock repurchase program on Tuesday, March 4th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

AAON Increases Dividend

The firm 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 is an increase from AAON’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. AAON’s dividend payout ratio (DPR) is presently 19.90%.

Insider Buying and Selling

In related news, Director David Raymond Stewart bought 1,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the acquisition, the director now 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 SEC, which is available at this hyperlink. 18.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.