Wells Fargo & Company MN Has $34.11 Million Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Wells Fargo & Company MN decreased its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 21.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,830 shares of the construction company's stock after selling 77,057 shares during the quarter. Wells Fargo & Company MN owned approximately 0.36% of AAON worth $34,107,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in AAON by 6.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company's stock valued at $455,000 after buying an additional 244 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of AAON by 5,040.4% in the 4th quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company's stock valued at $284,000 after acquiring an additional 2,369 shares during the last quarter. SG Americas Securities LLC raised its position in shares of AAON by 691.1% during the 4th quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company's stock valued at $2,903,000 after acquiring an additional 21,548 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in AAON by 39.1% in the third quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company's stock worth $31,121,000 after purchasing an additional 81,111 shares during the period. Finally, Wolverine Trading LLC acquired a new stake in shares of AAON during the third quarter worth $471,000. Institutional investors and hedge funds own 70.81% of the company's stock.

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AAON Stock Performance

AAON traded down $1.68 on Tuesday, hitting $82.33. The company had a trading volume of 352,677 shares, compared to its average volume of 720,714. AAON, Inc. has a 1-year low of $68.98 and a 1-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 company's fifty day moving average price is $88.74 and its 200 day moving average price is $110.70. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 36.27 and a beta of 0.96.

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 paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from AAON's previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.49%. AAON's dividend payout ratio (DPR) is presently 19.90%.

AAON declared that its Board of Directors has initiated a share buyback 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 often an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com downgraded AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Robert W. Baird reduced their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a report on Friday, February 28th. DA Davidson dropped 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. Finally, CJS Securities upgraded shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.50.

Insider Buying and Selling

In other news, Director David Raymond Stewart acquired 1,000 shares of AAON stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the transaction, the director now owns 3,000 shares of the company's stock, valued at $242,580. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 18.55% of the company's stock.

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.