Daiwa Securities Group Inc. Reduces Position in AAON, Inc. (NASDAQ:AAON)

Daiwa Securities Group Inc. decreased its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 44.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,309 shares of the construction company's stock after selling 43,257 shares during the period. Daiwa Securities Group Inc. owned 0.07% of AAON worth $6,273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AAON. Axxcess Wealth Management LLC bought a new position in AAON in the 3rd quarter worth approximately $361,000. Crossmark Global Holdings Inc. lifted its position in shares of AAON by 8.6% during the third quarter. Crossmark Global Holdings Inc. now owns 4,672 shares of the construction company's stock worth $504,000 after acquiring an additional 369 shares in the last quarter. Aptus Capital Advisors LLC bought a new position in shares of AAON in the third quarter worth $2,284,000. Victory Capital Management Inc. grew its position in shares of AAON by 75.7% in the third quarter. Victory Capital Management Inc. now owns 344,620 shares of the construction company's stock valued at $37,164,000 after purchasing an additional 148,507 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of AAON by 122.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 16,476 shares of the construction company's stock valued at $1,777,000 after purchasing an additional 9,063 shares during the period. Institutional investors own 70.81% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AAON shares. CJS Securities upgraded 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. Robert W. Baird cut their price objective on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. DA Davidson decreased their target price 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, StockNews.com cut shares of AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $115.50.

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Insider Activity

In other AAON news, VP Stephen E. Wakefield sold 5,362 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $130.99, for a total transaction of $702,368.38. Following the sale, the vice president now owns 4,558 shares in the company, valued at $597,052.42. This trade represents a 54.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 18.55% of the company's stock.

AAON Stock Down 1.0 %

Shares of NASDAQ AAON opened at $81.55 on Thursday. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $110.78 and a 200-day moving average of $113.79. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 35.93 and a beta of 1.00. AAON, Inc. has a 12 month low of $69.52 and a 12 month high of $144.07.

AAON Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be issued a $0.10 dividend. This is a positive change from AAON's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. AAON's dividend payout ratio is presently 19.90%.

AAON declared that its Board of Directors has authorized a share buyback plan on Tuesday, March 4th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

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.

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