Alyeska Investment Group L.P. Invests $42.45 Million in AAON, Inc. (NASDAQ:AAON)

Alyeska Investment Group L.P. acquired a new position in AAON, Inc. (NASDAQ:AAON - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 360,714 shares of the construction company's stock, valued at approximately $42,449,000. Alyeska Investment Group L.P. owned about 0.44% of AAON at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AAON. PNC Financial Services Group Inc. increased its holdings in shares of AAON by 6.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company's stock worth $455,000 after buying an additional 244 shares during the last quarter. Avior Wealth Management LLC grew its position in AAON by 5,040.4% in the fourth quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company's stock worth $284,000 after acquiring an additional 2,369 shares in the last quarter. SG Americas Securities LLC increased its stake in AAON by 691.1% in the fourth 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 during the last quarter. Caldwell Investment Management Ltd. bought a new position in AAON in the fourth quarter valued at $1,099,000. Finally, JPMorgan Chase & Co. raised its position in AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock valued at $351,615,000 after purchasing an additional 150,207 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Trading Up 0.2 %

AAON traded up $0.18 during trading on Friday, hitting $99.61. 326,583 shares of the stock traded hands, compared to its average volume of 670,384. The firm has a market capitalization of $8.10 billion, a P/E ratio of 43.88 and a beta of 1.06. The firm has a 50-day moving average of $83.17 and a 200 day moving average of $108.13. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON, Inc. has a 12-month low of $68.98 and a 12-month high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.13. AAON had a return on equity of 24.98% and a net margin of 15.78%. The business had revenue of $322.05 million during the quarter, compared to analysts' expectations of $289.16 million. During the same quarter last year, the business posted $0.46 EPS. The business's revenue was up 22.9% on a year-over-year basis. Equities research analysts anticipate that AAON, Inc. will post 2.26 EPS for the current year.

AAON Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 18th. This is a positive change from AAON's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.40%. AAON's dividend payout ratio is 21.05%.

AAON announced that its board has authorized a share buyback program on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

AAON has been the topic of several recent research reports. CJS Securities upgraded AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research 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 on the stock in a research report on Friday, February 28th. DA Davidson lowered their price objective on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AAON currently has an average rating of "Moderate Buy" and a consensus price target of $115.50.

Insider Transactions at AAON

In other AAON news, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $98.66, for a total transaction of $824,501.62. Following the sale, the chief executive officer now directly owns 26,491 shares of the company's stock, valued at approximately $2,613,602.06. The trade was a 23.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Raymond Stewart bought 1,000 shares of AAON stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. This trade represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 18.70% of the company's stock.

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.