Baird Financial Group Inc. boosted its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 43.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 520,857 shares of the construction company's stock after purchasing an additional 157,800 shares during the period. Baird Financial Group Inc. owned about 0.64% of AAON worth $61,294,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in AAON by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company's stock worth $734,262,000 after acquiring an additional 75,832 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of AAON by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock worth $351,615,000 after purchasing an additional 150,207 shares during the last quarter. Invesco Ltd. boosted its position in shares of AAON by 15.6% during the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock worth $239,184,000 after purchasing an additional 274,119 shares in the last quarter. Geode Capital Management LLC lifted its stake in AAON by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company's stock valued at $145,692,000 after buying an additional 3,644 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in AAON by 4.2% in the 4th quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company's stock worth $137,660,000 after purchasing an additional 47,254 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
AAON has been the topic of a number of analyst reports. StockNews.com cut AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Robert W. Baird lowered their price objective on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. CJS Securities raised AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a research report on Friday, February 28th. Finally, DA Davidson reduced their price objective on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AAON currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.50.
Check Out Our Latest Stock Analysis on AAON
AAON Price Performance
AAON stock traded up $0.89 during mid-day trading on Friday, hitting $100.32. The stock had a trading volume of 580,830 shares, compared to its average volume of 671,661. AAON, Inc. has a 52 week low of $68.98 and a 52 week high of $144.07. The firm has a fifty day simple moving average of $83.67 and a 200 day simple moving average of $108.09. 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 firm has a market capitalization of $8.16 billion, a P/E ratio of 44.19 and a beta of 1.06.
AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, beating 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 company had revenue of $322.05 million during the quarter, compared to analysts' expectations of $289.16 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The business's quarterly revenue was up 22.9% on a year-over-year basis. As a group, research analysts forecast that AAON, Inc. will post 2.26 EPS for the current year.
AAON Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were issued a $0.10 dividend. This is an increase from AAON's previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Tuesday, March 18th. AAON's payout ratio is presently 21.05%.
AAON declared that its board has authorized a stock repurchase program on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.
Insiders Place Their Bets
In other AAON news, CEO Gary D. Fields sold 8,357 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $98.66, for a total transaction of $824,501.62. Following the completion of the sale, the chief executive officer now owns 26,491 shares in the company, valued at approximately $2,613,602.06. The trade was a 23.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Raymond Stewart bought 1,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $80.86 per share, with a total value of $80,860.00. Following the completion of the transaction, the director now owns 3,000 shares of the company's stock, valued at $242,580. This represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 18.70% of the company's stock.
About AAON
(
Free Report)
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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