3,111 Shares in AAON, Inc. $AAON Acquired by Verdence Capital Advisors LLC

Key Points

• Verdence Capital Advisors LLC has acquired a new position in AAON, Inc. by purchasing 3,111 shares, valued at approximately $229,000.
• A number of institutional investors have significantly increased their holdings in AAON, with PFG Advisors raising their stake by 114.8% in the first quarter.
• The company's stock has a consensus rating of "Moderate Buy" from analysts, with a recent price target lowered to $98.00 from $102.00 by Robert W. Baird.

Verdence Capital Advisors LLC acquired a new position in AAON, Inc. (NASDAQ:AAON - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,111 shares of the construction company's stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAON. PFG Advisors lifted its position in shares of AAON by 114.8% in the 1st quarter. PFG Advisors now owns 20,836 shares of the construction company's stock worth $1,628,000 after purchasing an additional 11,136 shares during the period. Teacher Retirement System of Texas acquired a new position in AAON in the first quarter valued at $789,000. Wealth Enhancement Advisory Services LLC lifted its holdings in AAON by 1,485.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,329 shares of the construction company's stock valued at $2,213,000 after buying an additional 26,542 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in AAON by 49.2% in the first quarter. Sequoia Financial Advisors LLC now owns 3,197 shares of the construction company's stock valued at $250,000 after buying an additional 1,054 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in AAON in the first quarter valued at $245,000. 70.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AAON shares. Robert W. Baird dropped their price objective on AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Wall Street Zen lowered AAON from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 17th. Zacks Research raised AAON from a "strong sell" rating to a "hold" rating in a research note on Monday. DA Davidson dropped their price target on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $104.00.

Insider Buying and Selling at AAON

In related news, CFO Rebecca Thompson sold 9,350 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $81.09, for a total value of $758,191.50. Following the sale, the chief financial officer owned 24,396 shares in the company, valued at $1,978,271.64. This represents a 27.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher Douglas Eason sold 12,003 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the sale, the insider owned 5,301 shares in the company, valued at $451,009.08. This represents a 69.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.70% of the company's stock.

AAON Stock Down 4.0%

AAON stock opened at $100.05 on Friday. The stock's 50 day simple moving average is $88.37 and its 200 day simple moving average is $85.91. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $144.07. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10. The company has a market cap of $8.16 billion, a P/E ratio of 68.06 and a beta of 1.05.

AAON (NASDAQ:AAON - Get Free Report) last issued its earnings results on Tuesday, June 10th. The construction company reported $0.37 earnings per share for the quarter. AAON had a return on equity of 15.45% and a net margin of 9.70%.The company had revenue of $322.05 million for the quarter. On average, research analysts expect that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 5th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, September 5th. This represents a $0.40 annualized dividend and a yield of 0.4%. AAON's dividend payout ratio is presently 27.21%.

About AAON

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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