336,730 AAON, Inc. $AAON Shares Purchased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its AAON stake by 38.1% in the third quarter, buying 336,730 shares and bringing its holdings to 1,220,470 shares, valued at about $101 million.
• AAON reported quarterly EPS of $0.69, above the $0.51 analyst estimate, while revenue reached $626.98 million, up 101.2% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with a $120 average price target; two AAON insiders also disclosed stock purchases.

Pictet Asset Management Holding SA boosted its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 38.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,220,470 shares of the construction company's stock after purchasing an additional 336,730 shares during the quarter. Pictet Asset Management Holding SA owned about 1.48% of AAON worth $101,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. SummitTX Capital L.P. raised its holdings in shares of AAON by 1.7% in the first quarter. SummitTX Capital L.P. now owns 4,622 shares of the construction company's stock valued at $382,000 after acquiring an additional 76 shares in the last quarter. Arizona State Retirement System grew its holdings in AAON by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 19,196 shares of the construction company's stock worth $2,435,000 after acquiring an additional 161 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in AAON by 48.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 549 shares of the construction company's stock valued at $45,000 after purchasing an additional 178 shares during the period. Summitry LLC increased its position in AAON by 2.6% during the 1st quarter. Summitry LLC now owns 7,830 shares of the construction company's stock valued at $648,000 after purchasing an additional 195 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its position in AAON by 0.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 46,843 shares of the construction company's stock valued at $3,877,000 after purchasing an additional 201 shares during the period. 70.81% of the stock is owned by institutional investors.

Insider Transactions at AAON

In other news, Director David Stewart purchased 1,000 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were acquired at an average price of $74.66 per share, for a total transaction of $74,660.00. Following the purchase, the director owned 4,000 shares in the company, valued at $298,640. This trade represents a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matthew Shaub purchased 457 shares of AAON stock in a transaction on Friday, August 28th. The shares were acquired at an average cost of $76.42 per share, with a total value of $34,923.94. Following the completion of the transaction, the executive vice president directly owned 3,136 shares in the company, valued at $239,653.12. The trade was a 17.06% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 18.09% of the company's stock.

AAON Price Performance

Shares of AAON opened at $57.19 on Monday. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 1.06 and a beta of 1.45. AAON, Inc. has a twelve month low of $53.13 and a twelve month high of $150.46. The company has a quick ratio of 2.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $76.99 and a two-hundred day moving average of $96.98.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.18. AAON had a return on equity of 17.32% and a net margin of 8.24%. The business had revenue of $626.98 million for the quarter, compared to the consensus estimate of $508.82 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The business's quarterly revenue was up 101.2% on a year-over-year basis. As a group, analysts predict that AAON, Inc. will post 2.35 earnings per share for the current fiscal year.

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. AAON's dividend payout ratio (DPR) is currently 20.83%.

Wall Street Analyst Weigh In

AAON has been the topic of a number of recent research reports. Oppenheimer reiterated an "outperform" rating and set a $115.00 price objective (down from $125.00) on shares of AAON in a research note on Wednesday, October 14th. Robert W. Baird reduced their price objective on shares of AAON from $150.00 to $135.00 and set an "outperform" rating for the company in a research note on Tuesday, August 11th. Weiss Ratings reissued a "hold (c)" rating on shares of AAON in a research note on Monday, October 12th. DA Davidson started coverage on AAON in a report on Tuesday, September 15th. They set a "buy" rating and a $110.00 target price for the company. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of AAON in a research report on Thursday, August 13th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

About AAON

AAON, Inc designs and manufactures heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial buildings. Founded in 1988, the company is headquartered in Tulsa, Oklahoma, and sells products under the AAON and BASX brands.

Its products include rooftop units, chillers, air-handling units, heat pumps and other custom HVAC systems. BASX specializes in equipment for data centers and other demanding applications, while AAON also offers controls and related services.

AAON serves customers primarily in North America, with products also reaching international markets through its sales and distribution network.

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