AAON, Inc. $AAON Position Lowered by Swedbank AB

Key Points

• Swedbank AB reduced its AAON stake by 29.2% in the first quarter, selling 89,000 shares and leaving it with 216,000 shares worth about $17.9 million.
• Insider selling has been notable, with CAO Rebecca Thompson and Director Gary D. Fields both trimming holdings; insiders sold a combined 150,473 shares worth about $19.5 million last quarter.
• AAON posted strong quarterly results, reporting EPS of $0.48 versus estimates of $0.31 and revenue of $496.94 million, while analysts currently hold a consensus Moderate Buy rating with a $112 target price.

Swedbank AB trimmed its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 29.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,000 shares of the construction company's stock after selling 89,000 shares during the period. Swedbank AB owned 0.26% of AAON worth $17,874,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in AAON by 96.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock worth $25,000 after buying an additional 164 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of AAON in the 4th quarter worth approximately $45,000. Danske Bank A S bought a new stake in shares of AAON in the 3rd quarter valued at approximately $47,000. Huntington National Bank raised its position in shares of AAON by 21.1% during the 4th quarter. Huntington National Bank now owns 689 shares of the construction company's stock valued at $53,000 after acquiring an additional 120 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of AAON by 46.8% during the 4th quarter. UMB Bank n.a. now owns 885 shares of the construction company's stock valued at $67,000 after acquiring an additional 282 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Rebecca Thompson sold 21,914 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $100.21, for a total transaction of $2,196,001.94. Following the completion of the transaction, the chief accounting officer directly owned 27,681 shares in the company, valued at approximately $2,773,913.01. The trade was a 44.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gary D. Fields sold 31,271 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $134.07, for a total value of $4,192,502.97. Following the completion of the transaction, the director directly owned 34,252 shares of the company's stock, valued at $4,592,165.64. This trade represents a 47.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 150,473 shares of company stock worth $19,516,213 in the last quarter. Company insiders own 18.09% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on AAON shares. Oppenheimer reiterated an "outperform" rating on shares of AAON in a research note on Friday, May 8th. Zacks Research downgraded shares of AAON from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $112.00.

AAON Stock Performance

AAON stock opened at $110.25 on Friday. AAON, Inc. has a 1 year low of $62.00 and a 1 year high of $150.46. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 77.10, a PEG ratio of 3.02 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62. The stock's fifty day moving average is $127.65 and its two-hundred day moving average is $102.94.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.31 by $0.17. AAON had a net margin of 7.30% and a return on equity of 13.67%. The business had revenue of $496.94 million during the quarter, compared to analyst estimates of $381.08 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The company's quarterly revenue was up 54.3% on a year-over-year basis. On average, research analysts predict that AAON, Inc. will post 2.23 EPS for the current year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a $0.10 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.40 annualized dividend and a yield of 0.4%. AAON's dividend payout ratio is 27.97%.

AAON Company Profile

AAON, Inc NASDAQ: AAON is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company's product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON's core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.

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