AAON, Inc. $AAON Shares Acquired by Franklin Resources Inc.

Key Points

• Franklin Resources dramatically increased its stake in AAON, boosting holdings by 8,956.4% in the fourth quarter to 1.22 million shares worth about $93.2 million, or roughly 1.5% of the company.
• AAON reported strong quarterly results, with EPS of $0.48 beating estimates of $0.31 and revenue of $496.94 million topping expectations; revenue rose 54.3% year over year.
• The stock has seen mixed signals from insiders and analysts: insiders sold shares over the past three months, while analysts currently rate AAON a consensus Buy with an average target price of $107.75.

Franklin Resources Inc. increased its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 8,956.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,222,706 shares of the construction company's stock after buying an additional 1,209,205 shares during the period. Franklin Resources Inc. owned about 1.50% of AAON worth $93,231,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of AAON by 96.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after buying an additional 164 shares during the period. CBIZ Investment Advisory Services LLC acquired a new position in AAON during the 3rd quarter valued at about $26,000. Jones Financial Companies Lllp boosted its stake in AAON by 59.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company's stock valued at $34,000 after purchasing an additional 141 shares during the period. Danske Bank A S acquired a new position in AAON during the 3rd quarter valued at about $47,000. Finally, Huntington National Bank boosted its stake in AAON by 27.0% during the 3rd quarter. Huntington National Bank now owns 569 shares of the construction company's stock valued at $53,000 after purchasing an additional 121 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AAON

In other AAON news, CEO Matthew Joseph Tobolski sold 8,000 shares of the business's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total transaction of $1,082,960.00. Following the sale, the chief executive officer directly owned 114,371 shares in the company, valued at approximately $15,482,402.27. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rebecca Thompson sold 4,230 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $143.42, for a total transaction of $606,666.60. The disclosure for this sale is available in the SEC filing. Insiders sold 150,473 shares of company stock worth $19,516,213 in the last three months. Insiders own 18.09% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AAON. Zacks Research raised shares of AAON from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 11th. William Blair reissued an "outperform" rating on shares of AAON in a research note on Monday, March 2nd. Oppenheimer reissued an "outperform" rating on shares of AAON in a research note on Friday, May 8th. Finally, Wall Street Zen raised shares of AAON from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, AAON presently has a consensus rating of "Buy" and an average target price of $107.75.

AAON Trading Down 6.6%

AAON stock opened at $121.12 on Thursday. AAON, Inc. has a 52-week low of $62.00 and a 52-week high of $150.46. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 84.70, a PEG ratio of 3.63 and a beta of 1.39. The firm has a 50-day moving average price of $113.51 and a two-hundred day moving average price of $97.23. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46.

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 analysts' consensus estimates of $0.31 by $0.17. AAON had a net margin of 7.30% and a return on equity of 13.67%. The company had revenue of $496.94 million for the quarter, compared to the consensus estimate of $381.08 million. During the same period in the previous year, the firm earned $0.37 EPS. AAON's revenue was up 54.3% on a year-over-year basis. Sell-side analysts expect that AAON, Inc. will post 2.23 earnings per share for the current year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, June 5th. AAON's payout ratio is 27.97%.

AAON 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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