AAON, Inc. $AAON Shares Sold by Comerica Bank

Key Points

• Comerica Bank reduced its stake in AAON, Inc. by 31.8%, selling 85,938 shares during the first quarter, leaving it with a total of 184,118 shares valued at approximately $14.4 million.
• AAON recently declared a quarterly dividend of $0.10 per share, set to be paid on September 26th, which reflects a 0.5% yield and a payout ratio of 27.21%.
• Analysts have varied price targets for AAON, with a consensus rating of "Buy" and an average target price of $102.00.

Comerica Bank decreased its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 31.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,118 shares of the construction company's stock after selling 85,938 shares during the period. Comerica Bank owned about 0.23% of AAON worth $14,385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. increased its stake in AAON by 613.3% during the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock worth $25,000 after buying an additional 276 shares during the period. Versant Capital Management Inc increased its position in shares of AAON by 652.3% in the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after purchasing an additional 287 shares during the last quarter. Quarry LP increased its position in shares of AAON by 49.0% in the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after purchasing an additional 103 shares during the last quarter. UMB Bank n.a. increased its position in shares of AAON by 81.2% in the 1st quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock worth $46,000 after purchasing an additional 264 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of AAON by 26.3% in the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock worth $56,000 after purchasing an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

AAON Stock Performance

Shares of NASDAQ AAON traded up $0.37 during midday trading on Thursday, hitting $85.12. The company's stock had a trading volume of 537,189 shares, compared to its average volume of 1,580,473. AAON, Inc. has a 1-year low of $62.00 and a 1-year high of $144.07. The firm's fifty day moving average price is $78.82 and its 200-day moving average price is $85.69. 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 firm has a market cap of $6.94 billion, a P/E ratio of 57.90 and a beta of 0.94.

AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Monday, August 11th. The construction company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.09). The firm had revenue of $311.57 million for the quarter, compared to analyst estimates of $326.15 million. AAON had a net margin of 9.70% and a return on equity of 15.45%. The company's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, sell-side analysts forecast that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 5th. AAON's payout ratio is presently 27.21%.

Analyst Ratings Changes

Several research firms have recently weighed in on AAON. Robert W. Baird dropped their target price on shares of AAON from $102.00 to $98.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Sidoti raised shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price for the company in a research report on Monday, June 16th. DA Davidson dropped their target price on shares of AAON from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $102.00.

Insider Transactions at AAON

In other AAON news, insider Christopher Douglas Eason sold 12,003 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the transaction, the insider directly owned 5,301 shares of the company's stock, valued at $451,009.08. The trade was a 69.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.70% of the stock is owned by insiders.

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.