Comerica Bank Has $14.39 Million Stock Holdings in AAON, Inc. $AAON

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 lowered its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 31.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 184,118 shares of the construction company's stock after selling 85,938 shares during the quarter. Comerica Bank owned about 0.23% of AAON worth $14,385,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of AAON. Price T Rowe Associates Inc. MD raised its position in AAON by 33.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 611,952 shares of the construction company's stock worth $72,016,000 after purchasing an additional 151,891 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of AAON by 17.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 13,534 shares of the construction company's stock worth $1,593,000 after buying an additional 2,057 shares during the period. Voya Investment Management LLC grew its position in shares of AAON by 184.5% during the 4th quarter. Voya Investment Management LLC now owns 90,559 shares of the construction company's stock worth $10,657,000 after buying an additional 58,727 shares during the period. Quarry LP grew its position in shares of AAON by 49.0% during the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after buying an additional 103 shares during the period. Finally, Bellwether Advisors LLC acquired a new stake in shares of AAON during the 4th quarter worth approximately $186,000. Institutional investors and hedge funds own 70.81% of the company's stock.

Insider Buying and Selling at AAON

In related news, insider Christopher Douglas Eason sold 12,003 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $85.08, for a total value 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 approximately $451,009.08. This trade represents a 69.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 18.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on AAON shares. Wall Street Zen cut shares of AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. DA Davidson reduced their target price on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Robert W. Baird reduced their target price on AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Finally, Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, AAON presently has a consensus rating of "Buy" and an average target price of $102.00.

AAON Stock Down 2.5%

Shares of NASDAQ:AAON traded down $2.17 during midday trading on Friday, reaching $82.95. 861,153 shares of the company were exchanged, compared to its average volume of 1,521,417. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $144.07. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $79.04 and a two-hundred day simple moving average of $85.31. The firm has a market cap of $6.76 billion, a PE ratio of 56.43 and a beta of 0.94.

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

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. AAON's dividend payout ratio (DPR) is currently 27.21%.

AAON Profile

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.