AAON, Inc. $AAON Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC significantly reduced its stake in AAON, Inc. by 50.2%, now owning 20,265 shares valued at approximately $1.5 million.
• Despite some target price reductions by analysts, AAON continues to receive a majority of "buy" ratings, with an average target price of $102.60.
• AAON recently announced a quarterly dividend of $0.10 per share, representing an annualized yield of 0.4%.

Janney Montgomery Scott LLC decreased its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 50.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,265 shares of the construction company's stock after selling 20,424 shares during the period. Janney Montgomery Scott LLC's holdings in AAON were worth $1,495,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC purchased a new position in AAON in the 4th quarter valued at approximately $210,000. UMB Bank n.a. grew its position in AAON by 81.2% during 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. Rakuten Securities Inc. boosted its holdings in shares of AAON by 613.3% in the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after acquiring an additional 276 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of AAON by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 7,905 shares of the construction company's stock valued at $617,000 after acquiring an additional 210 shares in the last quarter. Finally, Institute for Wealth Management LLC. purchased a new stake in AAON during the first quarter worth about $463,000. Hedge funds and other institutional investors own 70.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AAON shares. Robert W. Baird cut 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. DA Davidson decreased their target price on shares of AAON from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Oppenheimer reissued an "outperform" rating and set a $105.00 price objective on shares of AAON in a report on Tuesday, September 30th. Wall Street Zen downgraded shares of AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of AAON in a research report on Wednesday. One equities research 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. According to data from MarketBeat.com, AAON presently has an average rating of "Buy" and an average price target of $102.60.

AAON Stock Down 1.7%

AAON stock opened at $99.50 on Friday. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 67.69 and a beta of 1.05. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. The company's 50-day moving average price is $86.75 and its two-hundred day moving average price is $85.30. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last released its earnings results on Tuesday, June 10th. The construction company reported $0.37 EPS for the quarter. The firm had revenue of $322.05 million for the quarter. AAON had a net margin of 9.70% and a return on equity of 15.45%. On average, analysts expect that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. AAON's payout ratio is currently 27.21%.

Insider Activity at AAON

In other news, CFO Rebecca Thompson sold 9,350 shares of AAON stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $81.09, for a total value of $758,191.50. Following the transaction, the chief financial officer owned 24,396 shares of the company's stock, valued at $1,978,271.64. The trade was a 27.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christopher Douglas Eason sold 12,003 shares of AAON stock in a transaction that occurred on Monday, August 25th. The stock was 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 in the company, valued at $451,009.08. This represents a 69.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 18.70% of the company's stock.

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.

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