AAON, Inc. $AAON Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its AAON stake by 1.2% (sold 77,588 shares), leaving it with 6,396,501 shares — about 7.84% of the company worth $487.7M; institutional investors now own 70.81% of AAON.
• AAON's quarterly results showed revenue of $424.22M (versus $374.10M expected), up 42.5% year-over-year, while EPS missed at $0.39 versus the $0.45 consensus.
• Analysts hold a consensus "Moderate Buy" on AAON (five Buy, two Hold) with an average price target of $107.75, including $120 from DA Davidson and $118 from Oppenheimer.

Vanguard Group Inc. lowered its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,396,501 shares of the construction company's stock after selling 77,588 shares during the period. Vanguard Group Inc. owned approximately 7.84% of AAON worth $487,733,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Impax Asset Management Group plc grew its position in AAON by 53.2% in the 4th quarter. Impax Asset Management Group plc now owns 1,403,648 shares of the construction company's stock valued at $107,028,000 after buying an additional 487,601 shares during the last quarter. Copeland Capital Management LLC lifted its stake in shares of AAON by 9.9% in the 4th quarter. Copeland Capital Management LLC now owns 799,977 shares of the construction company's stock worth $60,998,000 after acquiring an additional 71,853 shares during the period. M&T Bank Corp boosted its holdings in shares of AAON by 79.4% in the fourth quarter. M&T Bank Corp now owns 51,207 shares of the construction company's stock valued at $3,780,000 after acquiring an additional 22,662 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of AAON by 7.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,764 shares of the construction company's stock valued at $1,812,000 after acquiring an additional 1,551 shares in the last quarter. Finally, Tributary Capital Management LLC acquired a new position in shares of AAON during the fourth quarter worth about $659,000. Hedge funds and other institutional investors own 70.81% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAON. Wall Street Zen raised shares of AAON from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. William Blair reaffirmed an "outperform" rating on shares of AAON in a report on Monday, March 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a research report on Wednesday, January 21st. DA Davidson reissued a "buy" rating and set a $120.00 target price on shares of AAON in a research note on Tuesday, February 3rd. Finally, Oppenheimer restated an "outperform" rating and issued a $118.00 price target (up from $115.00) on shares of AAON in a research note on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $107.75.

Insiders Place Their Bets

In other AAON news, insider Casey Kidwell sold 5,225 shares of the company's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $90.00, for a total value of $470,250.00. Following the sale, the insider owned 12,662 shares of the company's stock, valued at approximately $1,139,580. This represents a 29.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca Thompson sold 400 shares of AAON stock in a transaction on Monday, April 27th. The stock was sold at an average price of $100.27, for a total value of $40,108.00. Following the transaction, the chief accounting officer directly owned 27,681 shares of the company's stock, valued at $2,775,573.87. This trade represents a 1.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 37,118 shares of company stock worth $3,665,241. 18.09% of the stock is owned by company insiders.

AAON Trading Up 1.9%

Shares of AAON opened at $93.66 on Wednesday. The company has a current ratio of 2.63, a quick ratio of 1.84 and a debt-to-equity ratio of 0.45. The firm's 50-day moving average is $89.72 and its two-hundred day moving average is $90.62. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $116.04. The firm has a market capitalization of $7.64 billion, a P/E ratio of 72.05, a PEG ratio of 2.87 and a beta of 1.24.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The construction company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). The company had revenue of $424.22 million for the quarter, compared to analyst estimates of $374.10 million. AAON had a net margin of 7.46% and a return on equity of 13.13%. AAON's revenue was up 42.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 earnings per share. On average, research analysts predict that AAON, Inc. will post 2 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Wednesday, March 18th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.4%. AAON's payout ratio is currently 30.77%.

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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