Man Group plc Decreases Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Man Group plc lessened its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 9.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,671 shares of the construction company's stock after selling 8,998 shares during the quarter. Man Group plc owned approximately 0.11% of AAON worth $10,435,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in AAON by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company's stock valued at $734,262,000 after purchasing an additional 75,832 shares during the last quarter. JPMorgan Chase & Co. lifted its position in AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock valued at $351,615,000 after purchasing an additional 150,207 shares during the last quarter. Invesco Ltd. lifted its position in AAON by 15.6% during the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock valued at $239,184,000 after purchasing an additional 274,119 shares during the last quarter. Geode Capital Management LLC lifted its position in AAON by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company's stock valued at $145,692,000 after purchasing an additional 3,644 shares during the last quarter. Finally, Blair William & Co. IL lifted its position in AAON by 4.2% during the fourth quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company's stock valued at $137,660,000 after purchasing an additional 47,254 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

Insider Transactions at AAON

In related news, CEO Gary D. Fields sold 8,357 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $98.66, for a total value of $824,501.62. Following the completion of the sale, the chief executive officer now directly owns 26,491 shares of the company's stock, valued at $2,613,602.06. This represents a 23.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon Douglas Wichman sold 21,302 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the completion of the sale, the director now directly owns 8,754 shares of the company's stock, valued at approximately $914,617.92. This trade represents a 70.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,823 shares of company stock worth $7,122,451. Insiders own 18.55% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on AAON. Wall Street Zen lowered shares of AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Robert W. Baird cut their price objective on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. DA Davidson cut their price objective on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, CJS Securities upgraded shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $115.50.

AAON Trading Down 0.8%

Shares of NASDAQ AAON traded down $0.84 during mid-day trading on Friday, reaching $99.10. The company had a trading volume of 291,927 shares, compared to its average volume of 664,522. The business's 50-day moving average is $88.16 and its 200-day moving average is $107.33. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 43.66 and a beta of 1.06. AAON, Inc. has a 52 week low of $68.98 and a 52 week high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.13. The firm had revenue of $322.05 million for the quarter, compared to analysts' expectations of $289.16 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The business's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. Equities analysts expect that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON announced that its board has authorized a share buyback program on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, June 6th. AAON's payout ratio is presently 21.05%.

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.