Norden Group LLC Sells 5,219 Shares of AAON, Inc. (NASDAQ:AAON)

Key Points

• Norden Group LLC decreased its stake in AAON, Inc. by 30.3%, owning 11,993 shares worth approximately $937,000 after selling 5,219 shares in the first quarter.
• Analysts are divided on AAON's outlook, with ratings ranging from "sell" to "strong buy," resulting in a consensus of "Moderate Buy" with an average price target of $111.50.
• AAON's recent financial performance showed a 22.9% year-over-year revenue increase to $322.05 million, surpassing analyst expectations significantly.

Norden Group LLC decreased its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 30.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,993 shares of the construction company's stock after selling 5,219 shares during the period. Norden Group LLC's holdings in AAON were worth $937,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in AAON by 3.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,652 shares of the construction company's stock worth $989,000 after buying an additional 429 shares during the period. Equitable Trust Co. grew its position in shares of AAON by 90.0% in the 1st quarter. Equitable Trust Co. now owns 4,188 shares of the construction company's stock worth $327,000 after acquiring an additional 1,984 shares in the last quarter. Cetera Investment Advisers boosted its position in AAON by 12.4% during the 1st quarter. Cetera Investment Advisers now owns 10,089 shares of the construction company's stock valued at $788,000 after purchasing an additional 1,117 shares during the period. Avantax Advisory Services Inc. raised its stake in shares of AAON by 26.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 19,530 shares of the construction company's stock worth $1,526,000 after buying an additional 4,031 shares in the last quarter. Finally, Royce & Associates LP acquired a new position in shares of AAON in the 1st quarter worth $13,999,000. Institutional investors and hedge funds own 70.81% of the company's stock.

AAON Stock Performance

Shares of AAON stock traded down $1.19 during mid-day trading on Friday, hitting $82.32. 887,017 shares of the stock were exchanged, compared to its average volume of 945,544. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07. The company has a 50-day simple moving average of $80.89 and a 200 day simple moving average of $91.12. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 2.77. The company has a market capitalization of $6.70 billion, a P/E ratio of 43.27 and a beta of 0.95.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.24 by $0.13. The firm had revenue of $322.05 million for the quarter, compared to analyst estimates of $289.16 million. AAON had a return on equity of 20.23% and a net margin of 12.60%. The company's revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 EPS. Sell-side analysts anticipate that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, June 6th. AAON's dividend payout ratio (DPR) is presently 21.05%.

Insider Buying and Selling

In other AAON news, CEO Gary D. Fields sold 37,189 shares of AAON stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the completion of the transaction, the chief executive officer owned 63,714 shares in the company, valued at approximately $6,256,714.80. The trade was a 36.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gordon Douglas Wichman sold 21,302 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total value of $2,225,632.96. Following the completion of the transaction, the director owned 8,754 shares of the company's stock, valued at $914,617.92. This represents a 70.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,823 shares of company stock valued at $7,122,451. 18.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on AAON. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a research note on Monday, June 16th. Wall Street Zen cut AAON from a "hold" rating to a "sell" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $111.50.

AAON Company 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.