Portside Wealth Group LLC Trims Position in AAON, Inc. (NASDAQ:AAON)

Portside Wealth Group LLC lowered its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 25.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,003 shares of the construction company's stock after selling 3,713 shares during the quarter. Portside Wealth Group LLC's holdings in AAON were worth $860,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAON. Twin Tree Management LP purchased a new position in shares of AAON during the fourth quarter worth $33,000. Quarry LP lifted its stake in AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after acquiring an additional 103 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of AAON by 652.3% during the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after purchasing an additional 287 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of AAON in the 4th quarter valued at about $42,000. Finally, Blue Trust Inc. increased its stake in AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock valued at $41,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

Insider Buying and Selling at AAON

In related news, CEO Gary D. Fields sold 8,357 shares of the 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 sale, the chief executive officer now directly owns 26,491 shares of the company's stock, valued at approximately $2,613,602.06. This represents a 23.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gordon Douglas Wichman sold 3,975 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $105.75, for a total transaction of $420,356.25. Following the transaction, the director now directly owns 8,754 shares of the company's stock, valued at approximately $925,735.50. This trade represents a 31.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,823 shares of company stock valued at $7,122,451. 18.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAON has been the topic of several research analyst reports. CJS Securities raised AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a research report on Friday, February 28th. DA Davidson lowered their target price 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. Wall Street Zen downgraded shares of AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Finally, Robert W. Baird lowered 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $115.50.

AAON Stock Performance

Shares of NASDAQ AAON traded down $15.40 during mid-day trading on Tuesday, hitting $78.56. 2,974,154 shares of the company were exchanged, compared to its average volume of 667,011. The stock has a 50 day simple moving average of $91.60 and a 200-day simple moving average of $104.27. AAON, Inc. has a 1-year low of $68.98 and a 1-year high of $144.07. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 34.61 and a beta of 1.03.

AAON (NASDAQ:AAON - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.24 by $0.13. The company had revenue of $322.05 million during 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 was up 22.9% on a year-over-year basis. During the same quarter last year, the business earned $0.46 EPS. On average, sell-side analysts forecast that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.51%. The ex-dividend date is Friday, June 6th. AAON's payout ratio is 21.05%.

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.