Tidal Investments LLC raised its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 934.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,054 shares of the construction company's stock after buying an additional 126,520 shares during the quarter. Tidal Investments LLC owned about 0.17% of AAON worth $16,482,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in AAON by 6.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company's stock valued at $455,000 after buying an additional 244 shares during the last quarter. Avior Wealth Management LLC raised its stake in AAON by 5,040.4% during the fourth quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company's stock valued at $284,000 after buying an additional 2,369 shares during the last quarter. SG Americas Securities LLC raised its stake in AAON by 691.1% during the fourth quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company's stock valued at $2,903,000 after buying an additional 21,548 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of AAON by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock worth $351,615,000 after purchasing an additional 150,207 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of AAON by 19.3% in the fourth quarter. American Century Companies Inc. now owns 68,760 shares of the construction company's stock worth $8,092,000 after purchasing an additional 11,140 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.
Wall Street Analysts Forecast Growth
AAON has been the subject of several recent analyst reports. CJS Securities upgraded AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target for the company in a research note on Friday, February 28th. DA Davidson decreased their price target on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Robert W. Baird decreased their price target on AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Finally, Wall Street Zen cut AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $115.50.
Read Our Latest Analysis on AAON
AAON Stock Performance
Shares of AAON traded down $0.84 during trading hours on Friday, hitting $99.10. The stock had a trading volume of 291,927 shares, compared to its average volume of 664,522. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07. The firm has a market capitalization of $8.06 billion, a PE ratio of 43.66 and a beta of 1.06. The stock has a fifty day moving average price of $88.16 and a 200 day moving average price of $107.33.
AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.24 by $0.13. AAON had a return on equity of 24.98% and a net margin of 15.78%. The company had revenue of $322.05 million during the quarter, compared to analyst estimates of $289.16 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. AAON's revenue was up 22.9% compared to the same quarter last year. Analysts anticipate that AAON, Inc. will post 2.26 EPS for the current year.
AAON Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 6th. AAON's dividend payout ratio is presently 21.05%.
AAON declared that its board has authorized a share repurchase program on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.
Insider Buying and Selling at AAON
In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of the business'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 owns 8,754 shares of the company's stock, valued at approximately $914,617.92. The trade was a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Raymond Stewart purchased 1,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $80.86 per share, with a total value of $80,860.00. Following the acquisition, the director now directly owns 3,000 shares of the company's stock, valued at $242,580. This trade represents a 50.00% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 70,823 shares of company stock valued at $7,122,451. Company insiders own 18.55% of the company's stock.
About AAON
(
Free Report)
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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