Allied Investment Advisors LLC Cuts Position in AAON, Inc. (NASDAQ:AAON)

Allied Investment Advisors LLC cut its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 6.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 115,411 shares of the construction company's stock after selling 8,572 shares during the quarter. Allied Investment Advisors LLC owned 0.14% of AAON worth $9,017,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AAON. Mather Group LLC. raised its holdings in shares of AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company's stock worth $27,000 after purchasing an additional 193 shares during the last quarter. Twin Tree Management LP acquired a new position in shares of AAON in the 4th quarter valued at about $33,000. Quarry LP lifted its holdings in shares of AAON by 49.0% in the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after buying an additional 103 shares during the period. Versant Capital Management Inc boosted its stake in shares of AAON by 652.3% in the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after buying an additional 287 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of AAON in the fourth quarter worth about $42,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AAON

In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of AAON stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the transaction, the director now directly owns 8,754 shares of the company's stock, valued at $914,617.92. The trade was a 70.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Raymond Stewart purchased 1,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $80.86 per share, with a total value of $80,860.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. The trade was a 50.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 70,823 shares of company stock worth $7,122,451 in the last quarter. Company insiders own 18.70% of the company's stock.

AAON Price Performance

NASDAQ AAON traded up $1.49 during trading hours on Tuesday, hitting $95.56. 498,260 shares of the company's stock traded hands, compared to its average volume of 660,537. The company has a market capitalization of $7.78 billion, a PE ratio of 42.10 and a beta of 1.06. 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 52-week low of $68.98 and a 52-week high of $144.07. The firm's 50-day moving average is $90.03 and its 200-day moving average is $105.61.

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, beating the consensus estimate of $0.24 by $0.13. The firm had revenue of $322.05 million during the quarter, compared to analysts' expectations of $289.16 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The business's revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share. Equities analysts forecast that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON declared that its board has approved a share buyback plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. AAON's dividend payout ratio is presently 21.05%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AAON. Robert W. Baird reduced their price target on AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Wall Street Zen lowered shares of AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. DA Davidson decreased their target price on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, CJS Securities raised AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $115.50.

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.