Allspring Global Investments Holdings LLC Decreases Stock Holdings in AAON, Inc. $AAON

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in AAON, Inc. by 31.3% in Q2, now holding approximately 0.55% of the company, valued at $33.68 million.
• Insider selling was significant, with CFO Rebecca Thompson and another insider collectively offloading 21,353 shares, indicating a 27.71% and 69.37% decrease in their ownership, respectively.
• AAON recently declared a $0.10 quarterly dividend, representing a yield of 0.4%, and has analysts estimating a consensus price target of $104.00 for the stock.

Allspring Global Investments Holdings LLC trimmed its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 31.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 449,656 shares of the construction company's stock after selling 205,138 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.55% of AAON worth $33,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Index Fund Advisors Inc. bought a new stake in AAON in the second quarter worth $271,000. Trust Co. of Toledo NA OH bought a new stake in AAON in the second quarter worth $91,000. Inspire Investing LLC lifted its position in AAON by 8.5% in the second quarter. Inspire Investing LLC now owns 9,100 shares of the construction company's stock worth $671,000 after buying an additional 710 shares during the last quarter. Aberdeen Group plc lifted its position in AAON by 460.3% in the second quarter. Aberdeen Group plc now owns 165,897 shares of the construction company's stock worth $12,213,000 after buying an additional 136,288 shares during the last quarter. Finally, Callan Family Office LLC bought a new stake in AAON in the second quarter worth $439,000. Hedge funds and other institutional investors own 70.81% of the company's stock.

Insider Buying and Selling at AAON

In other news, CFO Rebecca Thompson sold 9,350 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $81.09, for a total transaction of $758,191.50. Following the transaction, the chief financial officer owned 24,396 shares in the company, valued at approximately $1,978,271.64. This trade represents a 27.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher Douglas Eason sold 12,003 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $85.08, for a total value of $1,021,215.24. Following the transaction, the insider owned 5,301 shares in the company, valued at approximately $451,009.08. This represents a 69.37% decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.70% of the company's stock.

AAON Stock Performance

AAON stock opened at $104.26 on Thursday. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 70.93 and a beta of 1.05. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $144.07. The business's fifty day simple moving average is $88.02 and its two-hundred day simple moving average is $85.76.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The construction company reported $0.37 EPS for the quarter. The firm had revenue of $322.05 million for the quarter. AAON had a return on equity of 15.45% and a net margin of 9.70%. Analysts predict that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, September 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. AAON's dividend payout ratio (DPR) is currently 27.21%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AAON. Zacks Research upgraded AAON from a "strong sell" rating to a "hold" rating in a research report on Monday. Robert W. Baird lowered their price target on AAON from $102.00 to $98.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Weiss Ratings restated a "hold (c)" rating on shares of AAON in a research report on Wednesday, October 8th. Wall Street Zen lowered AAON from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 17th. Finally, DA Davidson reduced their target price on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, AAON currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.00.

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.

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