American Capital Management Inc. Takes $47.59 Million Position in AAON, Inc. $AAON

Key Points

• American Capital Management initiated a $47.6 million AAON position, buying 375,178 shares, or 0.46% of the HVAC manufacturer; institutional investors and hedge funds collectively own 70.81% of the stock.
• AAON reported a strong quarter, with EPS of $0.69 beating the $0.51 consensus and revenue of $626.98 million rising 101.2% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $126.67.
• AAON shares opened at $79.78, well below their 52-week high of $150.46. Insiders recently sold shares, while the company declared a quarterly dividend of $0.10 per share, representing a 0.5% annualized yield.

American Capital Management Inc. bought a new position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 375,178 shares of the construction company's stock, valued at approximately $47,595,000. AAON makes up approximately 2.1% of American Capital Management Inc.'s portfolio, making the stock its 21st biggest position. American Capital Management Inc. owned 0.46% of AAON as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AAON. Millennium Management LLC lifted its stake in AAON by 429.3% in the 1st quarter. Millennium Management LLC now owns 81,145 shares of the construction company's stock valued at $6,340,000 after buying an additional 65,813 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of AAON by 1.8% in the first quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company's stock valued at $1,271,000 after acquiring an additional 294 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of AAON by 20.6% in the first quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company's stock worth $33,669,000 after acquiring an additional 73,644 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of AAON by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company's stock worth $18,204,000 after acquiring an additional 12,489 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock worth $25,000 after purchasing an additional 164 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AAON shares. KeyCorp reissued a "sector weight" rating on shares of AAON in a research note on Thursday, August 13th. Zacks Research lowered AAON from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Oppenheimer cut their price target on AAON from $145.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a research report on Tuesday, July 14th. Finally, Robert W. Baird lowered their price objective on AAON from $150.00 to $135.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, AAON has an average rating of "Moderate Buy" and a consensus target price of $126.67.

Insider Buying and Selling

In related news, CAO Rebecca Thompson sold 4,230 shares of AAON stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total value of $606,666.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gary D. Fields sold 19,000 shares of the business's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.20, for a total value of $2,663,800.00. Following the transaction, the director owned 15,252 shares in the company, valued at $2,138,330.40. The trade was a 55.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 18.09% of the stock is currently owned by insiders.

AAON Stock Performance

Shares of AAON stock opened at $79.78 on Thursday. The company has a quick ratio of 2.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. AAON, Inc. has a 52 week low of $73.19 and a 52 week high of $150.46. The stock has a market capitalization of $6.58 billion, a PE ratio of 41.55, a P/E/G ratio of 1.44 and a beta of 1.45. The firm has a 50 day moving average of $103.16 and a two-hundred day moving average of $105.00.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.18. The company had revenue of $626.98 million for the quarter, compared to analyst estimates of $508.82 million. AAON had a return on equity of 17.32% and a net margin of 8.24%.AAON's revenue for the quarter was up 101.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. On average, research analysts predict that AAON, Inc. will post 2.3 EPS for the current fiscal year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.40 annualized dividend and a yield of 0.5%. AAON's payout ratio is 20.83%.

AAON Profile

AAON, Inc NASDAQ: AAON is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company's product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON's core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.

Want to see what other hedge funds are holding AAON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AAON, Inc. (NASDAQ:AAON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source