Amundi Sells 37,507 Shares of AAON, Inc. $AAON

Key Points

• Amundi reduced its AAON stake by 8.5%, selling 37,507 shares and ending the quarter with 402,187 shares valued at approximately $33.3 million. Institutional investors collectively own 70.81% of the company.
• AAON reported strong quarterly results, with earnings per share of $0.48 versus the $0.31 consensus estimate and revenue of $496.94 million, up 54.3% year over year.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $112, while several AAON insiders sold shares worth a combined $16.3 million over the past 90 days.

Amundi cut its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 8.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 402,187 shares of the construction company's stock after selling 37,507 shares during the quarter. Amundi owned about 0.49% of AAON worth $33,284,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of AAON by 96.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after buying an additional 164 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of AAON during the 4th quarter worth approximately $45,000. Danske Bank A S purchased a new stake in AAON during the third quarter valued at approximately $47,000. Huntington National Bank lifted its position in AAON by 21.1% during the fourth quarter. Huntington National Bank now owns 689 shares of the construction company's stock valued at $53,000 after acquiring an additional 120 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in AAON by 46.8% in the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company's stock valued at $67,000 after acquiring an additional 282 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

AAON Trading Up 3.9%

Shares of NASDAQ:AAON opened at $92.56 on Tuesday. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. AAON, Inc. has a 52-week low of $62.00 and a 52-week high of $150.46. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 64.73, a PEG ratio of 2.48 and a beta of 1.45. The business has a 50-day moving average price of $120.18 and a 200-day moving average price of $105.87.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.17. The company had revenue of $496.94 million for the quarter, compared to the consensus estimate of $381.08 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. AAON's quarterly revenue was up 54.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. Equities analysts predict that AAON, Inc. will post 2.24 EPS for the current year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, June 5th. AAON's dividend payout ratio is presently 27.97%.

Insider Buying and Selling

In other AAON news, CAO Rebecca Thompson sold 4,230 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $143.42, for a total transaction of $606,666.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew Joseph Tobolski sold 8,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $135.37, for a total value of $1,082,960.00. Following the completion of the sale, the chief executive officer owned 114,371 shares in the company, valued at $15,482,402.27. The trade was a 6.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 118,580 shares of company stock valued at $16,321,222 in the last 90 days. 18.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AAON. Zacks Research lowered shares of AAON from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Oppenheimer reiterated an "outperform" rating on shares of AAON in a report on Friday, May 8th. KeyCorp assumed coverage on AAON in a research report on Thursday, July 23rd. They issued a "sector weight" rating for the company. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of AAON in a research report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $112.00.

About AAON

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.

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