Aperture Investors LLC Takes $25.22 Million Position in AAON, Inc. $AAON

Key Points

• Aperture Investors LLC acquired a new position in AAON, Inc., investing $25.22 million for 322,765 shares, making it the fund’s 6th largest holding.
• Recent analyst ratings for AAON show a consensus of Buy with target prices varying between $95.00 and $105.00, indicating positive market sentiment despite mixed performance observations.
• AAON has announced a quarterly dividend of $0.10 per share, reflecting a dividend yield of 0.5% and a payout ratio of 27.21%.

Aperture Investors LLC purchased a new stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 322,765 shares of the construction company's stock, valued at approximately $25,218,000. AAON comprises approximately 3.2% of Aperture Investors LLC's holdings, making the stock its 6th biggest position. Aperture Investors LLC owned approximately 0.40% of AAON as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. lifted its holdings in shares of AAON by 613.3% during the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after buying an additional 276 shares during the last quarter. Versant Capital Management Inc boosted its position in AAON by 652.3% during the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after purchasing an additional 287 shares during the period. Quarry LP boosted its position in AAON by 49.0% during the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after purchasing an additional 103 shares during the period. UMB Bank n.a. boosted its position in AAON by 81.2% during the first quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock worth $46,000 after purchasing an additional 264 shares during the period. Finally, Parallel Advisors LLC boosted its position in AAON by 26.3% during the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock worth $56,000 after purchasing an additional 149 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAON has been the subject of a number of recent analyst reports. Sidoti raised AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price for the company in a research report on Monday, June 16th. Wall Street Zen cut AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. Robert W. Baird decreased their target price on AAON from $102.00 to $98.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Finally, DA Davidson decreased their target price on AAON from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $102.00.

AAON Stock Up 0.4%

Shares of AAON stock opened at $85.12 on Friday. AAON, Inc. has a 12 month low of $62.00 and a 12 month high of $144.07. The firm has a market cap of $6.94 billion, a PE ratio of 57.90 and a beta of 0.94. The stock has a 50 day moving average of $78.82 and a 200-day moving average of $85.69. 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 (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The construction company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.09). AAON had a return on equity of 15.45% and a net margin of 9.70%.The business had revenue of $311.57 million for the quarter, compared to analyst estimates of $326.15 million. During the same quarter last year, the firm earned $0.62 earnings per share. The firm's quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, September 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. AAON's payout ratio is 27.21%.

Insider Activity at AAON

In other news, insider Christopher Douglas Eason sold 12,003 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the transaction, the insider directly owned 5,301 shares in the company, valued at $451,009.08. The trade was a 69.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.70% of the stock is currently owned by company insiders.

About AAON

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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