AAON, Inc. $AAON Shares Sold by Bahl & Gaynor Inc.

Key Points

• Bahl & Gaynor Inc. reduced its stake in AAON, Inc. by 12.6%, owning 61,682 shares worth approximately $4.8 million after selling 8,873 shares in the first quarter.
• AAON reported a loss of earnings per share at $0.22 for the last quarter, falling short of the expected $0.31, with revenues also down 0.6% year-over-year
• The company declared a quarterly dividend of $0.10 per share, with a dividend yield of 0.5%, to be paid on September 26th.

Bahl & Gaynor Inc. cut its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 12.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,682 shares of the construction company's stock after selling 8,873 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.08% of AAON worth $4,819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gitterman Wealth Management LLC lifted its stake in AAON by 19.1% in the 1st quarter. Gitterman Wealth Management LLC now owns 9,529 shares of the construction company's stock valued at $745,000 after buying an additional 1,529 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in AAON by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 646,890 shares of the construction company's stock valued at $50,542,000 after buying an additional 34,938 shares in the last quarter. Tribune Investment Group LP purchased a new position in AAON in the 1st quarter valued at about $6,250,000. Erste Asset Management GmbH lifted its stake in AAON by 6.3% in the 1st quarter. Erste Asset Management GmbH now owns 66,034 shares of the construction company's stock valued at $5,176,000 after buying an additional 3,902 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in AAON by 3.1% in the 1st quarter. Northern Trust Corp now owns 644,722 shares of the construction company's stock valued at $50,372,000 after buying an additional 19,316 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on AAON shares. Wall Street Zen downgraded shares of AAON from a "hold" rating to a "strong sell" rating in a report on Sunday, August 17th. Robert W. Baird cut their price objective on shares of AAON from $102.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Sidoti upgraded shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective for the company in a report on Monday, June 16th. Finally, DA Davidson cut their price objective on shares of AAON from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $102.00.

Insider Activity

In other news, insider Christopher Douglas Eason sold 12,003 shares of AAON stock in a transaction on Monday, August 25th. The shares were sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the sale, the insider directly owned 5,301 shares of the company's stock, valued at approximately $451,009.08. The trade was a 69.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.70% of the company's stock.

AAON Trading Down 1.6%

Shares of NASDAQ:AAON traded down $1.32 during mid-day trading on Friday, reaching $83.80. 198,655 shares of the company were exchanged, compared to its average volume of 1,011,320. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.10 and a quick ratio of 1.99. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 57.08 and a beta of 0.94. The firm's 50-day simple moving average is $78.82 and its 200 day simple moving average is $85.69. AAON, Inc. has a 1 year low of $62.00 and a 1 year high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The construction company reported $0.22 earnings per share 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 company had revenue of $311.57 million for the quarter, compared to analysts' expectations of $326.15 million. During the same period in the previous year, the business posted $0.62 EPS. The business's revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts forecast that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

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

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.