Bank of America Corp DE Has $29.18 Million Stock Position in AAON, Inc. $AAON

Key Points

• Bank of America reduced its AAON stake by 17.8% in the first quarter, selling 76,633 shares and retaining 352,690 shares worth approximately $29.18 million. Institutional investors collectively own 70.81% of the company.
• AAON reported strong quarterly results, with EPS of $0.69 versus a $0.51 estimate and revenue of $626.98 million, up 101.2% year over year. The company also declared a quarterly dividend of $0.10 per share.
• Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy,” although several firms lowered their price targets. Insiders sold 47,403 shares worth approximately $6.66 million during the quarter.

Bank of America Corp DE cut its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 352,690 shares of the construction company's stock after selling 76,633 shares during the period. Bank of America Corp DE owned approximately 0.43% of AAON worth $29,185,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Comerica Bank boosted its position in shares of AAON by 23.7% during the fourth quarter. Comerica Bank now owns 238,462 shares of the construction company's stock valued at $18,183,000 after buying an additional 45,660 shares during the last quarter. Royce & Associates LP raised its position in AAON by 9.6% in the 4th quarter. Royce & Associates LP now owns 467,496 shares of the construction company's stock valued at $35,647,000 after buying an additional 40,892 shares during the last quarter. Stephens Investment Management Group LLC raised its position in AAON by 9.9% in the 4th quarter. Stephens Investment Management Group LLC now owns 636,296 shares of the construction company's stock valued at $48,518,000 after buying an additional 57,281 shares during the last quarter. Madison Asset Management LLC bought a new position in AAON during the 4th quarter valued at $1,629,000. Finally, Conestoga Capital Advisors LLC lifted its stake in AAON by 5.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,776,013 shares of the construction company's stock valued at $135,421,000 after acquiring an additional 84,693 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Insider Activity at AAON

In other AAON news, CAO Rebecca Thompson sold 4,230 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $143.42, for a total value of $606,666.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary D. Fields sold 21,173 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.34, for a total value of $2,971,418.82. Following the transaction, the director directly owned 34,252 shares in the company, valued at $4,806,925.68. This represents a 38.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 47,403 shares of company stock worth $6,663,055. Insiders own 18.09% of the company's stock.

Analyst Upgrades and Downgrades

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

AAON Price Performance

AAON opened at $87.80 on Monday. The firm has a market cap of $7.24 billion, a P/E ratio of 45.73, a PEG ratio of 1.66 and a beta of 1.45. The firm has a 50-day moving average of $110.97 and a 200 day moving average of $105.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.01 and a current ratio of 3.01. AAON, Inc. has a fifty-two week low of $73.19 and a fifty-two week high of $150.46.

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

AAON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. 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.

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