Bank of New York Mellon Corp Acquires 312,855 Shares of AAON, Inc. (NASDAQ:AAON)

Bank of New York Mellon Corp increased its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 39.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,101,692 shares of the construction company's stock after purchasing an additional 312,855 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.35% of AAON worth $86,075,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of AAON by 6.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company's stock valued at $455,000 after purchasing an additional 244 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in AAON by 4.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,223 shares of the construction company's stock valued at $1,438,000 after buying an additional 534 shares during the period. HighTower Advisors LLC raised its holdings in AAON by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 13,328 shares of the construction company's stock valued at $1,568,000 after buying an additional 285 shares during the period. PFG Advisors purchased a new stake in AAON during the 4th quarter valued at $1,141,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in AAON by 51.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,876 shares of the construction company's stock valued at $8,811,000 after buying an additional 25,476 shares during the period. Hedge funds and other institutional investors own 70.81% of the company's stock.

Wall Street Analyst Weigh In

AAON has been the topic of several recent research reports. Wall Street Zen upgraded AAON from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target on the stock in a report on Monday, June 16th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $111.50.

AAON Stock Performance

AAON stock opened at $79.99 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.77 and a debt-to-equity ratio of 0.29. The business's fifty day simple moving average is $87.92 and its two-hundred day simple moving average is $95.50. AAON, Inc. has a twelve month low of $68.98 and a twelve month high of $144.07. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 42.10 and a beta of 0.95.

AAON (NASDAQ:AAON - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.13. AAON had a return on equity of 20.23% and a net margin of 12.60%. The business had revenue of $322.05 million for the quarter, compared to analyst estimates of $289.16 million. During the same quarter last year, the firm posted $0.46 earnings per share. The business's revenue was up 22.9% compared to the same quarter last year. Analysts predict that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were paid a $0.10 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.50%. AAON's payout ratio is 21.05%.

Insiders Place Their Bets

In other AAON news, CEO Gary D. Fields sold 8,357 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $98.66, for a total value of $824,501.62. Following the sale, the chief executive officer owned 26,491 shares in the company, valued at $2,613,602.06. This trade represents a 23.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gordon Douglas Wichman sold 21,302 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total value of $2,225,632.96. Following the completion of the sale, the director owned 8,754 shares in the company, valued at approximately $914,617.92. The trade was a 70.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,823 shares of company stock worth $7,122,451. Insiders own 18.70% of the company's stock.

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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