Bank of New York Mellon Corp reduced its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 2.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 442,472 shares of the construction company's stock after selling 10,764 shares during the period. Bank of New York Mellon Corp owned about 0.54% of AAON worth $36,615,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in AAON. Toronto Dominion Bank grew its stake in shares of AAON by 1.7% during the fourth quarter. Toronto Dominion Bank now owns 5,889 shares of the construction company's stock valued at $448,000 after buying an additional 99 shares during the last quarter. Huntington National Bank lifted its holdings in shares of 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 purchasing an additional 120 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake 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 worth $25,000 after buying an additional 164 shares during the last quarter. Hantz Financial Services Inc. grew its position in AAON by 20.8% during the fourth quarter. Hantz Financial Services Inc. now owns 1,052 shares of the construction company's stock valued at $80,000 after buying an additional 181 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of AAON by 0.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 46,843 shares of the construction company's stock worth $3,877,000 after buying an additional 201 shares during the period. 70.81% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, CEO Matthew Joseph Tobolski sold 8,000 shares of AAON stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total value of $1,082,960.00. Following the transaction, the chief executive officer directly owned 114,371 shares in the company, valued at $15,482,402.27. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary D. Fields sold 19,000 shares of the company's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $140.20, for a total transaction of $2,663,800.00. Following the transaction, the director owned 15,252 shares in the company, valued at $2,138,330.40. The trade was a 55.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 118,980 shares of company stock worth $16,361,330 over the last ninety days. Company insiders own 18.09% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on AAON. Zacks Research cut shares of AAON from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a "hold (c)" rating on shares of AAON in a research report on Tuesday, July 14th. KeyCorp began coverage on shares of AAON in a research report on Thursday. They issued a "sector weight" rating on the stock. Finally, Oppenheimer reissued an "outperform" rating on shares of AAON in a research note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, AAON currently has an average rating of "Moderate Buy" and a consensus target price of $112.00.
Read Our Latest Report on AAON
AAON Stock Performance
Shares of NASDAQ AAON opened at $102.67 on Friday. AAON, Inc. has a 12 month low of $62.00 and a 12 month high of $150.46. The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 71.80, a PEG ratio of 2.86 and a beta of 1.41. The company has a 50 day simple moving average of $125.19 and a two-hundred day simple moving average of $105.31.
AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.17. The firm had revenue of $496.94 million during the quarter, compared to analyst estimates of $381.08 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. The business's quarterly revenue was up 54.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. As a group, analysts predict that AAON, Inc. will post 2.24 earnings per share for the current year.
AAON Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, June 5th. AAON's dividend payout ratio (DPR) is 27.97%.
About AAON
(
Free Report)
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.
Further Reading
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