Bar Harbor Wealth Management Sells 11,323 Shares of AAON, Inc. $AAON

Key Points

• Bar Harbor Wealth Management sold 11,323 shares, reducing its AAON stake by 10.3% to 98,087 shares valued at about $7.48 million; institutional investors collectively own 70.81% of the company.
• Insider Casey Kidwell sold 5,225 shares at an average price of $90, cutting their ownership by 29.21%; insiders now hold 18.70% of AAON.
• AAON reported quarterly EPS of $0.39 (missed consensus $0.45) while revenue jumped 42.5% to $424.22 million; the stock has a market cap of $7.6 billion, a P/E of 71.67, and a consensus analyst rating of Moderate Buy with a $107.75 target.

Bar Harbor Wealth Management lessened its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 10.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,087 shares of the construction company's stock after selling 11,323 shares during the quarter. Bar Harbor Wealth Management owned about 0.12% of AAON worth $7,479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAON. Millennium Management LLC boosted its position in shares of AAON by 429.3% during the 1st quarter. Millennium Management LLC now owns 81,145 shares of the construction company's stock worth $6,340,000 after purchasing an additional 65,813 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of AAON by 1.8% in the 1st quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company's stock worth $1,271,000 after acquiring an additional 294 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of AAON by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company's stock worth $33,669,000 after acquiring an additional 73,644 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of AAON by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company's stock worth $18,204,000 after acquiring an additional 12,489 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings 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 acquiring an additional 164 shares during the last quarter. Institutional investors own 70.81% of the company's stock.

Insider Buying and Selling

In related news, insider Casey Kidwell sold 5,225 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $90.00, for a total transaction of $470,250.00. Following the sale, the insider owned 12,662 shares of the company's stock, valued at $1,139,580. The trade was a 29.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 18.70% of the stock is owned by insiders.

AAON Price Performance

Shares of NASDAQ AAON opened at $93.17 on Friday. AAON, Inc. has a 1 year low of $62.00 and a 1 year high of $116.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.63 and a quick ratio of 1.84. The company's 50-day moving average is $91.19 and its 200 day moving average is $91.13. The stock has a market capitalization of $7.60 billion, a P/E ratio of 71.67, a P/E/G ratio of 2.81 and a beta of 1.20.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The construction company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). AAON had a net margin of 7.46% and a return on equity of 13.13%. The company had revenue of $424.22 million for the quarter, compared to analysts' expectations of $374.10 million. During the same quarter in the prior year, the firm earned $0.30 EPS. AAON's quarterly revenue was up 42.5% compared to the same quarter last year. On average, sell-side analysts expect that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Wednesday, March 18th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.4%. AAON's payout ratio is presently 30.77%.

Analysts Set New Price Targets

Several research firms have commented on AAON. DA Davidson reiterated a "buy" rating and issued a $120.00 price objective on shares of AAON in a research note on Tuesday, February 3rd. Oppenheimer reissued an "outperform" rating and set a $118.00 target price (up from $115.00) on shares of AAON in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a research note on Wednesday, January 21st. William Blair reiterated an "outperform" rating on shares of AAON in a research note on Monday, March 2nd. Finally, Wall Street Zen raised shares of AAON from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, AAON presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.75.

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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