Barbara Oil Co. Acquires New Stake in AAON, Inc. $AAON

Key Points

• Barbara Oil Co. acquired 13,000 shares of AAON during the second quarter, valued at approximately $1.54 million. Institutional investors collectively own 70.81% of the company.
• Analysts maintain a cautiously positive outlook, with AAON carrying a consensus “Moderate Buy” rating and an average price target of $126.67, despite recent target cuts from Oppenheimer and Robert W. Baird.
• AAON reported strong quarterly results, posting $0.69 in EPS and $626.98 million in revenue, while revenue more than doubled year over year. The company also declared a $0.10 quarterly dividend, although insiders sold 47,403 shares worth about $6.66 million over the past 90 days.

Barbara Oil Co. purchased a new position in AAON, Inc. (NASDAQ:AAON - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,000 shares of the construction company's stock, valued at approximately $1,537,000.

Several other large investors also recently added to or reduced their stakes in AAON. EverSource Wealth Advisors LLC raised its stake in AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock worth $25,000 after purchasing an additional 164 shares during the period. Summit Securities Group LLC acquired a new position in shares of AAON in the 4th quarter worth approximately $45,000. Danske Bank A S acquired a new position in shares of AAON in the 3rd quarter worth approximately $47,000. Huntington National Bank boosted its position in shares of AAON by 21.1% during the 4th quarter. Huntington National Bank now owns 689 shares of the construction company's stock worth $53,000 after purchasing an additional 120 shares during the period. Finally, UMB Bank n.a. increased its holdings in AAON by 46.8% in the 4th quarter. UMB Bank n.a. now owns 885 shares of the construction company's stock valued at $67,000 after purchasing an additional 282 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. KeyCorp reissued a "sector weight" rating on shares of AAON in a research note on Thursday, August 13th. Weiss Ratings restated a "hold (c)" rating on shares of AAON in a research note 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. Oppenheimer dropped their price target on AAON from $145.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Finally, Robert W. Baird reduced their price objective on AAON from $150.00 to $135.00 and set an "outperform" rating for the company in a research note on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, AAON presently has a consensus rating of "Moderate Buy" and an average target price of $126.67.

AAON Price Performance

Shares of AAON opened at $79.44 on Monday. 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. The firm has a 50-day simple moving average of $106.43 and a 200-day simple moving average of $105.35. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 41.38, a price-to-earnings-growth ratio of 1.50 and a beta of 1.45.

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

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. AAON's payout ratio is presently 20.83%.

Insider Buying and Selling at AAON

In related news, EVP Gordon Douglas Wichman sold 3,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.39, for a total transaction of $421,170.00. Following the sale, the executive vice president owned 10,997 shares of the company's stock, valued at approximately $1,543,868.83. The trade was a 21.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca Thompson sold 4,230 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $143.42, for a total transaction of $606,666.60. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 47,403 shares of company stock valued at $6,663,055. 18.09% of the stock is owned by corporate insiders.

AAON Company 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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