Bessemer Group Inc. Sells 9,510 Shares of AAON, Inc. $AAON

Key Points

• Bessemer Group Inc. reduced its AAON stake by 49.1% in the first quarter, selling 9,510 shares and ending with 9,878 shares valued at about $817,000.
• AAON reported stronger-than-expected results for the latest quarter, with EPS of $0.48 and revenue of $496.94 million, both well above analyst estimates; revenue also rose 54.3% year over year.
• Insider selling has been notable, including transactions by the CEO and another insider, while analysts currently hold a consensus rating of “Moderate Buy” with an average target price of $112.00.

Bessemer Group Inc. cut its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 49.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,878 shares of the construction company's stock after selling 9,510 shares during the quarter. Bessemer Group Inc.'s holdings in AAON were worth $817,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAON. EverSource Wealth Advisors LLC lifted its stake in shares of AAON by 96.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after buying an additional 164 shares in the last quarter. Danske Bank A S bought a new stake in shares of AAON during the 3rd quarter valued at $47,000. Summit Securities Group LLC bought a new stake in shares of AAON during the 4th quarter valued at $45,000. Huntington National Bank lifted its holdings in 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 in the last quarter. Finally, UMB Bank n.a. boosted its stake in AAON by 46.8% in the 4th quarter. UMB Bank n.a. now owns 885 shares of the construction company's stock worth $67,000 after purchasing an additional 282 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Trading Up 0.5%

Shares of AAON stock opened at $107.68 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.75. AAON, Inc. has a 1 year low of $62.00 and a 1 year high of $150.46. The firm has a market cap of $8.82 billion, a PE ratio of 75.30, a PEG ratio of 2.98 and a beta of 1.41. The company has a 50 day simple moving average of $125.85 and a two-hundred day simple moving average of $105.33.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.17. The firm had revenue of $496.94 million for 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 revenue for the quarter was up 54.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 EPS. Analysts expect that AAON, Inc. will post 2.25 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently declared 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 is currently 27.97%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AAON. Oppenheimer reaffirmed an "outperform" rating on shares of AAON in a report on Friday, May 8th. Zacks Research downgraded shares of AAON from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Weiss Ratings restated a "hold (c)" rating on shares of AAON in a research report on Tuesday, July 14th. Finally, KeyCorp assumed coverage on shares of AAON in a report on Thursday. They issued a "sector weight" rating on the stock. 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $112.00.

Insider Buying and Selling at AAON

In related news, insider Casey Kidwell sold 3,153 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $138.30, for a total value of $436,059.90. Following the sale, the insider owned 13,463 shares in the company, valued at $1,861,932.90. This represents a 18.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthew Joseph Tobolski sold 8,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total transaction of $1,082,960.00. Following the sale, the chief executive officer owned 114,371 shares in the company, valued at approximately $15,482,402.27. The trade was a 6.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 118,980 shares of company stock worth $16,361,330 over the last three months. 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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