Bridges Investment Management Inc. Acquires 13,431 Shares of AAON, Inc. (NASDAQ:AAON)

Bridges Investment Management Inc. boosted its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 111.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,503 shares of the construction company's stock after buying an additional 13,431 shares during the period. Bridges Investment Management Inc.'s holdings in AAON were worth $1,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in AAON by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company's stock valued at $734,262,000 after buying an additional 75,832 shares in the last quarter. Invesco Ltd. boosted its stake in AAON by 15.6% in the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock valued at $239,184,000 after buying an additional 274,119 shares in the last quarter. Geode Capital Management LLC boosted its stake in AAON by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company's stock valued at $145,692,000 after buying an additional 3,644 shares in the last quarter. Blair William & Co. IL boosted its stake in AAON by 4.2% in the 4th quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company's stock valued at $137,660,000 after buying an additional 47,254 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in AAON by 39.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,101,692 shares of the construction company's stock valued at $86,075,000 after buying an additional 312,855 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors.

AAON Trading Down 3.1%

AAON stock traded down $2.45 during mid-day trading on Friday, hitting $77.54. The stock had a trading volume of 823,174 shares, compared to its average volume of 672,035. The stock has a 50-day simple moving average of $87.92 and a two-hundred day simple moving average of $95.50. The stock has a market capitalization of $6.31 billion, a PE ratio of 40.81 and a beta of 0.95. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29.

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

AAON Dividend Announcement

The business 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. This represents a $0.40 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, June 6th. AAON's payout ratio is 21.05%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AAON shares. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a report on Monday, June 16th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, AAON has a consensus rating of "Buy" and a consensus price target of $111.50.

Insider Activity

In other news, Director Gordon Douglas Wichman sold 21,302 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the sale, the director owned 8,754 shares of the company's stock, valued at $914,617.92. This trade represents a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary D. Fields sold 37,189 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total value of $3,651,959.80. Following the sale, the chief executive officer directly owned 63,714 shares in the company, valued at approximately $6,256,714.80. This represents a 36.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,823 shares of company stock worth $7,122,451 in the last three months. 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.