Bridges Investment Management Inc. Raises Stock Holdings in AAON, Inc. $AAON

Key Points

• Bridges Investment Management Inc. increased its stake in AAON, Inc. by 15.5% to a total of 29,445 shares, worth approximately $2.17 million as of the latest reporting period.
• AAON's stock underwent recent rating changes from various analysts, with Zacks upgrading it to a "hold" rating while others, like Wall Street Zen, downgraded it to a "strong sell" rating.
• The company announced a quarterly dividend of $0.10 per share and reported a market capitalization of approximately $8.16 billion, reflecting an ongoing interest from institutional investors, who hold 70.81% of the company's stock.

Bridges Investment Management Inc. boosted its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 15.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,445 shares of the construction company's stock after purchasing an additional 3,942 shares during the period. Bridges Investment Management Inc.'s holdings in AAON were worth $2,172,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AAON. PFG Advisors increased its holdings in shares of AAON by 114.8% in the 1st quarter. PFG Advisors now owns 20,836 shares of the construction company's stock valued at $1,628,000 after acquiring an additional 11,136 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of AAON during the 1st quarter valued at approximately $789,000. Wealth Enhancement Advisory Services LLC raised its position in shares of AAON by 1,485.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,329 shares of the construction company's stock valued at $2,213,000 after acquiring an additional 26,542 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of AAON by 49.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,197 shares of the construction company's stock valued at $250,000 after acquiring an additional 1,054 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of AAON during the 1st quarter valued at approximately $245,000. Institutional investors own 70.81% of the company's stock.

Insider Activity at AAON

In related news, insider Christopher Douglas Eason sold 12,003 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $85.08, for a total value of $1,021,215.24. Following the sale, the insider directly owned 5,301 shares in the company, valued at $451,009.08. This trade represents a 69.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rebecca Thompson sold 9,350 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $81.09, for a total value of $758,191.50. Following the completion of the sale, the chief financial officer owned 24,396 shares in the company, valued at approximately $1,978,271.64. This represents a 27.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAON has been the topic of several research reports. Zacks Research raised AAON from a "strong sell" rating to a "hold" rating in a research report on Monday. Weiss Ratings reissued a "hold (c)" rating on shares of AAON in a research report on Wednesday, October 8th. Robert W. Baird cut their price target on AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Wall Street Zen downgraded AAON from a "hold" rating to a "strong sell" rating in a report on Sunday, August 17th. Finally, Oppenheimer raised their price target on AAON from $105.00 to $112.00 and gave the stock an "outperform" rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, AAON currently has an average rating of "Moderate Buy" and an average price target of $104.00.

AAON Trading Down 4.0%

Shares of NASDAQ AAON opened at $100.05 on Friday. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 68.06 and a beta of 1.05. AAON, Inc. has a 12-month low of $62.00 and a 12-month high of $144.07. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. The stock's 50 day simple moving average is $88.37 and its 200 day simple moving average is $85.91.

AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Tuesday, June 10th. The construction company reported $0.37 EPS for the quarter. AAON had a return on equity of 15.45% and a net margin of 9.70%.The firm had revenue of $322.05 million for the quarter. Equities research analysts expect that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, September 5th. AAON's dividend payout ratio (DPR) is currently 27.21%.

AAON Company Profile

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.

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