Capital International Investors Decreases Holdings in AAON, Inc. $AAON

Key Points

• Capital International Investors cut its AAON stake by 9.7% in the fourth quarter, selling 142,911 shares and ending with 1.33 million shares worth about $101.3 million.
• AAON reported strong quarterly results, with EPS of $0.48 beating estimates of $0.31 and revenue of $496.94 million topping expectations; revenue rose 54.3% year over year.
• The company also announced a quarterly dividend of $0.10 per share, while analysts currently rate the stock a consensus Buy with an average target price of $107.75.

Capital International Investors reduced its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,328,881 shares of the construction company's stock after selling 142,911 shares during the period. Capital International Investors owned approximately 1.63% of AAON worth $101,327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAON. Millennium Management LLC lifted its stake in shares of AAON by 429.3% during the first 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 lifted its stake in shares of AAON by 1.8% during the first quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company's stock worth $1,271,000 after purchasing an additional 294 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of AAON by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company's stock worth $33,669,000 after purchasing an additional 73,644 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of AAON by 5.7% during the first 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 purchasing an additional 12,489 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

AAON Stock Down 0.4%

NASDAQ:AAON opened at $132.05 on Tuesday. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 92.34, a price-to-earnings-growth ratio of 3.71 and a beta of 1.39. AAON, Inc. has a one year low of $62.00 and a one year high of $150.46. The stock has a 50-day simple moving average of $111.69 and a 200 day simple moving average of $96.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62.

AAON (NASDAQ:AAON - Get Free Report) last posted 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 business had revenue of $496.94 million during the quarter, compared to the consensus estimate of $381.08 million. AAON had a return on equity of 13.67% and a net margin of 7.30%.The company's revenue for the quarter was up 54.3% compared to the same quarter last year. During the same period last year, the firm earned $0.37 earnings per share. Sell-side analysts predict that AAON, Inc. will post 2.23 EPS for the current fiscal year.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, June 5th. AAON's dividend payout ratio (DPR) is 27.97%.

Insider Transactions at AAON

In related news, Director Gary D. Fields sold 31,271 shares of AAON stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $134.07, for a total value of $4,192,502.97. Following the completion of the transaction, the director directly owned 34,252 shares in the company, valued at approximately $4,592,165.64. This trade represents a 47.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Casey Kidwell sold 5,225 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $90.00, for a total transaction of $470,250.00. Following the completion of the transaction, the insider directly owned 12,662 shares in the company, valued at $1,139,580. This represents a 29.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 155,698 shares of company stock valued at $19,986,463 over the last ninety days. 18.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AAON has been the topic of a number of recent research reports. Wall Street Zen upgraded AAON from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Oppenheimer restated an "outperform" rating on shares of AAON in a research note on Friday, May 8th. Zacks Research upgraded AAON from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 11th. Finally, William Blair restated an "outperform" rating on shares of AAON in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, AAON currently has an average rating of "Buy" and an average 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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