CENTRAL TRUST Co Decreases Stock Holdings in AAON, Inc. (NASDAQ:AAON)

CENTRAL TRUST Co lowered its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 74.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,872 shares of the construction company's stock after selling 17,387 shares during the period. CENTRAL TRUST Co's holdings in AAON were worth $459,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AAON. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of AAON in the fourth quarter valued at about $210,000. PNC Financial Services Group Inc. boosted its holdings in AAON by 6.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company's stock valued at $455,000 after acquiring an additional 244 shares during the last quarter. Parallel Advisors LLC lifted its position in AAON by 26.3% during the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock valued at $56,000 after buying an additional 149 shares in the last quarter. CHICAGO TRUST Co NA acquired a new position in shares of AAON during the first quarter worth about $333,000. Finally, American Century Companies Inc. boosted its holdings in AAON by 19.3% in the 4th quarter. American Century Companies Inc. now owns 68,760 shares of the construction company's stock worth $8,092,000 after acquiring an additional 11,140 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Gary D. Fields sold 37,189 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the transaction, the chief executive officer now owns 63,714 shares in the company, valued at $6,256,714.80. The trade was a 36.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gordon Douglas Wichman sold 21,302 shares of AAON stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total value of $2,225,632.96. Following the transaction, the director now directly owns 8,754 shares in the company, valued at approximately $914,617.92. The trade was a 70.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,823 shares of company stock valued at $7,122,451. 18.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on AAON shares. DA Davidson lowered their price objective on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a report on Friday, February 28th. Robert W. Baird dropped their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Sidoti upgraded shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target on the stock in a research report on Monday. CJS Securities upgraded AAON from a "market perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Friday, February 28th. Finally, Wall Street Zen cut AAON from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $111.50.

AAON Trading Up 0.4%

Shares of AAON traded up $0.31 during trading hours on Friday, reaching $72.09. The stock had a trading volume of 773,126 shares, compared to its average volume of 681,067. AAON, Inc. has a 52 week low of $68.98 and a 52 week high of $144.07. The company has a quick ratio of 1.80, a current ratio of 2.77 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $91.09 and a 200 day moving average of $101.27. The company has a market cap of $5.87 billion, a P/E ratio of 37.94 and a beta of 1.03.

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

AAON announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. AAON's payout ratio is presently 21.05%.

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.