Comerica Bank Acquires 45,660 Shares of AAON, Inc. $AAON

Key Points

• Comerica Bank increased its stake in AAON by 23.7%, acquiring 45,660 shares to own 238,462 shares valued at $18.18 million (about 0.29% of the company).
• AAON reported revenue of $424.22 million (up 42.5% YoY) but missed EPS expectations ($0.39 vs. $0.45), and the stock was down 8.0% with a market cap of $7.48 billion and a P/E of 70.49.
• Insiders sold 36,718 shares (~$3.63 million) over the last quarter while institutional investors hold roughly 70.8% of the stock, and analysts rate AAON a "Moderate Buy" with an average target of $107.75.

Comerica Bank grew its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 23.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 238,462 shares of the construction company's stock after acquiring an additional 45,660 shares during the quarter. Comerica Bank owned 0.29% of AAON worth $18,183,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AAON. Wellington Management Group LLP boosted its position in shares of AAON by 512.5% in the third quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company's stock valued at $442,896,000 after acquiring an additional 3,966,088 shares during the period. Champlain Investment Partners LLC boosted its position in shares of AAON by 96.4% in the third quarter. Champlain Investment Partners LLC now owns 2,320,319 shares of the construction company's stock valued at $216,811,000 after acquiring an additional 1,138,658 shares during the period. First Trust Advisors LP boosted its position in shares of AAON by 136.4% in the third quarter. First Trust Advisors LP now owns 1,933,595 shares of the construction company's stock valued at $180,675,000 after acquiring an additional 1,115,566 shares during the period. Copeland Capital Management LLC bought a new stake in shares of AAON in the third quarter valued at approximately $68,036,000. Finally, Bamco Inc. NY bought a new stake in shares of AAON in the third quarter valued at approximately $67,922,000. 70.81% of the stock is owned by institutional investors.

AAON Stock Down 8.0%

Shares of AAON stock opened at $91.64 on Tuesday. The stock has a market cap of $7.48 billion, a P/E ratio of 70.49, a price-to-earnings-growth ratio of 3.11 and a beta of 1.20. AAON, Inc. has a one year low of $62.00 and a one year high of $116.04. The stock has a fifty day moving average price of $90.66 and a 200 day moving average price of $90.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.63 and a quick ratio of 1.84.

AAON (NASDAQ:AAON - Get Free Report) last issued its earnings results on Monday, March 2nd. The construction company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.06). The firm had revenue of $424.22 million during the quarter, compared to the consensus estimate of $374.10 million. AAON had a return on equity of 13.13% and a net margin of 7.46%.The firm's revenue for the quarter was up 42.5% compared to the same quarter last year. During the same period last year, the business earned $0.30 earnings per share. Analysts predict that AAON, Inc. will post 2 earnings per share for the current year.

AAON Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Wednesday, March 18th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, March 18th. AAON's dividend payout ratio is currently 30.77%.

Insider Buying and Selling at AAON

In other AAON news, CAO Rebecca Thompson sold 21,914 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $100.21, for a total transaction of $2,196,001.94. Following the completion of the transaction, the chief accounting officer directly owned 27,681 shares in the company, valued at $2,773,913.01. This represents a 44.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Casey Kidwell sold 5,225 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $90.00, for a total value of $470,250.00. Following the transaction, the insider owned 12,662 shares of the company's stock, valued at $1,139,580. This represents a 29.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 36,718 shares of company stock valued at $3,625,133 over the last quarter. Corporate insiders own 18.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AAON shares. Oppenheimer reissued an "outperform" rating and issued a $118.00 price objective (up from $115.00) on shares of AAON in a research report on Tuesday, March 3rd. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. William Blair reaffirmed an "outperform" rating on shares of AAON in a research report on Monday, March 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AAON in a research report on Wednesday, January 21st. Finally, DA Davidson reaffirmed a "buy" rating and issued a $120.00 target price on shares of AAON in a research report on Tuesday, February 3rd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $107.75.

About AAON

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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