Diversified Trust Co Makes New Investment in AAON, Inc. $AAON

Key Points

• Diversified Trust Co has made a new investment in AAON, Inc. by purchasing 9,863 shares valued at approximately $727,000 during the second quarter.
• Institutional ownership of AAON is substantial, with 70.81% of the stock held by investors, including significant increases in positions by Swedbank AB and Voya Investment Management.
• AAON recently missed earnings expectations, reporting $0.22 EPS against a consensus of $0.31, and its revenue decreased by 0.6% year-over-year.

Diversified Trust Co purchased a new position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,863 shares of the construction company's stock, valued at approximately $727,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Swedbank AB grew its stake in shares of AAON by 67.4% during the 2nd quarter. Swedbank AB now owns 216,000 shares of the construction company's stock worth $15,930,000 after purchasing an additional 87,000 shares during the period. Parallel Advisors LLC grew its stake in AAON by 79.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,285 shares of the construction company's stock valued at $95,000 after acquiring an additional 569 shares during the last quarter. Voya Investment Management LLC grew its stake in AAON by 333.8% in the 1st quarter. Voya Investment Management LLC now owns 392,841 shares of the construction company's stock valued at $30,693,000 after acquiring an additional 302,282 shares during the last quarter. Inspire Investing LLC grew its stake in AAON by 50.5% in the 1st quarter. Inspire Investing LLC now owns 8,390 shares of the construction company's stock valued at $656,000 after acquiring an additional 2,817 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its stake in AAON by 9.0% in the 1st quarter. Belpointe Asset Management LLC now owns 5,790 shares of the construction company's stock valued at $452,000 after acquiring an additional 480 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

AAON Stock Up 1.5%

Shares of NASDAQ AAON opened at $92.94 on Tuesday. AAON, Inc. has a 1 year low of $62.00 and a 1 year high of $144.07. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 63.22 and a beta of 1.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10. The stock's 50-day simple moving average is $81.87 and its 200-day simple moving average is $83.83.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The construction company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.09). The company had revenue of $311.57 million during the quarter, compared to analyst estimates of $326.15 million. AAON had a net margin of 9.70% and a return on equity of 15.45%. The company's revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, equities analysts anticipate that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.40 annualized dividend and a yield of 0.4%. AAON's dividend payout ratio is currently 27.21%.

Insider Buying and Selling at AAON

In other AAON news, CFO Rebecca Thompson sold 9,350 shares of the business's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $81.09, for a total transaction of $758,191.50. Following the completion of the sale, the chief financial officer owned 24,396 shares in the company, valued at $1,978,271.64. The trade was a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Douglas Eason sold 12,003 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the sale, the insider owned 5,301 shares of the company's stock, valued at approximately $451,009.08. The trade was a 69.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.55% of the company's stock.

Analysts Set New Price Targets

AAON has been the topic of several analyst reports. Robert W. Baird decreased their price target on shares of AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Sidoti upgraded shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target for the company in a report on Monday, June 16th. DA Davidson lowered their price target on shares of AAON from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of AAON from a "hold" rating to a "strong sell" rating in a report on Sunday, August 17th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to MarketBeat.com, AAON currently has an average rating of "Buy" and a consensus target price of $102.00.

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.

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