Empowered Funds LLC Takes $1.31 Million Position in AAON, Inc. $AAON

Key Points

• Empowered Funds LLC acquired 15,855 AAON shares worth approximately $1.31 million in the first quarter. Other institutional investors, including Millennium Management and Goldman Sachs, also increased their holdings, with institutions owning 70.81% of the stock.
• AAON reported strong quarterly results, with revenue rising 54.3% year over year to $496.94 million and EPS of $0.48, beating estimates of $0.31. The company also declared a quarterly dividend of $0.10 per share, or $0.40 annualized.
• Insiders sold 108,908 shares worth about $15 million over the past three months, while AAON trades at a relatively high 66.31 P/E ratio. Analysts maintain a “Moderate Buy” consensus with an average price target of $112.

Empowered Funds LLC bought a new position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,855 shares of the construction company's stock, valued at approximately $1,312,000.

Several other large investors have also recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings 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 acquiring an additional 65,813 shares during the period. NewEdge Advisors LLC lifted its holdings in AAON by 1.8% during the 1st 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 during the last quarter. Goldman Sachs Group Inc. boosted its stake in AAON by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company's stock valued at $33,669,000 after purchasing an additional 73,644 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in AAON by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company's stock valued at $18,204,000 after purchasing an additional 12,489 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in AAON by 96.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after buying an additional 164 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Insider Transactions at AAON

In other news, insider Casey Kidwell sold 3,153 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $138.30, for a total value of $436,059.90. Following the sale, the insider directly owned 13,463 shares in the company, valued at approximately $1,861,932.90. This trade represents a 18.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Joseph Tobolski sold 8,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total transaction of $1,082,960.00. Following the completion of the transaction, the chief executive officer directly owned 114,371 shares of the company's stock, valued at approximately $15,482,402.27. The trade was a 6.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 108,908 shares of company stock valued at $15,000,124. 18.09% of the stock is owned by company insiders.

AAON Stock Up 5.0%

NASDAQ AAON opened at $94.83 on Friday. The business has a fifty day moving average price of $116.39 and a two-hundred day moving average price of $105.84. The stock has a market capitalization of $7.77 billion, a PE ratio of 66.31, a PEG ratio of 2.64 and a beta of 1.45. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $150.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.75.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.17. The company had revenue of $496.94 million for the quarter, compared to analyst estimates 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 quarter last year, the company posted $0.37 EPS. Equities analysts expect that AAON, Inc. will post 2.24 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.40 annualized dividend and a yield of 0.4%. AAON's payout ratio is presently 27.97%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AAON shares. KeyCorp started coverage on AAON in a research report on Thursday, July 23rd. They set a "sector weight" rating on the stock. Oppenheimer restated an "outperform" rating on shares of AAON in a research note on Friday, May 8th. Zacks Research cut shares of AAON from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of AAON in a report on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $112.00.

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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