Envestnet Asset Management Inc. Sells 27,320 Shares of AAON, Inc. (NASDAQ:AAON)

Envestnet Asset Management Inc. cut its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 8.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,558 shares of the construction company's stock after selling 27,320 shares during the period. Envestnet Asset Management Inc. owned 0.39% of AAON worth $24,498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAON. Vanguard Group Inc. increased its position in AAON by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company's stock worth $734,262,000 after buying an additional 75,832 shares during the period. Invesco Ltd. increased its position in AAON by 15.6% in the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock worth $239,184,000 after buying an additional 274,119 shares during the period. Geode Capital Management LLC increased its position in AAON by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company's stock worth $145,692,000 after buying an additional 3,644 shares during the period. Blair William & Co. IL increased its position in AAON by 4.2% in the 4th quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company's stock worth $137,660,000 after buying an additional 47,254 shares during the period. Finally, Bank of New York Mellon Corp increased its position in AAON by 39.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,101,692 shares of the construction company's stock worth $86,075,000 after buying an additional 312,855 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other AAON news, CEO Gary D. Fields sold 8,357 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $98.66, for a total value of $824,501.62. Following the completion of the sale, the chief executive officer directly owned 26,491 shares in the company, valued at $2,613,602.06. This trade represents a 23.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 transaction of $2,225,632.96. Following the transaction, the director owned 8,754 shares of the company's stock, valued at $914,617.92. The trade was a 70.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,823 shares of company stock worth $7,122,451 over the last three months. 18.70% of the stock is owned by insiders.

AAON Stock Down 1.0%

AAON stock traded down $0.77 during mid-day trading on Friday, reaching $78.69. 2,237,080 shares of the company traded hands, compared to its average volume of 693,607. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 41.42 and a beta of 0.95. The company has a quick ratio of 1.80, a current ratio of 2.77 and a debt-to-equity ratio of 0.29. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07. The firm's 50 day moving average price is $85.25 and its 200 day moving average price is $93.64.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.13. AAON had a net margin of 12.60% and a return on equity of 20.23%. The company had revenue of $322.05 million for the quarter, compared to analysts' expectations of $289.16 million. During the same quarter in the previous year, the firm posted $0.46 EPS. AAON's revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts predict that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. AAON's payout ratio is presently 21.05%.

Analysts Set New Price Targets

Several analysts recently commented on AAON shares. Wall Street Zen lowered AAON from a "hold" rating to a "sell" rating in a research note on Friday. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective for the company in a report on Monday, June 16th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $111.50.

AAON Company Profile

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.