AAON, Inc. (NASDAQ:AAON) Stock Holdings Boosted by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. raised its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,547 shares of the construction company's stock after purchasing an additional 3,787 shares during the quarter. Ferguson Wellman Capital Management Inc. owned 0.15% of AAON worth $9,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAON. Norges Bank acquired a new stake in AAON in the fourth quarter valued at approximately $76,581,000. Raymond James Financial Inc. purchased a new position in AAON in the fourth quarter valued at $73,313,000. First Trust Advisors LP increased its stake in shares of AAON by 85.6% during the fourth quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company's stock worth $125,813,000 after purchasing an additional 493,219 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of AAON during the fourth quarter worth about $42,449,000. Finally, Invesco Ltd. boosted its position in AAON by 15.6% during the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock worth $239,184,000 after acquiring an additional 274,119 shares during the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Stock Down 1.6%

NASDAQ AAON traded down $1.16 on Friday, hitting $72.99. 1,011,451 shares of the stock traded hands, compared to its average volume of 677,867. The stock has a 50-day moving average of $91.64 and a 200 day moving average of $102.53. AAON, Inc. has a twelve month low of $68.98 and a twelve month high of $144.07. The company has a market capitalization of $5.94 billion, a P/E ratio of 32.15 and a beta of 1.03. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.13. The business had revenue of $322.05 million for the quarter, compared to analysts' expectations of $289.16 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The business's quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS. As a group, analysts expect that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, June 6th. AAON's payout ratio is 21.05%.

AAON declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 4th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the construction company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AAON. DA Davidson lowered their price objective on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Robert W. Baird reduced their price objective on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Wall Street Zen cut AAON from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, CJS Securities raised AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $115.50.

Insider Transactions at AAON

In related news, CEO Gary D. Fields sold 8,357 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $98.66, for a total value of $824,501.62. Following the completion of the transaction, the chief executive officer now directly owns 26,491 shares of the company's stock, valued at $2,613,602.06. This represents a 23.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gordon Douglas Wichman sold 21,302 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total value of $2,225,632.96. Following the completion of the transaction, the director now directly owns 8,754 shares of the company's stock, valued at $914,617.92. This trade represents a 70.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,823 shares of company stock worth $7,122,451. 18.70% of the stock is currently owned by company insiders.

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.