First Trust Advisors LP Buys 364,101 Shares of AAON, Inc. $AAON

Key Points

• First Trust Advisors LP increased its AAON position by 22.1% in the first quarter, buying 364,101 additional shares and bringing its total stake to 2,013,215 shares worth about $166.6 million.
• AAON’s latest quarterly results beat expectations, with EPS of $0.48 versus $0.31 expected and revenue of $496.94 million, up 54.3% year over year.
• Analysts currently rate the stock a Moderate Buy with an average price target of $112, though some firms have recently downgraded or reiterated hold ratings; the company also paid a $0.10 quarterly dividend.

First Trust Advisors LP raised its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 22.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,013,215 shares of the construction company's stock after acquiring an additional 364,101 shares during the quarter. First Trust Advisors LP owned approximately 2.46% of AAON worth $166,594,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AAON. EverSource Wealth Advisors LLC lifted 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 worth $25,000 after purchasing an additional 164 shares in the last quarter. Summit Securities Group LLC purchased a new position in AAON in the fourth quarter worth about $45,000. Danske Bank A S purchased a new stake in AAON during the 3rd quarter valued at $47,000. Huntington National Bank raised its stake in shares of AAON by 21.1% in the fourth quarter. Huntington National Bank now owns 689 shares of the construction company's stock valued at $53,000 after acquiring an additional 120 shares during the period. Finally, UMB Bank n.a. lifted its stake in AAON by 46.8% in the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company's stock worth $67,000 after purchasing an additional 282 shares during the last quarter. 70.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on AAON. Zacks Research downgraded shares of AAON from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Weiss Ratings restated a "hold (c)" rating on shares of AAON in a research report on Tuesday, July 14th. Finally, Oppenheimer reiterated an "outperform" rating on shares of AAON in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, AAON has an average rating of "Moderate Buy" and an average price target of $112.00.

Insider Buying and Selling at AAON

In related news, Director Gary D. Fields sold 19,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $140.20, for a total value of $2,663,800.00. Following the transaction, the director directly owned 15,252 shares of the company's stock, valued at approximately $2,138,330.40. This trade represents a 55.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gordon Douglas Wichman sold 3,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.39, for a total value of $421,170.00. Following the transaction, the executive vice president owned 10,997 shares in the company, valued at approximately $1,543,868.83. This represents a 21.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 140,894 shares of company stock worth $18,557,332. 18.09% of the stock is currently owned by company insiders.

AAON Stock Performance

Shares of AAON stock opened at $107.17 on Thursday. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 74.94, a PEG ratio of 2.96 and a beta of 1.41. The firm's fifty day simple moving average is $126.49 and its 200-day simple moving average is $105.12. 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, Inc. has a 12 month low of $62.00 and a 12 month high of $150.46.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.17. AAON had a net margin of 7.30% and a return on equity of 13.67%. The firm had revenue of $496.94 million during the quarter, compared to analysts' expectations of $381.08 million. During the same period in the prior year, the company posted $0.37 earnings per share. The firm's revenue for the quarter was up 54.3% on a year-over-year basis. As a group, equities analysts forecast that AAON, Inc. will post 2.23 earnings per share for the current year.

AAON Dividend Announcement

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

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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