GAMMA Investing LLC Boosts Position in AAON, Inc. (NASDAQ:AAON)

GAMMA Investing LLC raised its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 7,187.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,226 shares of the construction company's stock after buying an additional 117,590 shares during the period. GAMMA Investing LLC owned about 0.15% of AAON worth $9,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in shares of AAON by 6.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company's stock valued at $455,000 after acquiring an additional 244 shares during the period. JPMorgan Chase & Co. grew its holdings in AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock valued at $351,615,000 after purchasing an additional 150,207 shares during the period. American Century Companies Inc. increased its position in AAON by 19.3% in the fourth quarter. American Century Companies Inc. now owns 68,760 shares of the construction company's stock worth $8,092,000 after buying an additional 11,140 shares in the last quarter. Savant Capital LLC purchased a new position in shares of AAON during the 4th quarter valued at about $884,000. Finally, Empowered Funds LLC bought a new position in shares of AAON during the 4th quarter valued at approximately $42,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AAON

In related news, CEO Gary D. Fields sold 37,189 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the transaction, the chief executive officer now directly owns 63,714 shares in the company, valued at approximately $6,256,714.80. This represents a 36.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gordon Douglas Wichman sold 3,975 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $105.75, for a total transaction of $420,356.25. Following the completion of the sale, the director now directly owns 8,754 shares of the company's stock, valued at approximately $925,735.50. The trade was a 31.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,823 shares of company stock worth $7,122,451 in the last three months. Insiders own 18.70% of the company's stock.

AAON Price Performance

Shares of NASDAQ:AAON traded up $1.83 during mid-day trading on Friday, reaching $96.68. The stock had a trading volume of 658,877 shares, compared to its average volume of 657,501. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The company has a market cap of $7.87 billion, a P/E ratio of 42.59 and a beta of 1.03. AAON, Inc. has a 1 year low of $68.98 and a 1 year high of $144.07. The business's 50 day moving average price is $91.37 and its 200 day moving average price is $104.79.

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

AAON announced that its Board of Directors has initiated a share buyback program on Tuesday, March 4th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be paid a $0.10 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.41%. AAON's payout ratio is currently 21.05%.

Analysts Set New Price Targets

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

AAON 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.