Geode Capital Management LLC Has $105.34 Million Stake in AAON, Inc. $AAON

Key Points

• Geode Capital Management increased its AAON stake by 1.5% in the fourth quarter, ending with 1.38 million shares valued at about $105.34 million. Institutional investors still hold a large majority of the stock, at 70.81%.
• AAON reported a strong quarter, posting $0.48 EPS versus the $0.31 estimate and $496.94 million in revenue, well above expectations. Revenue jumped 54.3% year over year, and analysts now expect full-year EPS of 2.23.
• The company also announced a quarterly dividend of $0.10 per share, while insiders have been selling shares recently, including CEO Matthew Joseph Tobolski and EVP Gordon Douglas Wichman. Over the last 90 days, insiders sold 155,698 shares worth nearly $20 million.

Geode Capital Management LLC lifted its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,381,303 shares of the construction company's stock after purchasing an additional 20,588 shares during the quarter. Geode Capital Management LLC owned 1.69% of AAON worth $105,343,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of AAON. EverSource Wealth Advisors LLC grew its holdings in AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock worth $25,000 after buying an additional 164 shares in the last quarter. CBIZ Investment Advisory Services LLC bought a new stake in AAON during the third quarter worth $26,000. Jones Financial Companies Lllp grew its holdings in AAON by 59.5% during the third quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company's stock worth $34,000 after buying an additional 141 shares in the last quarter. Danske Bank A S bought a new stake in AAON during the third quarter worth $47,000. Finally, Huntington National Bank grew its holdings in AAON by 27.0% during the third quarter. Huntington National Bank now owns 569 shares of the construction company's stock worth $53,000 after buying an additional 121 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. William Blair reiterated an "outperform" rating on shares of AAON in a report on Monday, March 2nd. Oppenheimer reiterated an "outperform" rating on shares of AAON in a report on Friday, May 8th. Wall Street Zen upgraded AAON from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Finally, Zacks Research raised AAON from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $107.75.

Insider Transactions at AAON

In other AAON news, CEO Matthew Joseph Tobolski sold 8,000 shares of the business's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $135.37, for a total value of $1,082,960.00. Following the sale, the chief executive officer directly owned 114,371 shares in the company, valued at $15,482,402.27. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gordon Douglas Wichman sold 3,000 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.39, for a total value of $421,170.00. Following the completion of the sale, the executive vice president owned 10,997 shares in the company, valued at approximately $1,543,868.83. The trade was a 21.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 155,698 shares of company stock valued at $19,986,463. 18.09% of the stock is currently owned by insiders.

AAON Stock Down 7.7%

AAON stock opened at $132.62 on Friday. The stock's fifty day simple moving average is $110.72 and its two-hundred day simple moving average is $96.42. The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46. AAON, Inc. has a 1-year low of $62.00 and a 1-year high of $150.46. The stock has a market cap of $10.86 billion, a P/E ratio of 92.74, a P/E/G ratio of 3.71 and a beta of 1.39.

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

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a $0.10 dividend. The ex-dividend date is Friday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. AAON's payout ratio is presently 27.97%.

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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