Jacobs Levy Equity Management Inc. Purchases Shares of 77,290 AAON, Inc. $AAON

Key Points

• Jacobs Levy Equity Management Inc. invested approximately $6.04 million in AAON, acquiring 77,290 shares during the first quarter, representing about 0.09% ownership of the company.
• Wall Street analysts have mixed views on AAON, with price targets ranging from $95.00 to $105.00, and a consensus rating of "Buy" with a target price of $102.00.
• AAON recently declared a quarterly dividend of $0.10 per share, scheduled to be paid on September 26th, reflecting a dividend yield of 0.5% for stockholders of record.

Jacobs Levy Equity Management Inc. purchased a new position in AAON, Inc. (NASDAQ:AAON - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 77,290 shares of the construction company's stock, valued at approximately $6,039,000. Jacobs Levy Equity Management Inc. owned about 0.09% of AAON as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. PFG Advisors increased its position in AAON by 114.8% in the first quarter. PFG Advisors now owns 20,836 shares of the construction company's stock worth $1,628,000 after purchasing an additional 11,136 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in AAON in the fourth quarter worth $210,000. Parallel Advisors LLC increased its position in AAON by 26.3% in the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock worth $56,000 after purchasing an additional 149 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in AAON in the first quarter worth $789,000. Finally, Sequoia Financial Advisors LLC increased its position in AAON by 49.2% in the first quarter. Sequoia Financial Advisors LLC now owns 3,197 shares of the construction company's stock worth $250,000 after purchasing an additional 1,054 shares during the last quarter. Institutional investors own 70.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AAON shares. DA Davidson reduced their price target on shares of AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Robert W. Baird reduced their price target on shares of AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Wall Street Zen cut shares of AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. Finally, Sidoti upgraded shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective on the stock in a research report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $102.00.

Insider Transactions at AAON

In related news, CFO Rebecca Thompson sold 9,350 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $81.09, for a total value of $758,191.50. Following the completion of the sale, the chief financial officer directly owned 24,396 shares of the company's stock, valued at $1,978,271.64. This represents a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Douglas Eason sold 12,003 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the sale, the insider directly owned 5,301 shares of the company's stock, valued at approximately $451,009.08. This trade represents a 69.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.70% of the stock is owned by corporate insiders.

AAON Trading Down 0.4%

Shares of NASDAQ AAON traded down $0.29 during mid-day trading on Friday, reaching $82.18. The company had a trading volume of 1,306,860 shares, compared to its average volume of 872,196. The business's 50-day moving average is $80.58 and its 200-day moving average is $83.45. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 55.90 and a beta of 1.00. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The construction company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.09). AAON had a return on equity of 15.45% and a net margin of 9.70%.The company had revenue of $311.57 million during the quarter, compared to the consensus estimate of $326.15 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company's revenue for the quarter was down .6% on a year-over-year basis. Equities analysts expect that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. AAON's dividend payout ratio is 27.21%.

About AAON

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.