JPMorgan Chase & Co. Sells 39,024 Shares of AAON, Inc. (NASDAQ:AAON)

Key Points

• JPMorgan Chase & Co. reduced its stake in AAON, Inc. by 1.3%, owning 2,945,154 shares valued at approximately $230.11 million at the end of the most recent quarter.
• Insider transactions noted that Director Gordon Douglas Wichman sold 21,302 shares for over $2.22 million, marking a 70.87% decrease in his position.
• AAON, Inc. reported a quarterly earnings miss with $0.22 earnings per share, falling short of the estimated $0.31, while also noting a revenue decrease of 0.6% year over year.

JPMorgan Chase & Co. trimmed its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,945,154 shares of the construction company's stock after selling 39,024 shares during the period. JPMorgan Chase & Co. owned 3.62% of AAON worth $230,105,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cynosure Group LLC boosted its holdings in shares of AAON by 334.7% in the first quarter. Cynosure Group LLC now owns 22,707 shares of the construction company's stock worth $1,774,000 after acquiring an additional 17,483 shares during the period. AlphaCore Capital LLC boosted its holdings in shares of AAON by 83.1% in the first quarter. AlphaCore Capital LLC now owns 4,461 shares of the construction company's stock worth $349,000 after acquiring an additional 2,024 shares during the period. Jackson Square Partners LLC bought a new position in shares of AAON in the first quarter worth $20,962,000. CenterBook Partners LP bought a new position in shares of AAON in the first quarter worth $6,454,000. Finally, Headlands Technologies LLC bought a new position in shares of AAON in the first quarter worth $250,000. 70.81% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Gordon Douglas Wichman sold 21,302 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the transaction, the director directly owned 8,754 shares of the company's stock, valued at approximately $914,617.92. This trade represents a 70.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 18.70% of the company's stock.

Analysts Set New Price Targets

AAON has been the topic of a number of recent analyst reports. Sidoti upgraded 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. Wall Street Zen upgraded AAON from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. DA Davidson lowered their price objective on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Robert W. Baird lowered their price objective on AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AAON currently has a consensus rating of "Buy" and a consensus price target of $102.00.

AAON Price Performance

NASDAQ AAON traded down $3.56 during trading hours on Friday, reaching $79.55. 1,315,222 shares of the stock traded hands, compared to its average volume of 1,701,280. The stock has a 50 day simple moving average of $77.55 and a two-hundred day simple moving average of $87.58. AAON, Inc. has a 1 year low of $62.00 and a 1 year high of $144.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.10 and a quick ratio of 1.80. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 54.12 and a beta of 0.94.

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

AAON Announces Dividend

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

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.