Kovitz Investment Group Partners LLC Makes New Investment in AAON, Inc. $AAON

Key Points

• Kovitz Investment Group Partners LLC has acquired a new position in AAON, Inc. by purchasing 9,234 shares valued at approximately $721,000 during the first quarter.
• HD Davidson and Robert W. Baird recently lowered their price targets for AAON, indicating a drop from $125.00 to $105.00 and $102.00 to $98.00, respectively, while maintaining "buy" ratings.
• AAON declared a quarterly dividend of $0.10 per share, payable on September 26th, which reflects an annualized dividend yield of 0.5%.

Kovitz Investment Group Partners LLC purchased a new position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,234 shares of the construction company's stock, valued at approximately $721,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of AAON by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 6,516,204 shares of the construction company's stock worth $509,111,000 after purchasing an additional 276,722 shares during the period. Blair William & Co. IL raised its position in shares of AAON by 86.2% during the 1st quarter. Blair William & Co. IL now owns 2,177,688 shares of the construction company's stock worth $170,143,000 after purchasing an additional 1,007,906 shares during the period. Geneva Capital Management LLC raised its position in shares of AAON by 13.1% during the 1st quarter. Geneva Capital Management LLC now owns 1,897,728 shares of the construction company's stock worth $148,269,000 after purchasing an additional 219,814 shares during the period. Bank of New York Mellon Corp raised its position in shares of AAON by 39.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,101,692 shares of the construction company's stock worth $86,075,000 after purchasing an additional 312,855 shares during the period. Finally, Driehaus Capital Management LLC raised its position in shares of AAON by 5.5% during the 4th quarter. Driehaus Capital Management LLC now owns 693,407 shares of the construction company's stock worth $81,600,000 after purchasing an additional 36,362 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. DA Davidson dropped their price target on 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 dropped their price target on 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 AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday. Finally, Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a research report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $102.00.

AAON Stock Down 2.7%

AAON opened at $80.09 on Thursday. AAON, Inc. has a 12 month low of $62.00 and a 12 month 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 1.99. The stock has a market cap of $6.53 billion, a P/E ratio of 54.48 and a beta of 0.94. The stock's 50 day moving average price is $77.46 and its 200 day moving average price is $86.90.

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

AAON Dividend Announcement

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

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