Legal & General Group Plc Sells 17,419 Shares of AAON, Inc. $AAON

Key Points

• Legal & General Group Plc cut its AAON stake by 14.3% in the fourth quarter, selling 17,419 shares and leaving it with 104,587 shares valued at about $7.98 million.
• AAON insiders have also been selling shares, including CEO Matthew Joseph Tobolski, and insiders collectively sold 155,698 shares worth nearly $20 million over the last three months.
• AAON reported strong quarterly results, with EPS of $0.48 beating estimates and revenue rising 54.3% year over year; analysts currently rate the stock a consensus Buy with a $107.75 target price.

Legal & General Group Plc decreased its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,587 shares of the construction company's stock after selling 17,419 shares during the period. Legal & General Group Plc owned about 0.13% of AAON worth $7,975,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AAON. Millennium Management LLC increased its holdings in shares of AAON by 429.3% in the 1st quarter. Millennium Management LLC now owns 81,145 shares of the construction company's stock worth $6,340,000 after purchasing an additional 65,813 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of AAON by 1.8% in the 1st quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company's stock worth $1,271,000 after purchasing an additional 294 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of AAON by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company's stock worth $33,669,000 after purchasing an additional 73,644 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of AAON by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company's stock worth $18,204,000 after purchasing an additional 12,489 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of AAON by 96.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock worth $25,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Insiders Place Their Bets

In other news, insider Casey Kidwell sold 5,225 shares of the business's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $90.00, for a total value of $470,250.00. Following the transaction, the insider directly owned 12,662 shares in the company, valued at $1,139,580. The trade was a 29.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Joseph Tobolski sold 8,000 shares of the business's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total value of $1,082,960.00. Following the completion of the transaction, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 155,698 shares of company stock valued at $19,986,463 over the last three months. Insiders own 18.09% of the company's stock.

Analyst Upgrades and Downgrades

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

AAON Price Performance

Shares of AAON stock opened at $132.62 on Friday. The stock's 50-day simple moving average is $110.72 and its 200-day simple moving average is $96.42. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $150.46. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 92.74, a PEG ratio of 4.02 and a beta of 1.39. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46.

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

AAON Dividend Announcement

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

AAON Company 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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