LPL Financial LLC Sells 8,153 Shares of AAON, Inc. $AAON

Key Points

• LPL Financial LLC has reduced its stake in AAON, Inc. by 19.4%, now holding 33,896 shares worth approximately $2.65 million after selling 8,153 shares.
• AAON reported quarterly earnings of $0.22 per share, missing analysts' expectations, with revenue of $311.57 million, down 0.6% year-over-year.
• The company declared a quarterly dividend of $0.10 per share, representing a 0.5% dividend yield, to be paid on September 26th to stockholders of record.

LPL Financial LLC lowered its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 19.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,896 shares of the construction company's stock after selling 8,153 shares during the period. LPL Financial LLC's holdings in AAON were worth $2,648,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of AAON. Barclays PLC increased its position in shares of AAON by 34.9% in the fourth quarter. Barclays PLC now owns 113,985 shares of the construction company's stock worth $13,414,000 after purchasing an additional 29,513 shares during the period. Bridgewater Associates LP bought a new position in shares of AAON in the fourth quarter worth $385,000. PEAK6 LLC bought a new position in shares of AAON in the fourth quarter worth $1,686,000. CANADA LIFE ASSURANCE Co increased its position in shares of AAON by 0.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 47,201 shares of the construction company's stock worth $5,550,000 after purchasing an additional 366 shares during the period. Finally, Forum Financial Management LP bought a new position in shares of AAON in the fourth quarter worth $202,000. Institutional investors own 70.81% of the company's stock.

AAON Stock Performance

NASDAQ:AAON opened at $79.55 on Monday. The stock's 50-day simple moving average is $77.55 and its 200 day simple moving average is $87.22. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $144.07. The firm has a market capitalization of $6.49 billion, a PE ratio of 54.12 and a beta of 0.94. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38.

AAON (NASDAQ:AAON - Get Free Report) last announced 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 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 analyst estimates of $326.15 million. During the same period in the previous year, the business posted $0.62 earnings per share. The business's revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts anticipate that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

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 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 presently 27.21%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AAON shares. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target on the stock in a research report on Monday, June 16th. DA Davidson reduced their price objective on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Wall Street Zen lowered AAON from a "hold" rating to a "strong sell" rating in a research note on Sunday. Finally, Robert W. Baird reduced their price objective on AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $102.00.

Insider Activity at AAON

In related news, Director Gordon Douglas Wichman sold 21,302 shares of AAON stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total value of $2,225,632.96. Following the transaction, the director directly owned 8,754 shares of the company's stock, valued at $914,617.92. The trade was a 70.87% 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. Insiders own 18.55% of the company's stock.

AAON 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.

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