Millennium Management LLC Trims Stake in AAON, Inc. (NASDAQ:AAON)

Millennium Management LLC trimmed its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 93.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 15,332 shares of the construction company's stock after selling 206,265 shares during the period. Millennium Management LLC's holdings in AAON were worth $1,804,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in AAON by 6.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company's stock worth $455,000 after acquiring an additional 244 shares during the last quarter. JPMorgan Chase & Co. increased its stake in AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock worth $351,615,000 after acquiring an additional 150,207 shares during the last quarter. American Century Companies Inc. increased its stake in AAON by 19.3% during the fourth quarter. American Century Companies Inc. now owns 68,760 shares of the construction company's stock worth $8,092,000 after acquiring an additional 11,140 shares during the last quarter. Savant Capital LLC acquired a new stake in AAON during the fourth quarter worth $884,000. Finally, Empowered Funds LLC acquired a new stake in AAON during the fourth quarter worth $42,000. Institutional investors and hedge funds own 70.81% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on AAON. DA Davidson cut their target price on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Wall Street Zen cut AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. CJS Securities raised AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research note on Friday, February 28th. Finally, Robert W. Baird dropped their price objective on AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $115.50.

AAON Stock Up 1.9%

AAON traded up $1.83 on Friday, hitting $96.68. 658,877 shares of the company were exchanged, compared to its average volume of 657,006. AAON, Inc. has a twelve month low of $68.98 and a twelve month high of $144.07. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 42.59 and a beta of 1.03. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $91.37 and a two-hundred day moving average price of $104.98.

AAON (NASDAQ:AAON - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.24 by $0.13. AAON had a return on equity of 24.98% and a net margin of 15.78%. The firm had revenue of $322.05 million during the quarter, compared to analysts' expectations of $289.16 million. During the same period in the previous year, the firm posted $0.46 EPS. AAON's revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities analysts predict that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.40 annualized dividend and a yield of 0.41%. AAON's payout ratio is 21.05%.

AAON announced that its Board of Directors has initiated a share buyback program on Tuesday, March 4th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the construction company to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other AAON news, CEO Gary D. Fields sold 37,189 shares of AAON stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the completion of the sale, the chief executive officer now directly owns 63,714 shares of the company's stock, valued at $6,256,714.80. The trade was a 36.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gordon Douglas Wichman sold 3,975 shares of AAON stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $105.75, for a total value of $420,356.25. Following the sale, the director now directly owns 8,754 shares of the company's stock, valued at $925,735.50. This trade represents a 31.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,823 shares of company stock valued at $7,122,451 in the last three months. 18.70% of the stock is owned by corporate insiders.

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.