NBC Securities Inc. raised its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 183,600.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,511 shares of the construction company's stock after purchasing an additional 5,508 shares during the quarter. NBC Securities Inc.'s holdings in AAON were worth $430,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock valued at $351,615,000 after buying an additional 150,207 shares during the period. Blue Trust Inc. boosted its position in AAON by 28.4% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock worth $41,000 after purchasing an additional 84 shares during the period. Mather Group LLC. boosted its position in AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company's stock worth $27,000 after purchasing an additional 193 shares during the period. Retirement Systems of Alabama boosted its position in AAON by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 82,028 shares of the construction company's stock worth $9,653,000 after purchasing an additional 346 shares during the period. Finally, Choreo LLC lifted its holdings in shares of AAON by 10.7% in the fourth quarter. Choreo LLC now owns 2,813 shares of the construction company's stock worth $337,000 after buying an additional 271 shares in the last quarter. Institutional investors own 70.81% of the company's stock.
Insider Buying and Selling at AAON
In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of the business's stock in a transaction dated 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 completion of the transaction, the director now owns 8,754 shares of the company's stock, valued at approximately $914,617.92. The trade was a 70.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary D. Fields sold 8,357 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $98.66, for a total value of $824,501.62. Following the completion of the transaction, the chief executive officer now directly owns 26,491 shares of the company's stock, valued at approximately $2,613,602.06. This trade represents a 23.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,823 shares of company stock valued at $7,122,451. 18.70% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
AAON has been the topic of a number of recent analyst reports. Robert W. Baird lowered their target price on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research note on Friday, February 28th. DA Davidson decreased their price target on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, Wall Street Zen downgraded shares of AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $115.50.
Read Our Latest Analysis on AAON
AAON Trading Up 1.9%
NASDAQ:AAON traded up $1.83 during trading hours on Friday, hitting $96.68. The company had a trading volume of 658,877 shares, compared to its average volume of 657,006. The company has a market capitalization of $7.87 billion, a PE ratio of 42.59 and a beta of 1.03. The stock has a 50-day moving average price of $91.37 and a 200 day moving average price of $104.98. AAON, Inc. has a 52 week low of $68.98 and a 52 week high of $144.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79.
AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.13. The business had revenue of $322.05 million for the quarter, compared to analysts' expectations of $289.16 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The firm's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. On average, equities research analysts predict that AAON, Inc. will post 2.26 EPS for the current fiscal year.
AAON announced that its Board of Directors has approved a share buyback plan 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 plans are typically an indication that the company's management believes its shares are undervalued.
AAON Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, June 6th. AAON's dividend payout ratio is currently 21.05%.
AAON Profile
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Free Report)
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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