New York State Teachers Retirement System Grows Holdings in AAON, Inc. (NASDAQ:AAON)

New York State Teachers Retirement System raised its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 32.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,236 shares of the construction company's stock after purchasing an additional 6,653 shares during the quarter. New York State Teachers Retirement System's holdings in AAON were worth $2,128,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AAON. Norges Bank acquired a new position in AAON in the 4th quarter worth about $76,581,000. First Trust Advisors LP raised its holdings in AAON by 85.6% in the 4th quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company's stock valued at $125,813,000 after buying an additional 493,219 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in AAON during the 4th quarter worth approximately $42,449,000. Allspring Global Investments Holdings LLC grew its holdings in AAON by 107.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 654,794 shares of the construction company's stock worth $51,833,000 after acquiring an additional 339,558 shares during the last quarter. Finally, Invesco Ltd. increased its position in AAON by 15.6% in the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock valued at $239,184,000 after acquiring an additional 274,119 shares during the period. Institutional investors and hedge funds own 70.81% of the company's stock.

Insider Activity

In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the completion of the sale, the director directly owned 8,754 shares in the company, valued at approximately $914,617.92. This trade represents a 70.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $98.66, for a total transaction of $824,501.62. Following the completion of the sale, the chief executive officer owned 26,491 shares of the company's stock, valued at $2,613,602.06. This represents a 23.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,823 shares of company stock worth $7,122,451 in the last three months. 18.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Sidoti upgraded shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target for the company in a report on Monday, June 16th. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AAON currently has a consensus rating of "Buy" and a consensus price target of $111.50.

AAON Price Performance

AAON stock traded up $3.20 during mid-day trading on Thursday, hitting $79.99. 2,461,252 shares of the stock were exchanged, compared to its average volume of 671,357. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.77 and a quick ratio of 1.80. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 42.10 and a beta of 0.95. The business has a fifty day moving average price of $87.92 and a 200 day moving average price of $95.50. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.13. The company had revenue of $322.05 million during the quarter, compared to analyst estimates of $289.16 million. AAON had a net margin of 12.60% and a return on equity of 20.23%. The firm's revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS. On average, sell-side analysts anticipate that AAON, Inc. will post 2.26 EPS for the current year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.50%. AAON's dividend payout ratio (DPR) is currently 21.05%.

AAON Company 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.