Northern Trust Corp Buys 19,316 Shares of AAON, Inc. $AAON

Key Points

• Northern Trust Corp increased its stake in AAON, Inc. by 3.1% in the first quarter, owning 644,722 shares valued at approximately $50.37 million.
• The company announced a quarterly dividend of $0.10 per share, with an annualized dividend yield of 0.5%, set to be paid on September 26th.
• AAON's latest earnings report showed a quarterly earnings per share of $0.22, missing consensus estimates, and revenue decreased by 0.6% compared to the prior year.

Northern Trust Corp boosted its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 644,722 shares of the construction company's stock after buying an additional 19,316 shares during the quarter. Northern Trust Corp owned 0.79% of AAON worth $50,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Penn Mutual Asset Management bought a new stake in shares of AAON in the 1st quarter worth about $391,000. Cresset Asset Management LLC raised its position in AAON by 1.3% in the 1st quarter. Cresset Asset Management LLC now owns 12,151 shares of the construction company's stock worth $949,000 after purchasing an additional 157 shares during the period. Aberdeen Group plc bought a new stake in AAON in the first quarter worth about $2,272,000. Dimensional Fund Advisors LP boosted its position in shares of AAON by 5.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,402,803 shares of the construction company's stock valued at $109,598,000 after buying an additional 66,536 shares during the period. Finally, Kovitz Investment Group Partners LLC purchased a new position in shares of AAON during the first quarter valued at approximately $721,000. Institutional investors own 70.81% of the company's stock.

AAON Stock Down 2.5%

Shares of AAON traded down $2.17 during midday trading on Monday, reaching $82.95. 861,153 shares of the stock were exchanged, compared to its average volume of 1,485,071. The company has a market capitalization of $6.76 billion, a P/E ratio of 56.43 and a beta of 1.00. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $144.07. The company's 50 day moving average is $79.04 and its two-hundred day moving average is $85.12.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The construction company reported $0.22 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $326.15 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The business's revenue was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 5th. AAON's dividend payout ratio is presently 27.21%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AAON. Robert W. Baird reduced their price target on AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. DA Davidson reduced their target price on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price for the company in a research report on Monday, June 16th. Finally, Wall Street Zen cut shares of AAON from a "hold" rating to a "strong sell" rating in a report on Sunday, August 17th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat, AAON presently has a consensus rating of "Buy" and an average target price of $102.00.

Insider Activity

In related news, insider Christopher Douglas Eason sold 12,003 shares of AAON stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the transaction, the insider directly owned 5,301 shares of the company's stock, valued at $451,009.08. This trade represents a 69.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 18.55% of the company's stock.

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.