Oak Ridge Investments LLC Sells 9,978 Shares of AAON, Inc. $AAON

Key Points

• Oak Ridge Investments LLC reduced its stake in AAON, Inc. by 32.2%, selling 9,978 shares to own 21,043 shares valued at approximately $1.55 million.
• Analysts have provided mixed ratings for AAON, with a consensus price target of $102.60 and ratings ranging from "strong buy" to "strong sell."
• AAON declared a quarterly dividend of $0.10 per share, representing a 0.4% yield, and has a dividend payout ratio of 27.21%.

Oak Ridge Investments LLC trimmed its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 32.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,043 shares of the construction company's stock after selling 9,978 shares during the quarter. Oak Ridge Investments LLC's holdings in AAON were worth $1,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in AAON. Rakuten Securities Inc. lifted its stake in AAON by 613.3% in the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after buying an additional 276 shares during the period. UMB Bank n.a. lifted its stake in AAON by 81.2% in the first quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock valued at $46,000 after buying an additional 264 shares during the period. CWM LLC lifted its stake in AAON by 25.7% in the first quarter. CWM LLC now owns 938 shares of the construction company's stock valued at $73,000 after buying an additional 192 shares during the period. Trust Co. of Toledo NA OH acquired a new position in AAON in the second quarter valued at approximately $91,000. Finally, SBI Securities Co. Ltd. lifted its stake in AAON by 987.0% in the first quarter. SBI Securities Co. Ltd. now owns 1,174 shares of the construction company's stock valued at $92,000 after buying an additional 1,066 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on AAON. DA Davidson dropped their price target on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Weiss Ratings reissued a "hold (c)" rating on shares of AAON in a research note on Wednesday. Oppenheimer restated an "outperform" rating and set a $105.00 price objective on shares of AAON in a report on Tuesday, September 30th. Wall Street Zen downgraded AAON from a "hold" rating to a "strong sell" rating in a report on Sunday, August 17th. Finally, Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective for the company in a report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $102.60.

AAON Trading Down 1.7%

Shares of AAON stock opened at $99.50 on Friday. The stock has a fifty day simple moving average of $86.75 and a 200 day simple moving average of $85.30. AAON, Inc. has a 12-month low of $62.00 and a 12-month high of $144.07. The company has a market capitalization of $8.11 billion, a P/E ratio of 67.69 and a beta of 1.05. 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 (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The construction company reported $0.37 earnings per share (EPS) for the quarter. AAON had a return on equity of 15.45% and a net margin of 9.70%.The business had revenue of $322.05 million during the quarter. On average, sell-side analysts anticipate that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, September 5th. This represents a $0.40 annualized dividend and a yield of 0.4%. AAON's dividend payout ratio is 27.21%.

Insider Buying and Selling at AAON

In related news, CFO Rebecca Thompson sold 9,350 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $81.09, for a total transaction of $758,191.50. Following the completion of the sale, the chief financial officer owned 24,396 shares in the company, valued at approximately $1,978,271.64. This represents a 27.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher Douglas Eason sold 12,003 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $85.08, for a total value of $1,021,215.24. Following the sale, the insider owned 5,301 shares of the company's stock, valued at $451,009.08. This trade represents a 69.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.70% 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.

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