Oppenheimer Asset Management Inc. Has $2.11 Million Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Oppenheimer Asset Management Inc. grew its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 60.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 27,038 shares of the construction company's stock after acquiring an additional 10,137 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in AAON were worth $2,112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of AAON in the first quarter valued at approximately $245,000. Blue Trust Inc. raised its holdings in shares of AAON by 372.4% during the first quarter. Blue Trust Inc. now owns 1,795 shares of the construction company's stock valued at $140,000 after acquiring an additional 1,415 shares during the period. Institute for Wealth Management LLC. acquired a new stake in shares of AAON during the first quarter valued at approximately $463,000. State of Alaska Department of Revenue lifted its position in shares of AAON by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 7,905 shares of the construction company's stock valued at $617,000 after acquiring an additional 210 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its stake in AAON by 613.3% in the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock worth $25,000 after purchasing an additional 276 shares during the period. Institutional investors own 70.81% of the company's stock.

Analysts Set New Price Targets

AAON has been the topic of several recent analyst reports. Wall Street Zen raised shares of AAON from a "sell" rating to a "hold" rating in a research note on Friday. Sidoti raised AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target on the stock in a research report on Monday, June 16th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AAON currently has an average rating of "Buy" and a consensus target price of $111.50.

AAON Stock Up 0.2%

Shares of AAON stock traded up $0.16 on Monday, hitting $73.75. 596,680 shares of the company traded hands, compared to its average volume of 654,034. AAON, Inc. has a 12-month low of $68.98 and a 12-month high of $144.07. The company has a quick ratio of 1.80, a current ratio of 2.77 and a debt-to-equity ratio of 0.29. The company has a market cap of $6.00 billion, a PE ratio of 38.82 and a beta of 1.03. The company has a 50-day moving average price of $89.82 and a 200 day moving average price of $97.89.

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

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Friday, June 6th. AAON's dividend payout ratio is presently 21.05%.

AAON declared that its board has initiated a share repurchase plan on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at AAON

In related news, CEO Gary D. Fields sold 37,189 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total value of $3,651,959.80. Following the completion of the sale, the chief executive officer directly owned 63,714 shares in the company, valued at approximately $6,256,714.80. The trade was a 36.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gordon Douglas Wichman sold 21,302 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was 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 owned 8,754 shares of the company's stock, valued at $914,617.92. The trade was a 70.87% 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 over the last three months. Company 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.