Pacer Advisors Inc. Sells 9,823 Shares of AAON, Inc. (NASDAQ:AAON)

Key Points

• Pacer Advisors Inc. reduced its holdings in AAON, Inc. by 83.8% in the first quarter, selling 9,823 shares and leaving it with only 1,895 shares valued at $148,000.
• Several institutional investors, including Quarry LP and Rakuten Securities Inc., actively increased their stakes in AAON, highlighting a mixed response from different investors.
• CEO Gary D. Fields and Director Gordon Douglas Wichman both executed significant stock sales, representing notable decreases in their ownership stakes, with insiders selling a total of 70,823 shares worth $7.12 million in the past ninety days.

Pacer Advisors Inc. lessened its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 83.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,895 shares of the construction company's stock after selling 9,823 shares during the period. Pacer Advisors Inc.'s holdings in AAON were worth $148,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP raised its stake in shares of AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after purchasing an additional 103 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of 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 purchasing an additional 276 shares during the period. Versant Capital Management Inc grew its position in shares of AAON by 652.3% in the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock valued at $26,000 after purchasing an additional 287 shares in the last quarter. Park Square Financial Group LLC purchased a new position in AAON during the 4th quarter valued at about $57,000. Finally, UMB Bank n.a. increased its position in shares of AAON by 81.2% during 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. Institutional investors own 70.81% of the company's stock.

Insider Activity at AAON

In related 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 transaction of $2,225,632.96. Following the transaction, the director owned 8,754 shares in the company, valued at $914,617.92. The trade was a 70.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $824,501.62. Following the completion of the sale, the chief executive officer owned 26,491 shares in the company, valued at approximately $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 sold 70,823 shares of company stock valued at $7,122,451 in the last quarter. Corporate insiders own 18.55% of the company's stock.

AAON Trading Up 0.5%

Shares of AAON stock traded up $0.40 on Monday, hitting $82.05. 856,725 shares of the company's stock traded hands, compared to its average volume of 949,982. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 43.18 and a beta of 0.94. The company's fifty day simple moving average is $80.54 and its 200 day simple moving average is $90.24. AAON, Inc. has a one year low of $68.98 and a one year high of $144.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 2.77.

AAON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were given a $0.10 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.40 annualized dividend and a yield of 0.5%. AAON's payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

AAON has been the subject of several analyst reports. Sidoti raised 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 cut AAON from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AAON currently has an average rating of "Moderate Buy" and an average price target of $111.50.

AAON 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.