Peregrine Capital Management LLC Sells 11,891 Shares of AAON, Inc. $AAON

Key Points

• Peregrine Capital Management trimmed its AAON stake by 8.4%, selling 11,891 shares and now holds 129,079 shares (about 0.16% of the company) valued at roughly $9.84 million.
• Large institutional moves include Wellington boosting its position to 4.74 million shares and others adding sizable stakes, leaving institutions with about 70.81% ownership; analysts’ consensus is a “Moderate Buy” with an average price target of $107.75.
• AAON’s latest quarter showed revenue of $424.2M (up 42.5% YoY and above estimates) but missed on EPS ($0.39 vs. $0.45); the company pays a $0.10 quarterly dividend (~0.4% yield) and insiders have recently sold shares.

Peregrine Capital Management LLC lessened its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,079 shares of the construction company's stock after selling 11,891 shares during the quarter. Peregrine Capital Management LLC owned 0.16% of AAON worth $9,842,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AAON. Wellington Management Group LLP lifted its position in AAON by 512.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company's stock worth $442,896,000 after buying an additional 3,966,088 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in shares of AAON by 96.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,320,319 shares of the construction company's stock valued at $216,811,000 after acquiring an additional 1,138,658 shares in the last quarter. First Trust Advisors LP increased its position in shares of AAON by 136.4% in the third quarter. First Trust Advisors LP now owns 1,933,595 shares of the construction company's stock valued at $180,675,000 after acquiring an additional 1,115,566 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in shares of AAON in the third quarter valued at about $68,036,000. Finally, Bamco Inc. NY bought a new stake in AAON during the third quarter worth about $67,922,000. Institutional investors own 70.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. DA Davidson restated a "buy" rating and issued a $120.00 price target on shares of AAON in a research note on Tuesday, February 3rd. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. William Blair restated an "outperform" rating on shares of AAON in a report on Monday, March 2nd. Oppenheimer reissued an "outperform" rating and issued a $118.00 price objective (up from $115.00) on shares of AAON in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of AAON in a research note on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, AAON currently has a consensus rating of "Moderate Buy" and an average price target of $107.75.

AAON Stock Performance

Shares of NASDAQ AAON traded up $2.21 during midday trading on Thursday, hitting $99.07. 30,246 shares of the company's stock were exchanged, compared to its average volume of 899,355. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt-to-equity ratio of 0.45. AAON, Inc. has a 12 month low of $62.00 and a 12 month high of $116.04. The company's 50 day moving average price is $90.93 and its 200 day moving average price is $91.17. The firm has a market capitalization of $8.08 billion, a PE ratio of 76.20, a price-to-earnings-growth ratio of 2.99 and a beta of 1.20.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The construction company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). AAON had a net margin of 7.46% and a return on equity of 13.13%. The business had revenue of $424.22 million during the quarter, compared to the consensus estimate of $374.10 million. During the same quarter last year, the company posted $0.30 EPS. The firm's revenue was up 42.5% on a year-over-year basis. As a group, analysts predict that AAON, Inc. will post 2 earnings per share for the current fiscal year.

AAON Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Wednesday, March 18th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. AAON's dividend payout ratio is presently 30.77%.

Insider Transactions at AAON

In other AAON news, CAO Rebecca Thompson sold 2,287 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $100.11, for a total value of $228,951.57. Following the transaction, the chief accounting officer directly owned 27,681 shares of the company's stock, valued at $2,771,144.91. This represents a 7.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Casey Kidwell sold 5,225 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $90.00, for a total transaction of $470,250.00. Following the sale, the insider owned 12,662 shares of the company's stock, valued at $1,139,580. This trade represents a 29.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 18.09% of the company's stock.

About AAON

AAON, Inc NASDAQ: AAON is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company's product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON's core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.

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