Premier Fund Managers Ltd Purchases New Shares in AAON, Inc. (NASDAQ:AAON)

Key Points

• Premier Fund Managers Ltd recently acquired a new stake in AAON, Inc., purchasing 4,082 shares valued at approximately $319,000.
• AAON was recently rated with a mix of recommendations, including one sell rating and four buy ratings, averaging to a "Moderate Buy" with a target price of $111.50.
• The company declared a quarterly dividend of $0.10 per share, bringing the annualized yield to 0.49%, supported by a payout ratio of 21.05%.

Premier Fund Managers Ltd acquired a new stake in AAON, Inc. (NASDAQ:AAON - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,082 shares of the construction company's stock, valued at approximately $319,000.

Other large investors have also bought and sold shares of the company. American Century Companies Inc. lifted its holdings in AAON by 19.3% in the fourth quarter. American Century Companies Inc. now owns 68,760 shares of the construction company's stock valued at $8,092,000 after buying an additional 11,140 shares during the period. LPL Financial LLC raised its position in shares of AAON by 11.2% in the 4th quarter. LPL Financial LLC now owns 42,049 shares of the construction company's stock worth $4,948,000 after acquiring an additional 4,245 shares in the last quarter. Norges Bank acquired a new position in shares of AAON in the 4th quarter valued at about $76,581,000. Pictet Asset Management Holding SA boosted its position in shares of AAON by 10.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 10,037 shares of the construction company's stock valued at $1,181,000 after purchasing an additional 936 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its position in shares of AAON by 30.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 2,576 shares of the construction company's stock valued at $303,000 after purchasing an additional 602 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on AAON. Wall Street Zen downgraded AAON from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Sidoti raised shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective for the company in a research report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.50.

AAON Stock Down 2.2%

Shares of AAON traded down $1.85 during trading hours on Friday, hitting $81.65. The stock had a trading volume of 1,588,054 shares, compared to its average volume of 1,262,727. AAON, Inc. has a 1-year low of $68.98 and a 1-year high of $144.07. The firm has a market capitalization of $6.64 billion, a P/E ratio of 42.97 and a beta of 0.95. The firm has a 50 day simple moving average of $80.54 and a 200-day simple moving average of $90.80. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.77 and a quick ratio of 1.80.

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

AAON Announces Dividend

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

Insider Buying and Selling at AAON

In other news, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $98.66, for a total transaction of $824,501.62. Following the completion of the transaction, the chief executive officer directly owned 26,491 shares in the company, valued at $2,613,602.06. This trade represents a 23.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the director directly owned 8,754 shares of the company's stock, valued at approximately $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. In the last three months, insiders sold 70,823 shares of company stock valued at $7,122,451. 18.70% of the stock is currently owned by insiders.

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.