AAON, Inc. $AAON Stock Holdings Lessened by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. decreased its stake in AAON, Inc. by 21.1%, selling 131,682 shares and retaining 491,305 shares valued at approximately $38.39 million.
• AAON recently reported earnings of $0.22 per share, falling short of analyst expectations of $0.31, while its quarterly revenue was $311.57 million, below the anticipated $326.15 million.
• The company announced a quarterly dividend of $0.10 per share payable on September 26th, reflecting a yield of 0.5% and a dividend payout ratio of 27.21%.

Raymond James Financial Inc. lowered its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 21.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 491,305 shares of the construction company's stock after selling 131,682 shares during the period. Raymond James Financial Inc. owned 0.60% of AAON worth $38,386,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Quarry LP raised its holdings in shares of AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after buying an additional 103 shares during the last quarter. Parallel Advisors LLC increased its position in AAON by 26.3% in the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock valued at $56,000 after acquiring an additional 149 shares during the period. Cresset Asset Management LLC raised its stake in AAON by 1.3% during the 1st quarter. Cresset Asset Management LLC now owns 12,151 shares of the construction company's stock valued at $949,000 after acquiring an additional 157 shares during the last quarter. CWM LLC raised its stake in AAON by 25.7% during the 1st quarter. CWM LLC now owns 938 shares of the construction company's stock valued at $73,000 after acquiring an additional 192 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in AAON by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the construction company's stock worth $1,477,000 after acquiring an additional 200 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Trading Up 0.2%

Shares of AAON stock traded up $0.21 during trading hours on Thursday, hitting $84.96. The company's stock had a trading volume of 147,211 shares, compared to its average volume of 1,013,897. The business has a fifty day moving average of $78.55 and a 200 day moving average of $85.88. AAON, Inc. has a 1-year low of $62.00 and a 1-year high of $144.07. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $6.93 billion, a PE ratio of 57.74 and a beta of 0.94.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The construction company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.09). The business had revenue of $311.57 million for the quarter, compared to analysts' expectations of $326.15 million. AAON had a return on equity of 15.45% and a net margin of 9.70%.The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company posted $0.62 earnings per share. As a group, equities analysts forecast that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. AAON's dividend payout ratio is currently 27.21%.

Insider Buying and Selling at AAON

In other news, insider Christopher Douglas Eason sold 12,003 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the sale, the insider owned 5,301 shares of the company's stock, valued at approximately $451,009.08. This trade represents a 69.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 18.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AAON. Robert W. Baird dropped their target price on AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Sidoti raised shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective on the stock in a research note on Monday, June 16th. DA Davidson reduced their target price on AAON from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Finally, Wall Street Zen cut AAON from a "hold" rating to a "strong sell" rating in a report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat.com, AAON has a consensus rating of "Buy" and an average price target of $102.00.

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.