Royce & Associates LP Grows Holdings in AAON, Inc. $AAON

Key Points

• Royce & Associates LP increased its AAON stake by 9.6% in the fourth quarter, adding 40,892 shares to bring its total to 467,496 shares worth about $35.6 million.
• AAON has seen continued institutional and analyst support, with 70.81% of shares held by hedge funds and other institutions, and Wall Street analysts maintaining an average Buy rating with a $107.75 price target.
• The company reported better-than-expected quarterly results, posting EPS of $0.48 versus $0.31 expected and revenue of $496.94 million, while also announcing a quarterly dividend of $0.10 per share.

Royce & Associates LP raised its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 467,496 shares of the construction company's stock after purchasing an additional 40,892 shares during the period. Royce & Associates LP owned about 0.57% of AAON worth $35,647,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAON. Millennium Management LLC lifted its holdings in AAON by 429.3% in the 1st quarter. Millennium Management LLC now owns 81,145 shares of the construction company's stock valued at $6,340,000 after purchasing an additional 65,813 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in AAON by 1.8% in the 1st quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company's stock valued at $1,271,000 after purchasing an additional 294 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in AAON by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company's stock valued at $33,669,000 after purchasing an additional 73,644 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in AAON by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company's stock valued at $18,204,000 after purchasing an additional 12,489 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in AAON by 96.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after purchasing an additional 164 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AAON. William Blair restated an "outperform" rating on shares of AAON in a report on Monday, March 2nd. Zacks Research upgraded shares of AAON from a "hold" rating to a "strong-buy" rating in a report on Monday, May 11th. DA Davidson restated a "buy" rating and issued a $120.00 target price on shares of AAON in a report on Tuesday, February 3rd. Wall Street Zen upgraded shares of AAON from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Finally, Oppenheimer reiterated an "outperform" rating on shares of AAON in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, AAON presently has an average rating of "Buy" and an average price target of $107.75.

Insider Activity at AAON

In other news, CAO Rebecca Thompson sold 21,914 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $100.21, for a total transaction of $2,196,001.94. Following the transaction, the chief accounting officer directly owned 27,681 shares in the company, valued at $2,773,913.01. This represents a 44.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary D. Fields sold 31,271 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $134.07, for a total transaction of $4,192,502.97. Following the sale, the director directly owned 34,252 shares of the company's stock, valued at approximately $4,592,165.64. This trade represents a 47.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 108,295 shares of company stock valued at $13,323,408. Insiders own 18.09% of the company's stock.

AAON Stock Performance

Shares of AAON stock opened at $134.60 on Tuesday. The firm has a market cap of $11.03 billion, a P/E ratio of 94.13, a PEG ratio of 3.77 and a beta of 1.24. AAON, Inc. has a 1-year low of $62.00 and a 1-year high of $149.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.75. The firm's 50-day simple moving average is $100.03 and its 200-day simple moving average is $93.79.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.17. The business had revenue of $496.94 million for the quarter, compared to analyst estimates of $381.08 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. The company's revenue was up 54.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. As a group, equities analysts forecast that AAON, Inc. will post 2.23 EPS for the current year.

AAON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, June 5th. AAON's dividend payout ratio is presently 27.97%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.