SG Americas Securities LLC lessened its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 57.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,391 shares of the construction company's stock after selling 14,275 shares during the quarter. SG Americas Securities LLC's holdings in AAON were worth $812,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in AAON by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company's stock worth $734,262,000 after acquiring an additional 75,832 shares in the last quarter. Invesco Ltd. lifted its holdings in AAON by 15.6% in the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock valued at $239,184,000 after acquiring an additional 274,119 shares during the period. Geode Capital Management LLC boosted its holdings in shares of AAON by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company's stock worth $145,692,000 after buying an additional 3,644 shares during the last quarter. Blair William & Co. IL grew its position in shares of AAON by 4.2% during the 4th quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company's stock valued at $137,660,000 after acquiring an additional 47,254 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of AAON by 85.6% in the fourth quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company's stock worth $125,813,000 after buying an additional 493,219 shares during the period. 70.81% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. Sidoti raised shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a report on Monday. DA Davidson decreased their price objective on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company in a report on Friday, February 28th. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research report on Friday, February 28th. Wall Street Zen lowered AAON from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Robert W. Baird reduced their target price on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AAON currently has an average rating of "Moderate Buy" and an average target price of $111.50.
View Our Latest Research Report on AAON
Insider Activity at AAON
In related news, CEO Gary D. Fields sold 8,357 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $98.66, for a total value of $824,501.62. Following the sale, the chief executive officer now owns 26,491 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gordon Douglas Wichman sold 21,302 shares of the firm's stock in a transaction that occurred on 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 now directly owns 8,754 shares in the company, valued at approximately $914,617.92. The trade was a 70.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,823 shares of company stock worth $7,122,451. Corporate insiders own 18.70% of the company's stock.
AAON Trading Up 0.4%
AAON stock traded up $0.31 during midday trading on Friday, hitting $72.09. 773,126 shares of the stock were exchanged, compared to its average volume of 681,067. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29. The stock's 50-day simple moving average is $91.09 and its 200 day simple moving average is $101.27. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 37.94 and a beta of 1.03.
AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.13. AAON had a return on equity of 20.23% and a net margin of 12.60%. The firm had revenue of $322.05 million during the quarter, compared to the consensus estimate of $289.16 million. During the same period last year, the company earned $0.46 EPS. The company's quarterly revenue was up 22.9% on a year-over-year basis. On average, equities analysts anticipate that AAON, Inc. will post 2.26 EPS for the current year.
AAON Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, June 6th. AAON's dividend payout ratio (DPR) is currently 21.05%.
AAON announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.
AAON Company Profile
(
Free Report)
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.
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