Swedbank AB Acquires 87,000 Shares of AAON, Inc. $AAON

Key Points

• Swedbank AB has increased its stake in AAON, Inc. by 67.4%, owning approximately $15.93 million worth of the company's stock.
• A number of other institutional investors have also raised their stakes in AAON, with significant increases reported by Blair William & Co. and Federated Hermes Inc.
• AAON announced a quarterly dividend of $0.10 per share, with an ex-dividend date of September 5th, representing a 0.4% annual yield.

Swedbank AB lifted its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 67.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 216,000 shares of the construction company's stock after buying an additional 87,000 shares during the period. Swedbank AB owned approximately 0.27% of AAON worth $15,930,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AAON. Rakuten Securities Inc. boosted its stake in shares of AAON by 613.3% during the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after purchasing an additional 276 shares during the period. Versant Capital Management Inc boosted its position in AAON by 652.3% during the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock valued at $26,000 after buying an additional 287 shares during the period. Park Square Financial Group LLC bought a new stake in AAON in the 4th quarter worth $57,000. UMB Bank n.a. increased its position in shares of AAON by 81.2% in the first quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock valued at $46,000 after acquiring an additional 264 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of AAON by 26.3% during the first 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 last quarter. 70.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

AAON Stock Down 0.2%

AAON stock traded down $0.22 during midday trading on Tuesday, hitting $92.72. The company's stock had a trading volume of 521,273 shares, compared to its average volume of 1,025,487. The firm's 50-day moving average is $81.87 and its 200-day moving average is $83.83. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. AAON, Inc. has a 12 month low of $62.00 and a 12 month high of $144.07. The company has a market cap of $7.56 billion, a PE ratio of 62.84 and a beta of 1.00.

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

AAON Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be given 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 0.4%. AAON's payout ratio is 27.21%.

Insider Activity

In other news, CFO Rebecca Thompson sold 9,350 shares of AAON stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $81.09, for a total value of $758,191.50. Following the completion of the sale, the chief financial officer directly owned 24,396 shares in the company, valued at $1,978,271.64. The trade was a 27.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher Douglas Eason sold 12,003 shares of the business'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 transaction, the insider directly owned 5,301 shares of the company's stock, valued at $451,009.08. The trade was a 69.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.55% of the stock is currently owned by corporate insiders.

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.