Swedbank AB Trims Holdings in AAON, Inc. $AAON

Key Points

• Swedbank AB trimmed its AAON stake by 6.2% in the fourth quarter, selling 20,000 shares and ending with 305,000 shares worth about $23.3 million.
• AAON posted stronger-than-expected quarterly results, with EPS of $0.48 on revenue of $496.94 million, both beating analyst estimates. Revenue rose 54.3% year over year.
• Insiders have been selling shares, including CEO Matthew Joseph Tobolski and insider Casey Kidwell, while analysts remain generally bullish with an average rating of “Buy” and an average target price of $107.75.

Swedbank AB trimmed its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 6.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 305,000 shares of the construction company's stock after selling 20,000 shares during the quarter. Swedbank AB owned about 0.37% of AAON worth $23,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in AAON by 512.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company's stock worth $442,896,000 after purchasing an additional 3,966,088 shares during the period. Champlain Investment Partners LLC boosted its stake in AAON by 96.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,320,319 shares of the construction company's stock worth $216,811,000 after purchasing an additional 1,138,658 shares during the period. Wasatch Advisors LP boosted its stake in AAON by 27.1% in the 3rd quarter. Wasatch Advisors LP now owns 2,138,959 shares of the construction company's stock worth $199,864,000 after purchasing an additional 456,560 shares during the period. First Trust Advisors LP boosted its stake in AAON by 136.4% in the 3rd quarter. First Trust Advisors LP now owns 1,933,595 shares of the construction company's stock worth $180,675,000 after purchasing an additional 1,115,566 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its stake in AAON by 5.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,776,013 shares of the construction company's stock worth $135,421,000 after purchasing an additional 84,693 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Matthew Joseph Tobolski sold 8,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $135.37, for a total transaction of $1,082,960.00. Following the sale, the chief executive officer owned 114,371 shares in the company, valued at approximately $15,482,402.27. This represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Casey Kidwell sold 3,153 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $138.30, for a total value of $436,059.90. Following the sale, the insider owned 13,463 shares in the company, valued at $1,861,932.90. The trade was a 18.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 108,295 shares of company stock worth $13,323,408. 18.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

AAON Price Performance

NASDAQ AAON opened at $134.60 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62. The company has a market capitalization of $11.03 billion, a P/E ratio of 94.13, a P/E/G ratio of 3.77 and a beta of 1.24. AAON, Inc. has a one year low of $62.00 and a one year high of $149.00. The stock has a 50 day moving average price of $100.03 and a 200-day moving average price of $93.79.

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

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors 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 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.

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