Teacher Retirement System of Texas Purchases Shares of 10,099 AAON, Inc. (NASDAQ:AAON)

Teacher Retirement System of Texas bought a new position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,099 shares of the construction company's stock, valued at approximately $789,000.

A number of other large investors also recently modified their holdings of AAON. PNC Financial Services Group Inc. lifted its holdings in shares of AAON by 6.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company's stock worth $455,000 after buying an additional 244 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of AAON by 4.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,223 shares of the construction company's stock valued at $1,438,000 after purchasing an additional 534 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of AAON by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 13,328 shares of the construction company's stock valued at $1,568,000 after purchasing an additional 285 shares in the last quarter. Swiss National Bank raised its stake in shares of AAON by 0.9% in the fourth quarter. Swiss National Bank now owns 135,425 shares of the construction company's stock valued at $15,937,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in AAON by 42.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,876 shares of the construction company's stock worth $338,000 after acquiring an additional 861 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Stock Down 1.1%

AAON stock traded down $0.85 during mid-day trading on Friday, reaching $78.62. The stock had a trading volume of 582,031 shares, compared to its average volume of 687,165. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 2.77. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07. The stock's 50-day simple moving average is $85.68 and its 200-day simple moving average is $93.91. The firm has a market capitalization of $6.40 billion, a PE ratio of 41.23 and a beta of 0.95.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 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 business had revenue of $322.05 million for the quarter, compared to analyst estimates of $289.16 million. During the same period last year, the company posted $0.46 earnings per share. AAON's quarterly revenue was up 22.9% compared to the same quarter last year. On average, sell-side analysts forecast that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, June 6th. AAON's dividend payout ratio is presently 21.05%.

Insider Activity

In related news, Director Gordon Douglas Wichman sold 21,302 shares of the company'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 completion of the transaction, the director owned 8,754 shares in the company, valued at $914,617.92. This represents a 70.87% 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, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $98.66, for a total value of $824,501.62. Following the completion of the sale, the chief executive officer directly owned 26,491 shares of the company's stock, valued at approximately $2,613,602.06. The trade was a 23.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,823 shares of company stock valued at $7,122,451 over the last 90 days. 18.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AAON has been the topic of several recent research reports. Wall Street Zen upgraded AAON from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target on the stock in a report on Monday, June 16th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $111.50.

AAON Company 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.