Voya Investment Management LLC Raises Stock Position in AAON, Inc. $AAON

Key Points

• Voya Investment Management LLC increased its stake in AAON, Inc. by 333.8% in the first quarter, acquiring an additional 302,282 shares, bringing its total holdings to 392,841 shares valued at $30.69 million.
• AAON recently announced a $0.10 quarterly dividend, which reflects a 0.5% yield and a payout ratio of 27.21%.
• The company's latest earnings report revealed a significant miss on EPS estimates, posting $0.22 EPS against an expected $0.31, with revenues of $311.57 million compared to projections of $326.15 million.

Voya Investment Management LLC increased its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 333.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392,841 shares of the construction company's stock after purchasing an additional 302,282 shares during the period. Voya Investment Management LLC owned approximately 0.48% of AAON worth $30,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AAON. Blair William & Co. IL grew its position in AAON by 86.2% during the first quarter. Blair William & Co. IL now owns 2,177,688 shares of the construction company's stock valued at $170,143,000 after buying an additional 1,007,906 shares during the period. Mawer Investment Management Ltd. acquired a new stake in AAON during the first quarter valued at $44,219,000. Brown Advisory Inc. acquired a new stake in AAON during the first quarter valued at $41,180,000. Impax Asset Management Group plc acquired a new stake in AAON during the first quarter valued at $36,223,000. Finally, Federated Hermes Inc. grew its position in AAON by 5,973.3% during the first quarter. Federated Hermes Inc. now owns 390,632 shares of the construction company's stock valued at $30,520,000 after buying an additional 384,200 shares during the period. Hedge funds and other institutional investors own 70.81% of the company's stock.

Analysts Set New Price Targets

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

Insider Transactions at AAON

In related news, CFO Rebecca Thompson sold 9,350 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $81.09, for a total transaction of $758,191.50. Following the transaction, the chief financial officer directly owned 24,396 shares in the company, valued at approximately $1,978,271.64. The trade was a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Douglas Eason sold 12,003 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the transaction, the insider owned 5,301 shares in the company, 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. Insiders own 18.70% of the company's stock.

AAON Price Performance

Shares of NASDAQ AAON traded up $6.99 during trading on Thursday, hitting $87.51. The company had a trading volume of 669,489 shares, compared to its average volume of 1,015,845. The stock has a fifty day simple moving average of $81.03 and a two-hundred day simple moving average of $83.51. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $144.07. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 59.49 and a beta of 1.00. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38.

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

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, September 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. AAON's payout ratio is presently 27.21%.

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.