Wealth Enhancement Advisory Services LLC Sells 25,611 Shares of AAON, Inc. $AAON

Key Points

• Wealth Enhancement Advisory Services LLC significantly reduced its holdings in AAON, Inc. by 90.4% during Q2, selling 25,611 shares and retaining only 2,718 shares worth approximately $205,000.
• Several institutional investors, including Rakuten Securities Inc. and UMB Bank n.a., increased their stakes in AAON significantly during Q1, indicating growing interest despite Wealth Enhancement's divestment.
• AAON's CFO sold 9,350 shares at an average price of $81.09, which is a notable 27.71% decrease in her ownership, while analysts have mixed ratings with a consensus price target of $102.60.

Wealth Enhancement Advisory Services LLC cut its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 90.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,718 shares of the construction company's stock after selling 25,611 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in AAON were worth $205,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AAON. Rakuten Securities Inc. boosted its holdings in shares of AAON by 613.3% in the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock worth $25,000 after acquiring an additional 276 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of AAON by 81.2% in the 1st quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock valued at $46,000 after purchasing an additional 264 shares during the period. CWM LLC lifted its stake in shares of AAON by 25.7% in the 1st quarter. CWM LLC now owns 938 shares of the construction company's stock valued at $73,000 after purchasing an additional 192 shares during the period. SBI Securities Co. Ltd. raised its stake in AAON by 987.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,174 shares of the construction company's stock worth $92,000 after buying an additional 1,066 shares during the period. Finally, Parallel Advisors LLC raised its stake in AAON by 79.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,285 shares of the construction company's stock worth $95,000 after buying an additional 569 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price for the company in a report on Monday, June 16th. Oppenheimer reiterated an "outperform" rating and issued a $105.00 target price on shares of AAON in a research note on Tuesday, September 30th. Wall Street Zen downgraded shares of AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. Robert W. Baird cut their price objective on shares of AAON from $102.00 to $98.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Finally, DA Davidson dropped their price target on shares of AAON from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $102.60.

Insiders Place Their Bets

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 sale, the chief financial officer owned 24,396 shares of the company's stock, valued at $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 is available at this link. 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 sale, the insider directly owned 5,301 shares in the company, valued at $451,009.08. The trade was a 69.37% decrease in their position. The disclosure for this sale can be found here. 18.70% of the stock is owned by company insiders.

AAON Trading Down 1.7%

Shares of AAON stock opened at $99.50 on Friday. AAON, Inc. has a 52-week low of $62.00 and a 52-week high of $144.07. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10. The company has a 50-day simple moving average of $86.75 and a two-hundred day simple moving average of $85.30. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 67.69 and a beta of 1.05.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings data on Tuesday, June 10th. The construction company reported $0.37 earnings per share for the quarter. AAON had a return on equity of 15.45% and a net margin of 9.70%.The company had revenue of $322.05 million during the quarter. Research analysts anticipate that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, September 5th. AAON's dividend payout ratio (DPR) 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.

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