Wellington Management Group LLP Has $5.16 Million Stock Position in AAON, Inc. $AAON

Key Points

• Wellington Management Group LLP reduced its ownership in AAON, Inc. by 6.4%, holding $5.16 million worth of shares after selling 4,517 shares during the first quarter.
• AAON reported poor earnings results, missing analysts' expectations with $0.22 earnings per share for the quarter and generating revenue of $311.57 million, lower than the forecast of $326.15 million.
• The company announced a quarterly dividend of $0.10 per share, with a payout ratio of 27.21%, to be distributed on September 26th to shareholders of record by September 5th.

Wellington Management Group LLP lowered its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 66,096 shares of the construction company's stock after selling 4,517 shares during the quarter. Wellington Management Group LLP owned about 0.08% of AAON worth $5,164,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Rakuten Securities Inc. lifted its stake in shares of AAON by 613.3% in the 1st 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 lifted its stake in shares of AAON by 652.3% in the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock valued at $26,000 after purchasing an additional 287 shares during the period. Quarry LP raised its stake in AAON by 49.0% during the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after buying an additional 103 shares during the period. UMB Bank n.a. raised its stake in AAON by 81.2% during the 1st quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock worth $46,000 after buying an additional 264 shares during the period. Finally, Parallel Advisors LLC raised its stake in AAON by 26.3% during the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock worth $56,000 after buying an additional 149 shares during the period. Institutional investors and hedge funds own 70.81% of the company's stock.

Insiders Place Their Bets

In other news, insider Christopher Douglas Eason sold 12,003 shares of the business's stock in a transaction that occurred on 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 18.70% of the stock is currently owned by company insiders.

AAON Price Performance

Shares of NASDAQ AAON opened at $82.95 on Friday. The business's 50 day moving average price is $79.04 and its two-hundred day moving average price is $85.48. The company has a market cap of $6.76 billion, a PE ratio of 56.43 and a beta of 0.94. 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, Inc. has a twelve month low of $62.00 and a twelve month high of $144.07.

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

AAON Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on AAON shares. Wall Street Zen downgraded AAON from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 17th. DA Davidson lowered their target price on AAON from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. 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. Finally, Robert W. Baird lowered their target price on AAON from $102.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat, AAON currently has a consensus rating of "Buy" and an average target price of $102.00.

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.

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