Wellington Management Group LLP Acquires Shares of 70,613 AAON, Inc. (NASDAQ:AAON)

Wellington Management Group LLP bought a new stake in AAON, Inc. (NASDAQ:AAON - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 70,613 shares of the construction company's stock, valued at approximately $8,310,000. Wellington Management Group LLP owned approximately 0.09% of AAON as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AAON. Mather Group LLC. boosted its holdings in shares of AAON by 521.6% in the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company's stock valued at $27,000 after acquiring an additional 193 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of AAON in the fourth quarter valued at about $33,000. Quarry LP lifted its stake in shares of AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after purchasing an additional 103 shares during the period. Blue Trust Inc. lifted its stake in shares of AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock valued at $41,000 after purchasing an additional 84 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of AAON in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 70.81% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on AAON. Wall Street Zen cut shares of AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Robert W. Baird reduced their price objective on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. CJS Securities upgraded shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research note on Friday, February 28th. Finally, DA Davidson reduced their price objective on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AAON presently has a consensus rating of "Moderate Buy" and an average price target of $115.50.

AAON Price Performance

AAON traded up $1.83 during midday trading on Friday, reaching $96.68. 658,877 shares of the company's stock were exchanged, compared to its average volume of 657,501. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The stock has a market capitalization of $7.87 billion, a PE ratio of 42.59 and a beta of 1.03. The business's 50-day moving average price is $91.37 and its 200 day moving average price is $104.79. AAON, Inc. has a 1-year low of $68.98 and a 1-year high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.13. The business had revenue of $322.05 million during the quarter, compared to analyst estimates of $289.16 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The company's revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 earnings per share. As a group, equities analysts anticipate that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be issued a $0.10 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.40 annualized dividend and a yield of 0.41%. AAON's payout ratio is 21.05%.

AAON declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at AAON

In other AAON news, CEO Gary D. Fields sold 37,189 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the completion of the sale, the chief executive officer now directly owns 63,714 shares in the company, valued at $6,256,714.80. The trade was a 36.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gordon Douglas Wichman sold 3,975 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $105.75, for a total transaction of $420,356.25. Following the sale, the director now owns 8,754 shares of the company's stock, valued at approximately $925,735.50. This represents a 31.23% decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 18.70% of the company's stock.

About AAON

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.