Wellington Management Group LLP Sells 2,204,688 Shares of AAON, Inc. $AAON

Key Points

• Wellington Management reduced its AAON stake by 27.6%, selling 2.2 million shares in the second quarter but retaining 5.77 million shares worth approximately $732.3 million, or about 7% of the company.
• AAON shares opened at $75.87, near their 52-week low of $73.19 and well below the 52-week high of $150.46. Analysts maintain a “Moderate Buy” consensus, with an average price target of $126.67.
• AAON reported strong quarterly results, with revenue rising 101.2% year over year to $626.98 million and EPS of $0.69, beating estimates. The company also declared a quarterly dividend of $0.10 per share, equivalent to a 0.5% annual yield.

Wellington Management Group LLP cut its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 27.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,772,476 shares of the construction company's stock after selling 2,204,688 shares during the quarter. Wellington Management Group LLP owned about 7.00% of AAON worth $732,296,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. SummitTX Capital L.P. lifted its holdings in AAON by 1.7% during the 1st quarter. SummitTX Capital L.P. now owns 4,622 shares of the construction company's stock valued at $382,000 after purchasing an additional 76 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of AAON by 1.7% in the fourth quarter. Toronto Dominion Bank now owns 5,889 shares of the construction company's stock valued at $448,000 after purchasing an additional 99 shares during the last quarter. Huntington National Bank increased its holdings in shares of AAON by 21.1% in the fourth quarter. Huntington National Bank now owns 689 shares of the construction company's stock valued at $53,000 after purchasing an additional 120 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of AAON by 96.5% in the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after purchasing an additional 164 shares during the period. Finally, Hantz Financial Services Inc. raised its position in shares of AAON by 20.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,052 shares of the construction company's stock valued at $80,000 after purchasing an additional 181 shares during the period. Institutional investors own 70.81% of the company's stock.

AAON Stock Down 2.9%

AAON stock opened at $75.87 on Friday. AAON, Inc. has a fifty-two week low of $73.19 and a fifty-two week high of $150.46. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 1.44 and a beta of 1.45. The business's fifty day moving average price is $100.77 and its two-hundred day moving average price is $104.67.

AAON (NASDAQ:AAON - Get Free Report) last announced its earnings results on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.18. AAON had a net margin of 8.24% and a return on equity of 17.32%. The company had revenue of $626.98 million during the quarter, compared to analysts' expectations of $508.82 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. AAON's quarterly revenue was up 101.2% on a year-over-year basis. On average, equities analysts anticipate that AAON, Inc. will post 2.3 earnings per share for the current year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. AAON's payout ratio is currently 20.83%.

Wall Street Analyst Weigh In

Several analysts recently commented on AAON shares. Robert W. Baird reduced their target price on shares of AAON from $150.00 to $135.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Weiss Ratings reissued a "hold (c)" rating on shares of AAON in a report on Tuesday, July 14th. KeyCorp restated a "sector weight" rating on shares of AAON in a research report on Thursday, August 13th. Oppenheimer reduced their price objective on AAON from $145.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Finally, Zacks Research cut AAON from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.67.

Insider Transactions at AAON

In other AAON news, CAO Rebecca Thompson sold 4,230 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total transaction of $606,666.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.09% of the stock is owned by corporate insiders.

AAON Profile

AAON, Inc NASDAQ: AAON is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company's product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON's core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.

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