Geneva Capital Management LLC Raises Stock Position in AAON, Inc. (NASDAQ:AAON)

Geneva Capital Management LLC grew its position in AAON, Inc. (NASDAQ:AAON) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,702,641 shares of the construction company’s stock after purchasing an additional 13,864 shares during the quarter. AAON makes up approximately 2.4% of Geneva Capital Management LLC’s portfolio, making the stock its 8th largest holding. Geneva Capital Management LLC’s holdings in AAON were worth $125,774,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AAON. Xponance Inc. increased its stake in shares of AAON by 51.3% in the 3rd quarter. Xponance Inc. now owns 4,004 shares of the construction company’s stock valued at $228,000 after acquiring an additional 1,357 shares during the last quarter. Raymond James & Associates raised its position in AAON by 51.2% in the third quarter. Raymond James & Associates now owns 94,784 shares of the construction company’s stock valued at $5,390,000 after purchasing an additional 32,085 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of AAON by 49.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 154,102 shares of the construction company’s stock valued at $8,764,000 after buying an additional 50,919 shares during the last quarter. Bank of New York Mellon Corp increased its stake in AAON by 48.7% in the third quarter. Bank of New York Mellon Corp now owns 622,243 shares of the construction company’s stock valued at $35,387,000 after purchasing an additional 203,653 shares in the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of AAON by 49.0% during the third quarter. New York State Teachers Retirement System now owns 23,390 shares of the construction company’s stock worth $1,330,000 after acquiring an additional 7,696 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Insider Transactions at AAON

In related news, Director Norman H. Asbjornson sold 19,136 shares of AAON stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $81.30, for a total transaction of $1,555,756.80. Following the completion of the transaction, the director now directly owns 14,874 shares of the company’s stock, valued at approximately $1,209,256.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Norman H. Asbjornson sold 19,136 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $81.30, for a total transaction of $1,555,756.80. Following the sale, the director now owns 14,874 shares of the company’s stock, valued at approximately $1,209,256.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Norman H. Asbjornson sold 805 shares of AAON stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $80.01, for a total transaction of $64,408.05. Following the completion of the sale, the director now directly owns 53,093 shares of the company’s stock, valued at approximately $4,247,970.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,596 shares of company stock valued at $3,613,768. Company insiders own 18.55% of the company’s stock.

AAON Price Performance

AAON stock traded up $0.76 during mid-day trading on Thursday, reaching $77.75. 634,189 shares of the company traded hands, compared to its average volume of 642,141. The company has a fifty day moving average price of $85.69 and a 200-day moving average price of $74.95. The company has a market capitalization of $6.39 billion, a P/E ratio of 36.22 and a beta of 0.88. AAON, Inc. has a 52-week low of $52.24 and a 52-week high of $96.34.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). AAON had a return on equity of 25.84% and a net margin of 15.44%. The firm had revenue of $262.10 million for the quarter, compared to the consensus estimate of $284.76 million. During the same period last year, the firm earned $0.45 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts forecast that AAON, Inc. will post 2.27 EPS for the current year.

AAON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, March 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. AAON’s dividend payout ratio is presently 14.91%.

Analysts Set New Price Targets

Separately, William Blair began coverage on AAON in a research report on Monday, April 29th. They set an “outperform” rating for the company.

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.