Wasatch Advisors LP Increases Position in AAON, Inc. (NASDAQ:AAON)

Wasatch Advisors LP raised its position in AAON, Inc. (NASDAQ:AAON) by 39.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,866,746 shares of the construction company’s stock after purchasing an additional 525,132 shares during the quarter. Wasatch Advisors LP’s holdings in AAON were worth $201,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in AAON by 1.0% in the third quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock valued at $949,000 after purchasing an additional 89 shares during the period. Cynosure Group LLC raised its position in AAON by 56.2% in the third quarter. Cynosure Group LLC now owns 7,234 shares of the construction company’s stock valued at $780,000 after purchasing an additional 2,602 shares during the period. Hardy Reed LLC purchased a new stake in AAON in the third quarter valued at approximately $243,000. Townsquare Capital LLC raised its position in AAON by 5.1% in the third quarter. Townsquare Capital LLC now owns 124,274 shares of the construction company’s stock valued at $13,402,000 after purchasing an additional 6,012 shares during the period. Finally, BNP Paribas Financial Markets raised its position in AAON by 99.2% in the third quarter. BNP Paribas Financial Markets now owns 10,305 shares of the construction company’s stock valued at $1,111,000 after purchasing an additional 5,133 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AAON. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Sidoti lowered AAON from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $102.00 to $111.00 in a research report on Tuesday, October 22nd. DA Davidson upped their price objective on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Robert W. Baird upped their price objective on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Insider Transactions at AAON

In other news, VP Casey Kidwell sold 4,796 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total transaction of $654,078.48. Following the completion of the sale, the vice president now owns 4,953 shares in the company, valued at approximately $675,490.14. This represents a 49.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stephen E. Wakefield sold 5,750 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $139.86, for a total transaction of $804,195.00. Following the sale, the vice president now owns 9,920 shares of the company’s stock, valued at $1,387,411.20. This trade represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,967 shares of company stock worth $6,271,357. Company insiders own 18.55% of the company’s stock.

AAON Stock Performance

Shares of AAON stock opened at $136.34 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average price of $118.73 and a 200 day moving average price of $96.82. The company has a market cap of $11.08 billion, a P/E ratio of 60.06 and a beta of 0.79. AAON, Inc. has a 12 month low of $61.09 and a 12 month high of $144.07.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. AAON had a net margin of 15.78% and a return on equity of 24.98%. The company had revenue of $327.25 million during the quarter, compared to the consensus estimate of $315.80 million. During the same quarter in the prior year, the firm posted $0.64 earnings per share. AAON’s revenue for the quarter was up 4.9% on a year-over-year basis. Sell-side analysts predict that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. AAON’s dividend payout ratio (DPR) is 14.10%.

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.