9,170 Shares in AAON, Inc. $AAON Acquired by Covey Capital Advisors LLC

Covey Capital Advisors LLC purchased a new stake in AAON, Inc. (NASDAQ:AAON) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,170 shares of the construction company’s stock, valued at approximately $676,000.

Several other hedge funds have also recently bought and sold shares of AAON. Caitong International Asset Management Co. Ltd bought a new position in shares of AAON during the second quarter valued at $26,000. UMB Bank n.a. increased its position in shares of AAON by 32.9% during the 2nd quarter. UMB Bank n.a. now owns 783 shares of the construction company’s stock worth $58,000 after purchasing an additional 194 shares in the last quarter. CWM LLC lifted its holdings in AAON by 25.7% during the 1st quarter. CWM LLC now owns 938 shares of the construction company’s stock valued at $73,000 after purchasing an additional 192 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new position in AAON in the second quarter valued at about $91,000. Finally, SBI Securities Co. Ltd. boosted its position in AAON by 987.0% in the first quarter. SBI Securities Co. Ltd. now owns 1,174 shares of the construction company’s stock valued at $92,000 after buying an additional 1,066 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAON has been the subject of several recent analyst reports. Zacks Research raised shares of AAON from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Wall Street Zen cut AAON from a “hold” rating to a “strong sell” rating in a report on Sunday, August 17th. Robert W. Baird cut their price objective on AAON from $102.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. DA Davidson decreased their target price on AAON from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Finally, Oppenheimer lifted their price target on AAON from $105.00 to $112.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, AAON currently has an average rating of “Moderate Buy” and an average price target of $104.00.

AAON Stock Down 2.5%

NASDAQ AAON opened at $100.66 on Friday. The stock has a market capitalization of $8.21 billion, a P/E ratio of 68.48 and a beta of 1.05. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $144.07. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10. The stock has a fifty day moving average of $92.50 and a 200-day moving average of $87.59.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Tuesday, June 10th. The construction company reported $0.37 earnings per share (EPS) for the quarter. The business had revenue of $322.05 million for the quarter. AAON had a return on equity of 15.45% and a net margin of 9.70%. On average, equities research analysts forecast that AAON, Inc. will post 2.26 EPS for the current year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, September 5th. AAON’s payout ratio is 27.21%.

Insider Buying and Selling

In other news, CFO Rebecca Thompson sold 9,350 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $81.09, for a total value of $758,191.50. Following the transaction, the chief financial officer owned 24,396 shares of the company’s stock, valued at $1,978,271.64. This represents a 27.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher Douglas Eason sold 12,003 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $85.08, for a total value of $1,021,215.24. Following the completion of the transaction, the insider owned 5,301 shares in the company, valued at $451,009.08. This represents a 69.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.