23,550 AAON, Inc. $AAON Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. trimmed its position in shares of AAON, Inc. (NASDAQ:AAON) by 15.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,586 shares of the construction company’s stock after selling 23,550 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in AAON were worth $10,476,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wasatch Advisors LP raised its stake in shares of AAON by 3.1% during the second quarter. Wasatch Advisors LP now owns 2,338,517 shares of the construction company’s stock valued at $296,664,000 after acquiring an additional 70,399 shares during the last quarter. First Trust Advisors LP grew its stake in shares of AAON by 22.1% in the 1st quarter. First Trust Advisors LP now owns 2,013,215 shares of the construction company’s stock worth $166,594,000 after buying an additional 364,101 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of AAON by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 1,381,303 shares of the construction company’s stock valued at $105,343,000 after acquiring an additional 20,588 shares in the last quarter. Franklin Resources Inc. increased its stake in AAON by 8,956.4% during the 4th quarter. Franklin Resources Inc. now owns 1,222,706 shares of the construction company’s stock valued at $93,231,000 after purchasing an additional 1,209,205 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in AAON in the 2nd quarter worth approximately $55,284,000. 70.81% of the stock is owned by institutional investors.

Insider Transactions at AAON

In related news, EVP Matthew Shaub purchased 457 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was purchased at an average price of $76.42 per share, with a total value of $34,923.94. Following the completion of the purchase, the executive vice president owned 3,136 shares of the company’s stock, valued at approximately $239,653.12. The trade was a 17.06% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David Stewart acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average cost of $74.66 per share, with a total value of $74,660.00. Following the completion of the purchase, the director owned 4,000 shares of the company’s stock, valued at $298,640. This trade represents a 33.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 18.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AAON shares. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a report on Tuesday, July 14th. Zacks Research cut shares of AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. DA Davidson reissued a “buy” rating and set a $110.00 price objective on shares of AAON in a research report on Tuesday, September 15th. Robert W. Baird reduced their price objective on AAON from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Finally, Oppenheimer decreased their target price on AAON from $145.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, AAON has an average rating of “Moderate Buy” and a consensus price target of $123.33.

AAON Price Performance

AAON stock traded up $1.22 during midday trading on Monday, hitting $84.49. The company’s stock had a trading volume of 217,221 shares, compared to its average volume of 1,063,976. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 44.01, a price-to-earnings-growth ratio of 1.58 and a beta of 1.41. The company has a quick ratio of 2.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. AAON, Inc. has a 12 month low of $73.19 and a 12 month high of $150.46. The company has a 50 day moving average of $82.80 and a two-hundred day moving average of $101.66.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.51 by $0.18. The business had revenue of $626.98 million for the quarter, compared to analysts’ expectations of $508.82 million. AAON had a net margin of 8.24% and a return on equity of 17.32%. The business’s quarterly revenue was up 101.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. On average, analysts expect that AAON, Inc. will post 2.29 EPS for the current year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, September 4th. AAON’s payout ratio is currently 20.83%.

AAON Company Profile

AAON, Inc (NASDAQ:AAON) designs and manufactures high-efficiency heating, ventilation, and air conditioning (HVAC) equipment for commercial and industrial applications. The company is headquartered in Tulsa, Oklahoma, and was founded in 1988 by Norm Asbjornson.

Its product portfolio includes rooftop units, air-handling units, condensing units, heat pumps, chillers, and related HVAC components. AAON’s equipment is used in applications such as office buildings, schools, healthcare facilities, retail properties, data centers, and other commercial or industrial structures.

AAON sells its products primarily through manufacturer representatives and other distribution channels serving customers in the United States and Canada.