AAON, Inc. $AAON Shares Acquired by Royce & Associates LP

Royce & Associates LP boosted its position in AAON, Inc. (NASDAQ:AAON) by 66.9% during the third quarter, Holdings Channel.com reports. The fund owned 642,995 shares of the construction company’s stock after acquiring an additional 257,797 shares during the period. Royce & Associates LP’s holdings in AAON were worth $53,214,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AAON. SummitTX Capital L.P. raised its stake in shares of AAON by 1.7% during the first quarter. SummitTX Capital L.P. now owns 4,622 shares of the construction company’s stock valued at $382,000 after acquiring an additional 76 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of AAON by 0.8% during the second quarter. Arizona State Retirement System now owns 19,196 shares of the construction company’s stock worth $2,435,000 after purchasing an additional 161 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of AAON by 48.0% during the first quarter. EverSource Wealth Advisors LLC now owns 549 shares of the construction company’s stock worth $45,000 after purchasing an additional 178 shares during the period. Summitry LLC boosted its holdings in shares of AAON by 2.6% during the first quarter. Summitry LLC now owns 7,830 shares of the construction company’s stock worth $648,000 after purchasing an additional 195 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of AAON by 1.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 14,302 shares of the construction company’s stock worth $1,184,000 after purchasing an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

AAON Trading Up 1.8%

Shares of AAON traded up $1.45 during trading hours on Friday, reaching $80.25. 1,460,830 shares of the company traded hands, compared to its average volume of 1,567,883. The company’s fifty day moving average price is $76.86 and its two-hundred day moving average price is $96.48. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 1.29 and a beta of 1.45. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.36. AAON, Inc. has a 12 month low of $53.13 and a 12 month high of $150.46.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Monday, November 9th. The construction company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.26. AAON had a net margin of 8.75% and a return on equity of 20.23%. The company had revenue of $707.43 million for the quarter, compared to analysts’ expectations of $601.19 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. AAON’s quarterly revenue was up 84.1% on a year-over-year basis. Equities research analysts predict that AAON, Inc. will post 2.66 earnings per share for the current fiscal year.

AAON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Wednesday, November 25th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $0.40 annualized dividend and a yield of 0.5%. AAON’s dividend payout ratio (DPR) is 16.81%.

Insider Activity

In other news, Director David Stewart bought 1,000 shares of AAON stock in a transaction on Tuesday, September 15th. The shares were purchased at an average price of $74.66 per share, for a total transaction of $74,660.00. Following the acquisition, the director owned 4,000 shares of the company’s stock, valued at approximately $298,640. The trade was a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Matthew Shaub bought 457 shares of AAON stock in a transaction on Friday, August 28th. The shares were purchased at an average price of $76.42 per share, for a total transaction of $34,923.94. Following the acquisition, the executive vice president directly owned 3,136 shares in the company, valued at approximately $239,653.12. This trade represents a 17.06% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 18.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AAON. Zacks Research upgraded AAON from a “hold” rating to a “strong-buy” rating in a report on Thursday. Robert W. Baird lowered their price target on AAON from $110.00 to $104.00 and set an “outperform” rating for the company in a research report on Tuesday, November 10th. DA Davidson began coverage on AAON in a report on Tuesday, September 15th. They issued a “buy” rating and a $110.00 price objective for the company. KeyCorp reiterated a “sector weight” rating on shares of AAON in a report on Thursday, August 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective (down from $115.00) on shares of AAON in a research report on Tuesday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.33.

More AAON News

Here’s some of the latest news about AAON:

• Positive Sentiment: AAON reported record third-quarter revenue of $707.4 million, up 84.1% year over year, and EPS of $0.83, above the $0.57 consensus estimate. Management raised its full-year sales-growth outlook to 72%–75%, citing strong demand that includes data-center cooling systems. Why AAON Stock Surged 37.8% This Week
• Neutral Sentiment: Analyst price targets imply potential upside, and one valuation article described the shares as possibly undervalued. These are estimates rather than assured returns, particularly after a sharp recent rally. AAON Could Be 33% Undervalued
• Negative Sentiment: A report said Baird lowered its expectations for AAON’s stock price, providing a cautionary counterpoint to the stronger earnings outlook. Baird Lowers Expectations for AAON

About AAON

AAON, Inc. designs and manufactures heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial buildings. Founded in 1988, the company is headquartered in Tulsa, Oklahoma, and sells products under the AAON and BASX brands. Its products include rooftop units, chillers, air-handling units, heat pumps and other custom HVAC systems. BASX specializes in equipment for data centers and other demanding applications, while AAON also offers controls and related services. AAON serves customers primarily in North America, with products also reaching international markets through its sales and distribution network.