Allied Investment Advisors LLC Sells 44,090 Shares of AAON, Inc. $AAON

Allied Investment Advisors LLC decreased its stake in shares of AAON, Inc. (NASDAQ:AAON) by 22.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 154,562 shares of the construction company’s stock after selling 44,090 shares during the period. AAON accounts for 1.8% of Allied Investment Advisors LLC’s portfolio, making the stock its 24th largest position. Allied Investment Advisors LLC’s holdings in AAON were worth $11,785,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AAON. Wellington Management Group LLP increased its holdings in AAON by 512.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company’s stock worth $442,896,000 after acquiring an additional 3,966,088 shares during the period. Champlain Investment Partners LLC increased its position in shares of AAON by 96.4% in the third quarter. Champlain Investment Partners LLC now owns 2,320,319 shares of the construction company’s stock worth $216,811,000 after purchasing an additional 1,138,658 shares during the last quarter. Wasatch Advisors LP increased its position in shares of AAON by 27.1% in the third quarter. Wasatch Advisors LP now owns 2,138,959 shares of the construction company’s stock worth $199,864,000 after purchasing an additional 456,560 shares during the last quarter. First Trust Advisors LP raised its stake in AAON by 136.4% in the third quarter. First Trust Advisors LP now owns 1,933,595 shares of the construction company’s stock valued at $180,675,000 after purchasing an additional 1,115,566 shares in the last quarter. Finally, Conestoga Capital Advisors LLC raised its stake in AAON by 5.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,776,013 shares of the construction company’s stock valued at $135,421,000 after purchasing an additional 84,693 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AAON. Zacks Research upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Wall Street Zen upgraded shares of AAON from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. DA Davidson reaffirmed a “buy” rating and issued a $120.00 price objective on shares of AAON in a research note on Tuesday, February 3rd. Oppenheimer reaffirmed an “outperform” rating on shares of AAON in a report on Friday, May 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of AAON in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $107.75.

Insiders Place Their Bets

In related news, insider Casey Kidwell sold 3,153 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $138.30, for a total value of $436,059.90. Following the completion of the sale, the insider owned 13,463 shares of the company’s stock, valued at $1,861,932.90. This trade represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary D. Fields sold 19,081 shares of AAON stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $137.60, for a total transaction of $2,625,545.60. Following the sale, the director directly owned 34,252 shares in the company, valued at $4,713,075.20. The trade was a 35.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 108,295 shares of company stock valued at $13,323,408 over the last three months. Company insiders own 18.09% of the company’s stock.

AAON Stock Performance

Shares of AAON stock opened at $134.60 on Tuesday. The company has a market capitalization of $11.03 billion, a P/E ratio of 94.13, a PEG ratio of 3.77 and a beta of 1.24. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $149.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62. The stock has a 50 day moving average price of $100.03 and a two-hundred day moving average price of $93.79.

AAON (NASDAQ:AAON) last issued its earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.17. The firm had revenue of $496.94 million for the quarter, compared to analysts’ expectations of $381.08 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. The business’s revenue was up 54.3% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. Analysts expect that AAON, Inc. will post 2.23 earnings per share for the current year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. AAON’s dividend payout ratio (DPR) is presently 27.97%.

About AAON

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.