PNC Financial Services Group Inc. Has $326,000 Position in AAON, Inc. (NASDAQ:AAON)

PNC Financial Services Group Inc. increased its stake in AAON, Inc. (NASDAQ:AAON) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,174 shares of the construction company’s stock after purchasing an additional 306 shares during the period. PNC Financial Services Group Inc.’s holdings in AAON were worth $326,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of AAON by 39.7% during the first quarter. Bank of New York Mellon Corp now owns 1,101,692 shares of the construction company’s stock worth $86,075,000 after acquiring an additional 312,855 shares during the last quarter. First Trust Advisors LP increased its position in AAON by 85.6% in the fourth quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company’s stock worth $125,813,000 after purchasing an additional 493,219 shares during the period. Driehaus Capital Management LLC raised its holdings in AAON by 5.5% during the 4th quarter. Driehaus Capital Management LLC now owns 693,407 shares of the construction company’s stock worth $81,600,000 after purchasing an additional 36,362 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in AAON by 107.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 654,794 shares of the construction company’s stock worth $51,833,000 after purchasing an additional 339,558 shares during the last quarter. Finally, Northern Trust Corp lifted its position in AAON by 27.3% during the 4th quarter. Northern Trust Corp now owns 625,406 shares of the construction company’s stock valued at $73,598,000 after purchasing an additional 133,961 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insider Buying and Selling

In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total value of $2,225,632.96. Following the completion of the transaction, the director directly owned 8,754 shares of the company’s stock, valued at approximately $914,617.92. The trade was a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.70% of the company’s stock.

AAON Stock Performance

Shares of NASDAQ:AAON opened at $79.55 on Friday. The firm’s 50 day simple moving average is $77.55 and its 200 day simple moving average is $87.58. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $144.07. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 54.12 and a beta of 0.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.10 and a quick ratio of 1.80.

AAON (NASDAQ:AAON) last issued its earnings results on Monday, August 11th. The construction company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.09). The firm had revenue of $311.57 million during the quarter, compared to the consensus estimate of $326.15 million. AAON had a net margin of 9.70% and a return on equity of 15.45%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 EPS. As a group, sell-side analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 5th. AAON’s dividend payout ratio (DPR) is presently 27.21%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AAON shares. Sidoti upgraded shares of AAON from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a research report on Monday, June 16th. Robert W. Baird lowered their target price on shares of AAON from $102.00 to $98.00 and set a “buy” rating for the company in a report on Tuesday. Wall Street Zen upgraded shares of AAON from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, DA Davidson reduced their price target on AAON from $125.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AAON currently has a consensus rating of “Buy” and an average target price of $102.00.

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.