State of Alaska Department of Revenue Decreases Stock Position in AAON, Inc. $AAON

State of Alaska Department of Revenue reduced its stake in AAON, Inc. (NASDAQ:AAON) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,580 shares of the construction company’s stock after selling 325 shares during the period. State of Alaska Department of Revenue’s holdings in AAON were worth $559,000 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. Blair William & Co. IL grew its stake in AAON by 86.2% in the 1st quarter. Blair William & Co. IL now owns 2,177,688 shares of the construction company’s stock worth $170,143,000 after acquiring an additional 1,007,906 shares in the last quarter. Mawer Investment Management Ltd. bought a new position in AAON in the 1st quarter worth about $44,219,000. Brown Advisory Inc. bought a new position in AAON in the 1st quarter worth about $41,180,000. Impax Asset Management Group plc bought a new position in AAON in the 1st quarter worth about $36,223,000. Finally, Federated Hermes Inc. grew its stake in AAON by 5,973.3% in the 1st quarter. Federated Hermes Inc. now owns 390,632 shares of the construction company’s stock worth $30,520,000 after acquiring an additional 384,200 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of AAON in a research note on Tuesday, September 30th. Wall Street Zen cut shares of AAON from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 17th. Robert W. Baird lowered their price target on shares of AAON from $102.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Sidoti raised 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. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, AAON presently has an average rating of “Buy” and a consensus target price of $102.60.

Insiders Place Their Bets

In other AAON news, CFO Rebecca Thompson sold 9,350 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $81.09, for a total value of $758,191.50. Following the completion of the transaction, the chief financial officer owned 24,396 shares of the company’s stock, valued at approximately $1,978,271.64. This trade represents a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $1,021,215.24. Following the completion of the transaction, the insider directly owned 5,301 shares of the company’s stock, valued at approximately $451,009.08. This represents a 69.37% decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.70% of the company’s stock.

AAON Trading Down 0.6%

NASDAQ:AAON opened at $102.45 on Thursday. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $144.07. The firm has a 50 day moving average of $86.04 and a 200 day moving average of $85.04. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 69.69 and a beta of 1.05.

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

AAON Announces Dividend

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

AAON Profile

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.