Stephens Investment Management Group LLC Purchases 129,598 Shares of AAON, Inc. (NASDAQ:AAON)

Stephens Investment Management Group LLC increased its position in shares of AAON, Inc. (NASDAQ:AAON) by 29.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 567,995 shares of the construction company’s stock after acquiring an additional 129,598 shares during the period. Stephens Investment Management Group LLC’s holdings in AAON were worth $61,253,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. lifted its stake in AAON by 106.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company’s stock worth $95,010,000 after purchasing an additional 561,195 shares during the last quarter. Blair William & Co. IL bought a new position in shares of AAON in the second quarter worth about $44,934,000. Millennium Management LLC lifted its holdings in shares of AAON by 212.3% in the second quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock worth $57,278,000 after acquiring an additional 446,344 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of AAON by 552.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 350,082 shares of the construction company’s stock valued at $30,541,000 after purchasing an additional 296,423 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in shares of AAON during the 2nd quarter valued at approximately $15,700,000. 70.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AAON. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a report on Monday. Robert W. Baird upgraded AAON from a “neutral” rating to an “outperform” rating and increased their target price for the company from $114.00 to $130.00 in a research report on Monday. Finally, Sidoti downgraded shares of AAON from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AAON presently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

AAON Trading Down 0.8 %

Shares of AAON stock opened at $114.22 on Friday. The stock has a 50-day moving average of $102.58 and a 200-day moving average of $90.00. The company has a current ratio of 2.99, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The stock has a market cap of $9.25 billion, a price-to-earnings ratio of 51.45 and a beta of 0.80. AAON, Inc. has a 1-year low of $54.19 and a 1-year high of $122.97.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. AAON had a net margin of 15.60% and a return on equity of 26.02%. The firm had revenue of $313.57 million for the quarter, compared to the consensus estimate of $283.77 million. During the same quarter in the previous year, the company earned $0.55 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts forecast that AAON, Inc. will post 2.28 earnings per share for the current year.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.32 annualized dividend and a yield of 0.28%. AAON’s payout ratio is 14.41%.

Insiders Place Their Bets

In related news, CEO Gary D. Fields sold 20,641 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the completion of the sale, the chief executive officer now owns 64,295 shares of the company’s stock, valued at $5,542,871.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other AAON news, CEO Gary D. Fields sold 20,641 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total value of $1,779,460.61. Following the completion of the sale, the chief executive officer now directly owns 64,295 shares in the company, valued at approximately $5,542,871.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Norman H. Asbjornson sold 11,022 shares of AAON stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total transaction of $963,433.02. Following the completion of the sale, the director now directly owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.55% of the company’s stock.

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.