Trust Co. of Oklahoma Cuts Stock Position in AAON, Inc. (NASDAQ:AAON)

Trust Co. of Oklahoma decreased its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,470 shares of the construction company’s stock after selling 84 shares during the period. Trust Co. of Oklahoma’s holdings in AAON were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wasatch Advisors LP increased its position in shares of AAON by 39.1% during the third quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock worth $201,310,000 after purchasing an additional 525,132 shares in the last quarter. Millennium Management LLC grew its holdings in shares of AAON by 212.3% during the second quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock worth $57,278,000 after buying an additional 446,344 shares in the last quarter. Franklin Resources Inc. raised its position in shares of AAON by 258.8% in the third quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company’s stock valued at $37,014,000 after buying an additional 238,308 shares during the last quarter. Fred Alger Management LLC purchased a new position in shares of AAON in the second quarter worth about $15,700,000. Finally, Squarepoint Ops LLC acquired a new position in AAON during the second quarter worth about $15,687,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Trading Up 3.6 %

AAON opened at $136.95 on Thursday. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. AAON, Inc. has a 52 week low of $69.54 and a 52 week high of $144.07. The business’s 50 day moving average is $128.74 and its two-hundred day moving average is $109.85. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 60.33 and a beta of 0.87.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $327.25 million for the quarter, compared to analyst estimates of $315.80 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. AAON’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. On average, research analysts predict that AAON, Inc. will post 2.26 EPS for the current year.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 29th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, November 29th. AAON’s payout ratio is 14.10%.

Insider Transactions at AAON

In related news, VP Stephen E. Wakefield sold 5,750 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $139.86, for a total value of $804,195.00. Following the completion of the transaction, the vice president now directly owns 9,920 shares of the company’s stock, valued at $1,387,411.20. This trade represents a 36.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Casey Kidwell sold 4,796 shares of AAON stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $136.38, for a total value of $654,078.48. Following the transaction, the vice president now directly owns 4,953 shares of the company’s stock, valued at approximately $675,490.14. This represents a 49.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,329 shares of company stock worth $7,663,726 over the last ninety days. 18.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on AAON. DA Davidson increased their price objective on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. Sidoti lowered shares of AAON from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $102.00 to $111.00 in a report on Tuesday, October 22nd. Finally, Robert W. Baird increased their target price on shares of AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.00.

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.