AlphaCore Capital LLC Acquires New Stake in AAON, Inc. (NASDAQ:AAON)

AlphaCore Capital LLC bought a new position in shares of AAON, Inc. (NASDAQ:AAON) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 2,437 shares of the construction company’s stock, valued at approximately $263,000.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in AAON in the 1st quarter valued at $212,000. Russell Investments Group Ltd. raised its holdings in AAON by 3.1% during the first quarter. Russell Investments Group Ltd. now owns 35,819 shares of the construction company’s stock worth $3,156,000 after acquiring an additional 1,090 shares in the last quarter. Vanguard Group Inc. boosted its position in AAON by 0.9% during the first quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company’s stock valued at $641,267,000 after purchasing an additional 61,544 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in AAON in the first quarter valued at approximately $518,000. Finally, PEAK6 Investments LLC increased its position in shares of AAON by 31.6% during the 1st quarter. PEAK6 Investments LLC now owns 8,790 shares of the construction company’s stock worth $774,000 after purchasing an additional 2,109 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Gary D. Fields sold 35,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $132.03, for a total transaction of $4,621,050.00. Following the completion of the sale, the chief executive officer now owns 64,295 shares of the company’s stock, valued at $8,488,868.85. This represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Casey Kidwell sold 4,796 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total transaction of $654,078.48. Following the completion of the transaction, the vice president now owns 4,953 shares of the company’s stock, valued at $675,490.14. The trade was a 49.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,217 shares of company stock worth $5,467,162 in the last 90 days. Company insiders own 18.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on AAON shares. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. DA Davidson upped their price target on shares of AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Robert W. Baird lifted their price objective on shares of AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Sidoti cut shares of AAON from a “buy” rating to a “neutral” rating and upped their target price for the company from $102.00 to $111.00 in a report on Tuesday, October 22nd. Finally, Baird R W upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. 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. Based on data from MarketBeat, AAON has a consensus rating of “Moderate Buy” and a consensus target price of $133.00.

AAON Price Performance

Shares of AAON opened at $135.76 on Friday. The firm has a market capitalization of $11.03 billion, a PE ratio of 59.81 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The company’s 50-day moving average is $113.21 and its 200-day moving average is $94.02. AAON, Inc. has a fifty-two week low of $61.09 and a fifty-two week high of $144.07.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. AAON had a net margin of 15.78% and a return on equity of 24.98%. The firm had revenue of $327.25 million during the quarter, compared to the consensus estimate of $315.80 million. During the same period last year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts forecast that AAON, Inc. will post 2.26 EPS for the current year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.24%. AAON’s dividend payout ratio (DPR) is presently 14.10%.

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.