Caldwell Investment Management Ltd. Makes New $1.10 Million Investment in AAON, Inc. (NASDAQ:AAON)

Caldwell Investment Management Ltd. purchased a new position in AAON, Inc. (NASDAQ:AAON) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,200 shares of the construction company’s stock, valued at approximately $1,099,000.

Several other hedge funds have also bought and sold shares of AAON. Wasatch Advisors LP lifted its stake in AAON by 39.1% in the 3rd 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. Blair William & Co. IL purchased a new stake in shares of AAON during the 2nd quarter valued at about $44,934,000. Millennium Management LLC raised its position in shares of AAON by 212.3% during the 2nd quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock valued at $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% during the 3rd 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 in the last quarter. Finally, Fred Alger Management LLC purchased a new stake in shares of AAON during the 2nd quarter valued at about $15,700,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

AAON Price Performance

NASDAQ AAON opened at $131.25 on Wednesday. The company has a market cap of $10.67 billion, a PE ratio of 57.82 and a beta of 0.87. AAON, Inc. has a 52-week low of $68.38 and a 52-week high of $144.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The firm’s 50 day moving average price is $128.74 and its 200-day moving average price is $108.07.

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

AAON Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 29th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. AAON’s payout ratio is currently 14.10%.

Insider Transactions at AAON

In other news, VP Casey Kidwell sold 4,796 shares of AAON stock in a transaction 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 sale, the vice president now directly owns 4,953 shares in the company, valued at approximately $675,490.14. The trade was a 49.19 % 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, CEO Gary D. Fields sold 35,000 shares of AAON stock in a transaction on Friday, November 15th. The stock was sold at an average price of $132.03, for a total transaction of $4,621,050.00. Following the sale, the chief executive officer now owns 64,295 shares of the company’s stock, valued at $8,488,868.85. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,329 shares of company stock worth $7,663,726. Company insiders own 18.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AAON shares. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Sidoti lowered shares of AAON from a “buy” rating to a “neutral” rating and raised their target price for the stock from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Baird R W raised shares of AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. Robert W. Baird increased their price objective on shares of AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, DA Davidson increased their price objective on shares of AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $133.00.

AAON Company 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.