Conway Capital Management Inc. Acquires 101 Shares of AAON, Inc. (NASDAQ:AAON)

Conway Capital Management Inc. boosted its holdings in AAON, Inc. (NASDAQ:AAON) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,602 shares of the construction company’s stock after purchasing an additional 101 shares during the period. Conway Capital Management Inc.’s holdings in AAON were worth $306,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AAON. Lord Abbett & CO. LLC lifted its stake in shares of AAON by 39.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company’s stock valued at $31,121,000 after acquiring an additional 81,111 shares during the last quarter. Wolverine Trading LLC purchased a new position in AAON in the 3rd quarter worth approximately $471,000. Caldwell Investment Management Ltd. bought a new stake in AAON in the fourth quarter valued at approximately $1,099,000. Geneva Capital Management LLC boosted its stake in shares of AAON by 1.5% during the third quarter. Geneva Capital Management LLC now owns 1,698,207 shares of the construction company’s stock valued at $183,135,000 after purchasing an additional 24,384 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of AAON by 3.4% in the third quarter. Raymond James & Associates now owns 142,930 shares of the construction company’s stock worth $15,414,000 after purchasing an additional 4,709 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AAON shares. Sidoti lowered shares of AAON from a “buy” rating to a “neutral” rating and upped their price target for the company from $102.00 to $111.00 in a report on Tuesday, October 22nd. DA Davidson upped 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. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Robert W. Baird boosted their price target on AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a report on Friday, November 8th. 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 company. According to MarketBeat.com, AAON has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Insiders Place Their Bets

In other AAON news, VP Casey Kidwell sold 1,421 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $135.14, for a total value of $192,033.94. Following the sale, the vice president now directly owns 4,953 shares of the company’s stock, valued at approximately $669,348.42. The trade was a 22.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Stephen E. Wakefield sold 5,750 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $139.86, for a total value of $804,195.00. Following the transaction, the vice president now owns 9,920 shares of the company’s stock, valued at $1,387,411.20. The trade was a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,329 shares of company stock worth $7,663,726. 18.55% of the stock is currently owned by company insiders.

AAON Stock Down 1.6 %

Shares of AAON stock opened at $134.76 on Friday. The company’s fifty day simple moving average is $128.74 and its two-hundred day simple moving average is $109.85. AAON, Inc. has a 12-month low of $69.54 and a 12-month high of $144.07. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The company has a market cap of $10.95 billion, a P/E ratio of 59.37 and a beta of 0.87.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Research analysts anticipate that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

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

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.