Swedbank AB Acquires 10,000 Shares of AAON, Inc. (NASDAQ:AAON)

Swedbank AB lifted its stake in AAON, Inc. (NASDAQ:AAON) by 6.0% during the third quarter, HoldingsChannel.com reports. The firm owned 177,000 shares of the construction company’s stock after purchasing an additional 10,000 shares during the quarter. Swedbank AB’s holdings in AAON were worth $19,088,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. raised 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 valued at $95,010,000 after buying an additional 561,195 shares during the last quarter. Blair William & Co. IL purchased a new position in shares of AAON in the 2nd quarter worth about $44,934,000. Millennium Management LLC boosted its stake in AAON by 212.3% in the 2nd quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock worth $57,278,000 after purchasing an additional 446,344 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in AAON by 552.4% during 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 during the last quarter. Finally, Fred Alger Management LLC purchased a new stake in 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.

Insider Activity

In related news, VP Casey Kidwell sold 4,796 shares of the firm’s 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 trade represents a 49.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary D. Fields sold 35,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $132.03, for a total value of $4,621,050.00. Following the sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $8,488,868.85. This represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,217 shares of company stock valued at $5,467,162 in the last quarter. 18.55% of the stock is currently owned by insiders.

AAON Stock Up 0.1 %

Shares of AAON stock opened at $137.59 on Tuesday. 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 twelve month low of $61.09 and a twelve month high of $144.07. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 61.14 and a beta of 0.79. The company’s 50 day moving average is $114.92 and its 200 day moving average is $94.98.

AAON (NASDAQ:AAON) last released its quarterly 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. AAON had a return on equity of 24.98% and a net margin of 15.78%. The firm had revenue of $327.25 million for the quarter, compared to analysts’ expectations of $315.80 million. During the same period in the prior year, the firm earned $0.64 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. AAON’s dividend payout ratio is currently 14.10%.

Analyst Upgrades and Downgrades

AAON has been the topic of several analyst reports. Robert W. Baird upped 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. Sidoti cut AAON from a “buy” rating to a “neutral” rating and upped their price objective for the company from $102.00 to $111.00 in a research report on Tuesday, October 22nd. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Baird R W upgraded AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, DA Davidson increased their price objective on AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.