Geode Capital Management LLC Increases Holdings in AAON, Inc. $AAON

Geode Capital Management LLC increased its stake in AAON, Inc. (NASDAQ:AAON) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,381,303 shares of the construction company’s stock after purchasing an additional 20,588 shares during the quarter. Geode Capital Management LLC’s holdings in AAON were worth $105,343,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of AAON by 96.5% in the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock valued at $25,000 after purchasing an additional 164 shares in the last quarter. CBIZ Investment Advisory Services LLC purchased a new position in shares of AAON in the third quarter valued at $26,000. Jones Financial Companies Lllp grew its position in shares of AAON by 59.5% in the third quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company’s stock valued at $34,000 after purchasing an additional 141 shares in the last quarter. Danske Bank A S purchased a new position in shares of AAON in the third quarter valued at $47,000. Finally, Huntington National Bank grew its position in shares of AAON by 27.0% in the third quarter. Huntington National Bank now owns 569 shares of the construction company’s stock valued at $53,000 after purchasing an additional 121 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Casey Kidwell sold 5,225 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $90.00, for a total transaction of $470,250.00. Following the transaction, the insider directly owned 12,662 shares of the company’s stock, valued at approximately $1,139,580. This trade represents a 29.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Joseph Tobolski sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total value of $1,082,960.00. Following the transaction, the chief executive officer directly owned 114,371 shares in the company, valued at $15,482,402.27. This trade represents a 6.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 155,698 shares of company stock valued at $19,986,463 over the last three months. 18.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AAON shares. Wall Street Zen upgraded AAON from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Zacks Research upgraded AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Oppenheimer restated an “outperform” rating on shares of AAON in a research report on Friday, May 8th. Finally, William Blair restated an “outperform” rating on shares of AAON in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $107.75.

AAON Trading Down 7.7%

NASDAQ AAON opened at $132.62 on Friday. The stock’s 50-day simple moving average is $110.72 and its two-hundred day simple moving average is $96.42. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $150.46. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 92.74, a PEG ratio of 3.71 and a beta of 1.39.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.17. AAON had a return on equity of 13.67% and a net margin of 7.30%.The business had revenue of $496.94 million for the quarter, compared to the consensus estimate of $381.08 million. During the same quarter last year, the business posted $0.37 earnings per share. The company’s revenue for the quarter was up 54.3% on a year-over-year basis. Research analysts forecast that AAON, Inc. will post 2.23 EPS for the current fiscal year.

AAON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, June 5th. AAON’s dividend payout ratio (DPR) is 27.97%.

About AAON

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.