Strategic Wealth Partners Ltd. Trims Holdings in AAON, Inc. (NASDAQ:AAON)

Strategic Wealth Partners Ltd. lowered its stake in shares of AAON, Inc. (NASDAQ:AAON) by 83.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,594 shares of the construction company’s stock after selling 61,937 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in AAON were worth $1,109,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AAON. Vanguard Group Inc. increased its position in AAON by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company’s stock worth $641,267,000 after purchasing an additional 61,544 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in AAON by 0.8% during the fourth quarter. Conestoga Capital Advisors LLC now owns 3,354,242 shares of the construction company’s stock worth $247,778,000 after purchasing an additional 25,178 shares during the last quarter. Geneva Capital Management LLC lifted its stake in AAON by 0.8% during the fourth quarter. Geneva Capital Management LLC now owns 1,702,641 shares of the construction company’s stock worth $125,774,000 after purchasing an additional 13,864 shares during the last quarter. Wasatch Advisors LP increased its position in AAON by 5.0% in the fourth quarter. Wasatch Advisors LP now owns 1,024,860 shares of the construction company’s stock worth $75,706,000 after buying an additional 49,007 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in AAON by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 837,781 shares of the construction company’s stock worth $61,887,000 after buying an additional 17,306 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AAON shares. Robert W. Baird raised their price target on AAON from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Friday. DA Davidson reissued a “buy” rating and set a $102.00 price target on shares of AAON in a report on Wednesday, June 26th. StockNews.com lowered AAON from a “hold” rating to a “sell” rating in a report on Monday, June 17th. William Blair began coverage on AAON in a report on Monday, April 29th. They set an “outperform” rating on the stock. Finally, Baird R W raised AAON to a “hold” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $102.00.

AAON Stock Performance

Shares of NASDAQ:AAON traded down $1.13 during midday trading on Friday, reaching $85.78. The company had a trading volume of 1,032,997 shares, compared to its average volume of 709,974. AAON, Inc. has a 1-year low of $52.24 and a 1-year high of $96.34. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 40.01 and a beta of 0.80. The company has a fifty day simple moving average of $82.28 and a two-hundred day simple moving average of $81.69.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The business had revenue of $313.57 million during the quarter, compared to analyst estimates of $283.77 million. AAON had a return on equity of 25.84% and a net margin of 15.44%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 EPS. Analysts expect that AAON, Inc. will post 2.24 EPS for the current year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Friday, June 7th. AAON’s dividend payout ratio is currently 14.91%.

Insider Activity

In related news, CEO Gary D. Fields sold 28,200 shares of AAON stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $76.13, for a total transaction of $2,146,866.00. Following the sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $4,894,778.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Rebecca Thompson sold 13,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $77.00, for a total value of $1,039,500.00. Following the completion of the transaction, the chief financial officer now owns 17,297 shares in the company, valued at approximately $1,331,869. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary D. Fields sold 28,200 shares of AAON stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $76.13, for a total transaction of $2,146,866.00. Following the sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at approximately $4,894,778.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,646 shares of company stock valued at $5,885,399. 18.55% of the stock is owned by insiders.

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.