Truist Financial Corp Makes New Investment in AAON, Inc. $AAON

Truist Financial Corp purchased a new stake in shares of AAON, Inc. (NASDAQ:AAON) during the third quarter, HoldingsChannel reports. The institutional investor purchased 5,432 shares of the construction company’s stock, valued at approximately $508,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Verdence Capital Advisors LLC raised its holdings in AAON by 3.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,226 shares of the construction company’s stock worth $301,000 after acquiring an additional 115 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake 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 worth $25,000 after purchasing an additional 164 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of AAON by 14.7% in the second quarter. Smartleaf Asset Management LLC now owns 1,649 shares of the construction company’s stock worth $121,000 after purchasing an additional 211 shares during the last quarter. Cim LLC lifted its holdings in shares of AAON by 4.2% during the second quarter. Cim LLC now owns 5,674 shares of the construction company’s stock valued at $418,000 after purchasing an additional 227 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of AAON by 0.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 51,299 shares of the construction company’s stock valued at $3,783,000 after buying an additional 240 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

AAON Stock Down 1.1%

Shares of AAON stock opened at $101.61 on Friday. The company has a current ratio of 3.04, a quick ratio of 2.03 and a debt-to-equity ratio of 0.42. AAON, Inc. has a 12 month low of $62.00 and a 12 month high of $116.04. The stock has a market cap of $8.29 billion, a P/E ratio of 83.98 and a beta of 1.11. The company has a 50 day simple moving average of $85.75 and a two-hundred day simple moving average of $89.09.

Analysts Set New Price Targets

A number of brokerages have weighed in on AAON. Oppenheimer reissued an “outperform” rating and issued a $115.00 target price on shares of AAON in a research report on Friday, November 7th. DA Davidson reissued a “buy” rating and set a $120.00 price objective on shares of AAON in a report on Tuesday, February 3rd. Weiss Ratings restated a “hold (c)” rating on shares of AAON in a research report on Wednesday, January 21st. Wall Street Zen cut shares of AAON from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Finally, William Blair reiterated an “outperform” rating on shares of AAON in a research note on Tuesday, December 30th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.60.

Insider Activity at AAON

In related news, EVP Stephen E. Wakefield acquired 4,141 shares of AAON stock in a transaction dated Friday, December 12th. The stock was purchased at an average cost of $77.59 per share, for a total transaction of $321,300.19. Following the purchase, the executive vice president directly owned 15,212 shares of the company’s stock, valued at approximately $1,180,299.08. This trade represents a 37.40% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 18.70% of the stock is owned by company insiders.

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.