Spyglass Capital Management LLC Cuts Holdings in AAON, Inc. $AAON

Spyglass Capital Management LLC reduced its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 28.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 858,840 shares of the construction company’s stock after selling 340,081 shares during the period. AAON accounts for approximately 5.0% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 6th biggest holding. Spyglass Capital Management LLC’s holdings in AAON were worth $71,069,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AAON. SummitTX Capital L.P. lifted its stake in shares of AAON by 1.7% in the 1st quarter. SummitTX Capital L.P. now owns 4,622 shares of the construction company’s stock valued at $382,000 after purchasing an additional 76 shares during the period. Toronto Dominion Bank boosted its position in shares of AAON by 1.7% during the 4th quarter. Toronto Dominion Bank now owns 5,889 shares of the construction company’s stock valued at $448,000 after purchasing an additional 99 shares in the last quarter. Huntington National Bank grew its stake in AAON by 21.1% during the fourth quarter. Huntington National Bank now owns 689 shares of the construction company’s stock worth $53,000 after purchasing an additional 120 shares during the period. EverSource Wealth Advisors LLC grew its stake in AAON by 96.5% during 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 period. Finally, Hantz Financial Services Inc. increased its holdings in AAON by 20.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,052 shares of the construction company’s stock worth $80,000 after purchasing an additional 181 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Matthew Joseph Tobolski sold 8,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Casey Kidwell sold 3,153 shares of AAON stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $138.30, for a total transaction of $436,059.90. Following the completion of the sale, the insider directly owned 13,463 shares of the company’s stock, valued at approximately $1,861,932.90. The trade was a 18.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 118,580 shares of company stock valued at $16,321,222. Corporate insiders own 18.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AAON shares. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th. KeyCorp initiated coverage on shares of AAON in a research report on Thursday, July 23rd. They set a “sector weight” rating for the company. Oppenheimer reiterated an “outperform” rating on shares of AAON in a research note on Friday, May 8th. Finally, Zacks Research downgraded shares of AAON from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.00.

AAON Stock Performance

Shares of AAON opened at $93.74 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.75. The stock has a 50-day moving average of $123.80 and a 200-day moving average of $105.72. The company has a market cap of $7.68 billion, a PE ratio of 65.55, a P/E/G ratio of 2.82 and a beta of 1.41. AAON, Inc. has a one year low of $62.00 and a one year high of $150.46.

AAON (NASDAQ:AAON) last issued its earnings results on Thursday, May 7th. The construction company reported $0.48 EPS 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 during the quarter, compared to analyst estimates of $381.08 million. During the same period in the previous year, the company posted $0.37 EPS. The firm’s revenue was up 54.3% compared to the same quarter last year. On average, equities research analysts predict that AAON, Inc. will post 2.24 EPS for the current fiscal year.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. AAON’s payout ratio is currently 27.97%.

AAON Profile

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.