Wasatch Advisors LP Has $296.66 Million Holdings in AAON, Inc. $AAON

Wasatch Advisors LP lifted its holdings in AAON, Inc. (NASDAQ:AAON) by 3.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,338,517 shares of the construction company’s stock after purchasing an additional 70,399 shares during the quarter. AAON accounts for approximately 1.9% of Wasatch Advisors LP’s investment portfolio, making the stock its 8th largest position. Wasatch Advisors LP owned 2.85% of AAON worth $296,664,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in AAON by 512.5% during the third quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company’s stock valued at $442,896,000 after purchasing an additional 3,966,088 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of AAON by 8,956.4% in the 4th quarter. Franklin Resources Inc. now owns 1,222,706 shares of the construction company’s stock worth $93,231,000 after buying an additional 1,209,205 shares in the last quarter. Norges Bank bought a new stake in shares of AAON in the 4th quarter worth about $41,584,000. Impax Asset Management Group plc increased its holdings in shares of AAON by 53.2% in the 4th quarter. Impax Asset Management Group plc now owns 1,403,648 shares of the construction company’s stock worth $107,028,000 after buying an additional 487,601 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of AAON during the 3rd quarter valued at about $41,333,000. Institutional investors own 70.81% of the company’s stock.

Insiders Place Their Bets

In other AAON news, Director Gary D. Fields sold 21,173 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.34, for a total transaction of $2,971,418.82. Following the completion of the transaction, the director owned 34,252 shares in the company, valued at $4,806,925.68. The trade was a 38.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Casey Kidwell sold 3,153 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $138.30, for a total value of $436,059.90. Following the transaction, the insider directly owned 13,463 shares in the company, valued at approximately $1,861,932.90. This represents a 18.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 50,556 shares of company stock worth $7,099,115 over the last three months. 18.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on AAON. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a report on Tuesday, July 14th. Robert W. Baird reduced their price objective on AAON from $150.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday. Oppenheimer decreased their price objective on AAON from $145.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday. KeyCorp started coverage on AAON in a research note on Thursday, July 23rd. They issued a “sector weight” rating for the company. Finally, Zacks Research cut AAON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.67.

AAON News Summary

Here are the key news stories impacting AAON this week:

• Positive Sentiment: Record quarterly performance: Second-quarter revenue surged 101.2% year over year to $627.0 million, while operating income rose 192.1% to $68.9 million. Adjusted EPS of $0.69 substantially exceeded the $0.51 consensus estimate. AAON Reports Record Second Quarter 2026 Results
• Positive Sentiment: Strong demand and backlog: Backlog reached approximately $2.0 billion, nearly double the prior-year level, supported by demand for AAON and BASX equipment, including data-center cooling systems. First-half operating cash flow also improved to $55 million from a $31 million use of cash last year. AAON Earnings and Data-Center Cooling Demand
• Positive Sentiment: Higher revenue outlook: AAON raised its 2026 outlook to 55%–60% sales growth, with projected revenue of roughly $2.2 billion to $2.3 billion, above the approximately $2.1 billion consensus estimate. Oppenheimer and Robert W. Baird maintained “outperform” ratings, with price targets of $125 and $135, respectively. AAON Posts Record Q2 Results
• Neutral Sentiment: Reported short-interest data showed zero shares and a zero-day days-to-cover ratio, indicating no meaningful short-position signal; the entry appears to contain a data error because it describes an increase from zero shares.
• Negative Sentiment: Margin guidance pressured sentiment: Full-year gross-margin guidance of approximately 25%–26% was below the prior outlook near 27%–28%. Investors remain concerned that capacity expansion, outsourcing, and ramp-related costs could limit the conversion of rapid sales growth into profits. AAON Reports Strong Q2 Results but Lowers Margin Guidance
• Negative Sentiment: Oppenheimer lowered its price target from $145 to $125, while Baird reduced its target from $150 to $135. In addition, reported insider activity showed 17 sales and no purchases over the past six months, potentially adding to investor caution.

AAON Trading Down 3.9%

Shares of AAON opened at $85.78 on Wednesday. The company’s fifty day simple moving average is $114.25 and its 200-day simple moving average is $105.84. The company has a market cap of $7.03 billion, a P/E ratio of 44.68, a P/E/G ratio of 2.49 and a beta of 1.45. The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46. AAON, Inc. has a twelve month low of $72.09 and a twelve month high of $150.46.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.18. The firm had revenue of $626.98 million during the quarter, compared to analysts’ expectations of $508.82 million. AAON had a net margin of 8.24% and a return on equity of 17.86%. The firm’s revenue for the quarter was up 101.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS. As a group, analysts expect that AAON, Inc. will post 2.24 EPS for the current year.

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.