AAON, Inc. (NASDAQ:AAON) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its position in AAON, Inc. (NASDAQ:AAON) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,396 shares of the construction company’s stock after selling 572 shares during the period. Fred Alger Management LLC’s holdings in AAON were worth $19,346,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AAON. Janus Henderson Group PLC lifted its position in AAON by 79.8% during the first quarter. Janus Henderson Group PLC now owns 58,898 shares of the construction company’s stock valued at $5,186,000 after buying an additional 26,141 shares in the last quarter. Amalgamated Bank raised its stake in shares of AAON by 65.2% in the 2nd quarter. Amalgamated Bank now owns 35,367 shares of the construction company’s stock valued at $3,085,000 after acquiring an additional 13,964 shares during the period. Geneva Capital Management LLC lifted its holdings in shares of AAON by 1.5% during the 3rd quarter. Geneva Capital Management LLC now owns 1,698,207 shares of the construction company’s stock valued at $183,135,000 after acquiring an additional 24,384 shares in the last quarter. Swedbank AB purchased a new stake in AAON during the 2nd quarter worth $14,569,000. Finally, Raymond James & Associates increased its holdings in AAON by 3.4% in the 3rd quarter. Raymond James & Associates now owns 142,930 shares of the construction company’s stock valued at $15,414,000 after purchasing an additional 4,709 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Analyst Upgrades and Downgrades

AAON has been the topic of a number of recent research reports. Robert W. Baird boosted their price objective on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. DA Davidson increased their price objective on shares of AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Sidoti lowered shares of AAON from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Finally, Baird R W upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.00.

Insider Transactions at AAON

In other AAON news, VP Casey Kidwell sold 4,796 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $136.38, for a total transaction of $654,078.48. Following the sale, the vice president now owns 4,953 shares in the company, valued at $675,490.14. This represents a 49.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary D. Fields sold 35,000 shares of AAON stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $132.03, for a total value of $4,621,050.00. Following the completion of the transaction, the chief executive officer now owns 64,295 shares of the company’s stock, valued at approximately $8,488,868.85. The trade was a 35.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,967 shares of company stock valued at $6,271,357. Insiders own 18.55% of the company’s stock.

AAON Price Performance

Shares of NASDAQ AAON opened at $136.34 on Friday. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. AAON, Inc. has a fifty-two week low of $61.09 and a fifty-two week high of $144.07. The business has a 50 day moving average price of $118.73 and a two-hundred day moving average price of $96.82. The firm has a market cap of $11.08 billion, a PE ratio of 60.06 and a beta of 0.79.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $327.25 million during the quarter, compared to the consensus estimate of $315.80 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. Sell-side analysts expect that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. AAON’s dividend payout ratio (DPR) is presently 14.10%.

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.