Gabelli Funds LLC Cuts Holdings in AAON, Inc. $AAON

Gabelli Funds LLC decreased its stake in shares of AAON, Inc. (NASDAQ:AAON) by 54.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the construction company’s stock after selling 6,000 shares during the quarter. Gabelli Funds LLC’s holdings in AAON were worth $381,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AAON. Millennium Management LLC increased its stake in shares of AAON by 429.3% during the first quarter. Millennium Management LLC now owns 81,145 shares of the construction company’s stock worth $6,340,000 after buying an additional 65,813 shares during the period. NewEdge Advisors LLC increased its stake in shares of AAON by 1.8% during the first quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company’s stock worth $1,271,000 after buying an additional 294 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of AAON by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company’s stock worth $33,669,000 after buying an additional 73,644 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of AAON by 5.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company’s stock worth $18,204,000 after buying an additional 12,489 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of 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 buying an additional 164 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

AAON has been the topic of a number of recent research reports. Oppenheimer restated an “outperform” rating on shares of AAON in a research note on Friday, May 8th. Zacks Research upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. William Blair restated an “outperform” rating on shares of AAON in a research note on Monday, March 2nd. DA Davidson restated a “buy” rating and set a $120.00 target price on shares of AAON in a research note on Tuesday, February 3rd. Finally, Wall Street Zen upgraded shares of AAON from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $107.75.

Insider Activity at AAON

In other AAON news, Director Gary D. Fields sold 31,271 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $134.07, for a total value of $4,192,502.97. Following the transaction, the director directly owned 34,252 shares in the company, valued at $4,592,165.64. This represents a 47.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Casey Kidwell sold 5,225 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $90.00, for a total transaction of $470,250.00. Following the completion of the transaction, the insider owned 12,662 shares in the company, valued at $1,139,580. This represents a 29.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 108,295 shares of company stock valued at $13,323,408. Company insiders own 18.09% of the company’s stock.

AAON Stock Performance

Shares of AAON stock opened at $134.60 on Friday. The firm has a market capitalization of $11.03 billion, a P/E ratio of 94.13, a P/E/G ratio of 3.77 and a beta of 1.24. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $149.00. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $99.08 and its two-hundred day moving average is $93.49.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.31 by $0.17. The company had revenue of $496.94 million for the quarter, compared to analyst estimates of $381.08 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. The firm’s revenue was up 54.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. Research analysts forecast that AAON, Inc. will post 2.23 EPS for the current fiscal year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, June 5th. AAON’s dividend payout ratio is currently 27.97%.

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.