Principal Financial Group Inc. Increases Stock Holdings in AAON, Inc. $AAON

Principal Financial Group Inc. boosted its holdings in AAON, Inc. (NASDAQ:AAON) by 5.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 152,249 shares of the construction company’s stock after buying an additional 7,254 shares during the quarter. Principal Financial Group Inc.’s holdings in AAON were worth $12,599,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in AAON by 96.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock valued at $25,000 after buying an additional 164 shares during the period. Summit Securities Group LLC acquired a new stake in shares of AAON in the fourth quarter worth approximately $45,000. Danske Bank A S acquired a new stake in shares of AAON in the third quarter worth approximately $47,000. Huntington National Bank grew its holdings in AAON by 21.1% in the fourth quarter. Huntington National Bank now owns 689 shares of the construction company’s stock valued at $53,000 after purchasing an additional 120 shares during the period. Finally, UMB Bank n.a. grew its holdings in AAON by 46.8% in the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock valued at $67,000 after purchasing an additional 282 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AAON

In other AAON news, EVP Gordon Douglas Wichman sold 3,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.39, for a total transaction of $421,170.00. Following the transaction, the executive vice president directly owned 10,997 shares in the company, valued at $1,543,868.83. This represents a 21.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew Joseph Tobolski sold 8,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $135.37, for a total transaction of $1,082,960.00. Following the transaction, the chief executive officer directly owned 114,371 shares of the company’s stock, valued at approximately $15,482,402.27. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 118,980 shares of company stock valued at $16,361,330 over the last ninety days. 18.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Zacks Research downgraded shares of AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. KeyCorp initiated coverage on shares of AAON in a research note on Thursday. They set a “sector weight” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of AAON in a report on Tuesday, July 14th. Finally, Oppenheimer restated an “outperform” rating on shares of AAON in a research note on Friday, May 8th. Four investment 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.com, AAON presently has a consensus rating of “Moderate Buy” and an average price target of $112.00.

AAON Stock Performance

Shares of AAON stock opened at $102.67 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46. The company has a market cap of $8.41 billion, a PE ratio of 71.80, a P/E/G ratio of 3.00 and a beta of 1.41. The company’s fifty day simple moving average is $125.19 and its 200-day simple moving average is $105.31. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $150.46.

AAON (NASDAQ:AAON) last issued its earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.17. AAON had a return on equity of 13.67% and a net margin of 7.30%.The company had revenue of $496.94 million during the quarter, compared to the consensus estimate of $381.08 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The company’s revenue was up 54.3% compared to the same quarter last year. As a group, equities research analysts anticipate that AAON, Inc. will post 2.25 EPS for the current year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, June 5th. AAON’s payout ratio is 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.