Westside Investment Management Inc. Invests $36,000 in AAON, Inc. (NASDAQ:AAON)

Westside Investment Management Inc. bought a new stake in AAON, Inc. (NASDAQ:AAON) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 330 shares of the construction company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in shares of AAON by 65.2% in the second quarter. Amalgamated Bank now owns 35,367 shares of the construction company’s stock valued at $3,085,000 after purchasing an additional 13,964 shares during the period. Geneva Capital Management LLC increased its stake in shares of AAON by 1.5% in the third quarter. Geneva Capital Management LLC now owns 1,698,207 shares of the construction company’s stock worth $183,135,000 after acquiring an additional 24,384 shares during the period. Swedbank AB purchased a new position in shares of AAON during the second quarter worth $14,569,000. Raymond James & Associates lifted its position in AAON by 3.4% during the third 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 during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in AAON by 122.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,476 shares of the construction company’s stock valued at $1,777,000 after purchasing an additional 9,063 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Activity at AAON

In other news, VP Casey Kidwell sold 4,796 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total transaction of $654,078.48. Following the completion of the sale, the vice president now owns 4,953 shares of the company’s stock, valued at $675,490.14. This represents a 49.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stephen E. Wakefield sold 5,750 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $139.86, for a total transaction of $804,195.00. Following the completion of the transaction, the vice president now directly owns 9,920 shares in the company, valued at approximately $1,387,411.20. This represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,967 shares of company stock valued at $6,961,357. 18.55% of the stock is owned by corporate insiders.

AAON Stock Down 0.8 %

Shares of AAON opened at $131.27 on Friday. The firm has a market cap of $10.67 billion, a P/E ratio of 57.83 and a beta of 0.83. AAON, Inc. has a 12 month low of $64.53 and a 12 month high of $144.07. The stock’s 50 day moving average is $123.35 and its two-hundred day moving average is $100.39. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07.

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

AAON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 29th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. AAON’s dividend payout ratio (DPR) is presently 14.10%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Sidoti lowered 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. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Robert W. Baird upped their price objective on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Finally, DA Davidson increased their price target on shares of AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.00.

AAON Profile

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.