Zacks Investment Management Buys Shares of 6,425 AAON, Inc. (NASDAQ:AAON)

Zacks Investment Management bought a new stake in shares of AAON, Inc. (NASDAQ:AAON) in the third quarter, HoldingsChannel reports. The institutional investor bought 6,425 shares of the construction company’s stock, valued at approximately $693,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its position in AAON by 202.0% during the 3rd quarter. Blue Trust Inc. now owns 296 shares of the construction company’s stock valued at $32,000 after purchasing an additional 198 shares in the last quarter. ORG Partners LLC bought a new stake in AAON during the 2nd quarter valued at $29,000. ORG Wealth Partners LLC bought a new stake in AAON during the 3rd quarter valued at $37,000. Crewe Advisors LLC bought a new stake in AAON during the 2nd quarter valued at $35,000. Finally, Signaturefd LLC raised its position in AAON by 63.5% during the 2nd quarter. Signaturefd LLC now owns 613 shares of the construction company’s stock valued at $53,000 after purchasing an additional 238 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

AAON Trading Up 0.1 %

Shares of NASDAQ:AAON opened at $129.17 on Wednesday. The business’s 50-day moving average is $122.37 and its 200 day moving average is $99.94. AAON, Inc. has a 1 year low of $64.53 and a 1 year high of $144.07. The firm has a market capitalization of $10.50 billion, a P/E ratio of 56.90 and a beta of 0.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79.

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

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Friday, November 29th. AAON’s dividend payout ratio is presently 14.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their target price on AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. DA Davidson boosted their price target on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Sidoti lowered AAON from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Finally, StockNews.com raised AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Insider Activity

In other news, CEO Gary D. Fields sold 35,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at approximately $8,488,868.85. This represents a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stephen E. Wakefield sold 5,750 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $139.86, for a total value of $804,195.00. Following the completion of the transaction, the vice president now directly owns 9,920 shares in the company, valued at $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. Over the last three months, insiders have sold 51,967 shares of company stock valued at $6,961,357. Company insiders own 18.55% of the company’s stock.

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.