Retirement Systems of Alabama Sells 2,535 Shares of AAON, Inc. (NASDAQ:AAON)

Retirement Systems of Alabama lessened its holdings in AAON, Inc. (NASDAQ:AAON) by 3.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 81,682 shares of the construction company’s stock after selling 2,535 shares during the period. Retirement Systems of Alabama’s holdings in AAON were worth $8,809,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in AAON by 258.8% during the 3rd quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company’s stock valued at $37,014,000 after buying an additional 238,308 shares during the period. Tidal Investments LLC lifted its position in shares of AAON by 5.7% during the third quarter. Tidal Investments LLC now owns 13,534 shares of the construction company’s stock worth $1,460,000 after purchasing an additional 732 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in AAON in the 3rd quarter valued at about $43,000. Westside Investment Management Inc. bought a new position in AAON in the 3rd quarter worth about $36,000. Finally, Geode Capital Management LLC increased its holdings in AAON by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,234,036 shares of the construction company’s stock worth $133,110,000 after purchasing an additional 6,338 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

AAON has been the topic of several research reports. Sidoti lowered AAON from a “buy” rating to a “neutral” rating and raised their price target for the company from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Robert W. Baird lifted their price objective on shares of AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a report on Friday, November 8th. DA Davidson boosted their price objective on shares of AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Baird R W upgraded 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. Based on data from MarketBeat.com, AAON presently has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Insider Transactions at AAON

In related news, VP Casey Kidwell sold 4,796 shares of AAON stock in a transaction dated Tuesday, November 12th. The stock was 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. The trade was a 49.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary D. Fields sold 35,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $132.03, for a total transaction of $4,621,050.00. Following the completion of the transaction, the chief executive officer now owns 64,295 shares in the company, valued at approximately $8,488,868.85. This trade represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,329 shares of company stock worth $7,663,726. Company insiders own 18.55% of the company’s stock.

AAON Stock Down 4.4 %

Shares of AAON stock opened at $128.67 on Wednesday. The stock’s fifty day moving average price is $124.36 and its 200 day moving average price is $101.52. AAON, Inc. has a 1-year low of $68.38 and a 1-year high of $144.07. The company has a market cap of $10.46 billion, a price-to-earnings ratio of 56.68 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 issued 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 for the quarter, compared to analyst estimates of $315.80 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, research analysts expect that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 29th will be issued 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 0.25%. AAON’s dividend payout ratio is currently 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.