Allied Investment Advisors LLC Boosts Stake in AAON, Inc. $AAON

Allied Investment Advisors LLC lifted its stake in AAON, Inc. (NASDAQ:AAON) by 110.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 242,984 shares of the construction company’s stock after purchasing an additional 127,573 shares during the period. AAON accounts for approximately 3.1% of Allied Investment Advisors LLC’s holdings, making the stock its 6th largest holding. Allied Investment Advisors LLC owned about 0.30% of AAON worth $17,920,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AAON. Blair William & Co. IL boosted its position in shares of AAON by 86.2% in the 1st quarter. Blair William & Co. IL now owns 2,177,688 shares of the construction company’s stock worth $170,143,000 after purchasing an additional 1,007,906 shares during the last quarter. Mawer Investment Management Ltd. acquired a new stake in AAON during the 1st quarter worth $44,219,000. Brown Advisory Inc. acquired a new stake in AAON during the 1st quarter worth $41,180,000. Impax Asset Management Group plc acquired a new stake in AAON during the 1st quarter worth $36,223,000. Finally, Federated Hermes Inc. raised its stake in AAON by 5,973.3% during the 1st quarter. Federated Hermes Inc. now owns 390,632 shares of the construction company’s stock worth $30,520,000 after buying an additional 384,200 shares during the period. 70.81% of the stock is currently owned by institutional investors.

AAON Price Performance

Shares of NASDAQ AAON opened at $106.24 on Friday. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 72.27 and a beta of 1.05. The business has a 50-day moving average of $90.76 and a 200-day moving average of $86.91. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.10 and a quick ratio of 1.99. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $144.07.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Tuesday, June 10th. The construction company reported $0.37 earnings per share for the quarter. AAON had a return on equity of 15.45% and a net margin of 9.70%.The company had revenue of $322.05 million during the quarter. As a group, sell-side analysts predict that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, September 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. AAON’s dividend payout ratio (DPR) is presently 27.21%.

Insider Transactions at AAON

In other news, insider Christopher Douglas Eason sold 12,003 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the sale, the insider owned 5,301 shares in the company, valued at $451,009.08. The trade was a 69.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Rebecca Thompson sold 9,350 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $81.09, for a total value of $758,191.50. Following the sale, the chief financial officer owned 24,396 shares of the company’s stock, valued at approximately $1,978,271.64. This represents a 27.71% decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

AAON has been the topic of several research analyst reports. Oppenheimer raised their price objective on AAON from $105.00 to $112.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Robert W. Baird dropped their price target on AAON from $102.00 to $98.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. DA Davidson dropped their price target on AAON from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a research note on Friday. Finally, Zacks Research raised AAON from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AAON currently has an average rating of “Moderate Buy” and a consensus price target of $104.00.

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.