Franklin Resources Inc. Purchases 48,755 Shares of AAON, Inc. $AAON

Franklin Resources Inc. grew its position in shares of AAON, Inc. (NASDAQ:AAON) by 11.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 477,950 shares of the construction company’s stock after buying an additional 48,755 shares during the quarter. Franklin Resources Inc. owned 0.59% of AAON worth $35,249,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in AAON in the 2nd quarter valued at approximately $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of AAON in the second quarter worth $53,000. UMB Bank n.a. raised its stake in shares of AAON by 32.9% in the second quarter. UMB Bank n.a. now owns 783 shares of the construction company’s stock worth $58,000 after purchasing an additional 194 shares during the last quarter. CWM LLC lifted its holdings in shares of AAON by 25.7% during the first quarter. CWM LLC now owns 938 shares of the construction company’s stock valued at $73,000 after purchasing an additional 192 shares in the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new stake in shares of AAON during the second quarter valued at $91,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

AAON Stock Down 1.0%

AAON stock opened at $93.20 on Thursday. The business’s 50-day moving average price is $97.48 and its 200-day moving average price is $88.46. The stock has a market cap of $7.61 billion, a P/E ratio of 63.40 and a beta of 1.05. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $141.06.

AAON (NASDAQ:AAON) last released its earnings results on Tuesday, June 10th. The construction company reported $0.37 earnings per share (EPS) for the quarter. AAON had a net margin of 9.70% and a return on equity of 15.45%. The company had revenue of $322.05 million during the quarter. On average, equities research analysts forecast that AAON, Inc. will post 2.26 EPS for the current year.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, November 26th. AAON’s dividend payout ratio (DPR) is presently 33.06%.

Insiders Place Their Bets

In other news, Director Gary D. Fields sold 26,746 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $105.21, for a total value of $2,813,946.66. Following the transaction, the director directly owned 26,340 shares in the company, valued at $2,771,231.40. The trade was a 50.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rebecca Thompson sold 9,350 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $81.09, for a total value of $758,191.50. Following the completion of the transaction, the chief financial officer directly owned 24,396 shares of the company’s stock, valued at approximately $1,978,271.64. This trade represents a 27.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 39,649 shares of company stock worth $3,945,701. 18.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AAON shares. Oppenheimer reiterated an “outperform” rating and issued a $115.00 price objective on shares of AAON in a report on Friday, November 7th. Wall Street Zen cut shares of AAON from a “hold” rating to a “strong sell” rating in a report on Sunday, August 17th. DA Davidson dropped their target price on shares of AAON from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Robert W. Baird decreased their target price on shares of AAON from $102.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Finally, Zacks Research raised AAON from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $104.60.

AAON Company 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.