Stephens Investment Management Group LLC Has $61.25 Million Position in AAON, Inc. (NASDAQ:AAON)

Stephens Investment Management Group LLC grew its position in shares of AAON, Inc. (NASDAQ:AAON) by 29.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 567,995 shares of the construction company’s stock after acquiring an additional 129,598 shares during the quarter. Stephens Investment Management Group LLC owned 0.69% of AAON worth $61,253,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vaughan Nelson Investment Management L.P. grew its position in AAON by 106.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company’s stock valued at $95,010,000 after purchasing an additional 561,195 shares in the last quarter. Blair William & Co. IL bought a new position in shares of AAON in the 2nd quarter valued at about $44,934,000. Millennium Management LLC increased its position in shares of AAON by 212.3% in the second quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock valued at $57,278,000 after acquiring an additional 446,344 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in AAON by 552.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 350,082 shares of the construction company’s stock worth $30,541,000 after acquiring an additional 296,423 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in AAON during the second quarter worth about $15,700,000. 70.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AAON. StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Robert W. Baird upgraded shares of AAON from a “neutral” rating to an “outperform” rating and increased their price target for the company from $114.00 to $130.00 in a research note on Monday. Sidoti downgraded shares of 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 report on Tuesday, October 22nd. Finally, Baird R W raised shares of AAON from a “hold” rating to a “strong-buy” rating in a report on Monday. Two 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’s stock. According to data from MarketBeat, AAON has a consensus rating of “Moderate Buy” and a consensus target price of $114.33.

Insider Activity

In other news, Director Norman H. Asbjornson sold 11,022 shares of AAON stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total transaction of $963,433.02. Following the completion of the sale, the director now owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Norman H. Asbjornson sold 11,022 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total transaction of $963,433.02. Following the transaction, the director now directly owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary D. Fields sold 20,641 shares of AAON stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the completion of the sale, the chief executive officer now owns 64,295 shares of the company’s stock, valued at approximately $5,542,871.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.55% of the stock is owned by company insiders.

AAON Trading Down 0.8 %

Shares of AAON stock opened at $114.22 on Friday. AAON, Inc. has a 1 year low of $54.19 and a 1 year high of $122.97. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 51.45 and a beta of 0.80. The business has a fifty day simple moving average of $102.58 and a two-hundred day simple moving average of $90.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 1.70.

AAON (NASDAQ:AAON) last announced its earnings results on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. The business had revenue of $313.57 million during the quarter, compared to the consensus estimate of $283.77 million. AAON had a net margin of 15.60% and a return on equity of 26.02%. AAON’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. Research analysts forecast that AAON, Inc. will post 2.28 EPS for the current year.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, September 6th. AAON’s dividend payout ratio is presently 14.41%.

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.