Ferguson Wellman Capital Management Inc. Decreases Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Ferguson Wellman Capital Management Inc. lessened its stake in AAON, Inc. (NASDAQ:AAON) by 64.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,100 shares of the construction company’s stock after selling 86,177 shares during the period. Ferguson Wellman Capital Management Inc. owned 0.06% of AAON worth $5,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAON. Vanguard Group Inc. boosted its position in shares of AAON by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company’s stock worth $641,267,000 after purchasing an additional 61,544 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in AAON by 99.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,258 shares of the construction company’s stock worth $1,520,000 after acquiring an additional 8,613 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of AAON by 79.8% during the first quarter. Janus Henderson Group PLC now owns 58,898 shares of the construction company’s stock worth $5,186,000 after acquiring an additional 26,141 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of AAON by 71.1% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 527,875 shares of the construction company’s stock valued at $46,505,000 after acquiring an additional 219,435 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of AAON by 18.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 592,804 shares of the construction company’s stock valued at $52,226,000 after purchasing an additional 94,026 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of AAON from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Baird R W raised AAON to a “hold” rating in a research report on Wednesday, July 24th. DA Davidson restated a “buy” rating and issued a $102.00 target price on shares of AAON in a research note on Wednesday, June 26th. Finally, StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $102.00.

AAON Stock Performance

NASDAQ AAON traded down $1.77 on Friday, hitting $109.34. 524,547 shares of the company’s stock traded hands, compared to its average volume of 617,544. The firm has a market capitalization of $8.99 billion, a PE ratio of 50.86 and a beta of 0.80. AAON, Inc. has a 1-year low of $52.24 and a 1-year high of $113.86. The firm’s 50-day moving average price is $98.91 and its two-hundred day moving average price is $88.65. The company has a current ratio of 2.99, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $313.57 million for the quarter, compared to analyst estimates of $283.77 million. AAON had a net margin of 15.60% and a return on equity of 26.02%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 earnings per share. As a group, analysts expect that AAON, Inc. will post 2.28 EPS for the current year.

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Friday, September 6th. AAON’s payout ratio is presently 14.88%.

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.