Archer Investment Corp Lowers Stock Position in AAON, Inc. (NASDAQ:AAON)

Archer Investment Corp cut its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 31.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,075 shares of the construction company’s stock after selling 500 shares during the quarter. Archer Investment Corp’s holdings in AAON were worth $127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. lifted its holdings in shares of AAON by 521.6% in the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock worth $27,000 after buying an additional 193 shares in the last quarter. Blue Trust Inc. lifted its holdings in AAON by 202.0% in the 3rd quarter. Blue Trust Inc. now owns 296 shares of the construction company’s stock worth $32,000 after buying an additional 198 shares during the period. Westside Investment Management Inc. bought a new position in shares of AAON during the third quarter valued at approximately $36,000. ORG Wealth Partners LLC bought a new stake in shares of AAON during the 3rd quarter valued at about $37,000. Finally, UMB Bank n.a. raised its position in shares of AAON by 67.5% in the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after acquiring an additional 131 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AAON. Robert W. Baird raised their target price on shares of AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. DA Davidson increased their target price on shares of AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Baird R W upgraded AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Sidoti downgraded shares of AAON from a “buy” rating to a “neutral” rating and increased their target price for the company from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Two investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

AAON Trading Down 0.7 %

Shares of AAON stock opened at $114.05 on Friday. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 50.24 and a beta of 0.87. The stock has a 50 day simple moving average of $125.30 and a 200-day simple moving average of $111.90. 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, Inc. has a 1-year low of $70.28 and a 1-year high of $144.07.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. AAON had a return on equity of 24.98% and a net margin of 15.78%. The firm had revenue of $327.25 million during the quarter, compared to analysts’ expectations of $315.80 million. During the same quarter last year, the firm earned $0.64 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts expect that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 29th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Friday, November 29th. AAON’s payout ratio is 14.10%.

Insider Transactions at AAON

In other AAON news, VP Stephen E. Wakefield sold 5,362 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $130.99, for a total value of $702,368.38. Following the sale, the vice president now directly owns 4,558 shares in the company, valued at $597,052.42. This trade represents a 54.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Casey Kidwell sold 4,796 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $136.38, for a total transaction of $654,078.48. Following the sale, the vice president now directly owns 4,953 shares in the company, valued at approximately $675,490.14. The trade was a 49.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,329 shares of company stock worth $7,663,726 over the last ninety days. Company insiders own 18.55% of the company’s stock.

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.