Fifth Third Wealth Advisors LLC Acquires New Position in AAON, Inc. (NASDAQ:AAON)

Fifth Third Wealth Advisors LLC bought a new position in shares of AAON, Inc. (NASDAQ:AAON) during the second quarter, HoldingsChannel.com reports. The firm bought 2,151 shares of the construction company’s stock, valued at approximately $188,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of AAON during the fourth quarter worth approximately $43,832,000. Vaughan Nelson Investment Management L.P. lifted its holdings in AAON by 106.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company’s stock worth $95,010,000 after buying an additional 561,195 shares during the last quarter. Norden Group LLC increased its holdings in shares of AAON by 2,604.7% in the 1st quarter. Norden Group LLC now owns 305,550 shares of the construction company’s stock valued at $26,920,000 after acquiring an additional 294,253 shares during the last quarter. Swedbank AB acquired a new stake in shares of AAON during the 2nd quarter worth about $14,569,000. Finally, Global Alpha Capital Management Ltd. purchased a new stake in AAON during the fourth quarter worth approximately $11,598,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AAON. Baird R W raised AAON to a “hold” rating in a report on Wednesday, July 24th. William Blair began coverage on AAON in a report on Monday, April 29th. They issued an “outperform” rating for the company. DA Davidson reaffirmed a “buy” rating and issued a $102.00 price target on shares of AAON in a report on Wednesday, June 26th. Robert W. Baird upped their price target on AAON from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, StockNews.com raised AAON from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $102.00.

AAON Trading Up 1.7 %

Shares of NASDAQ AAON opened at $94.55 on Friday. AAON, Inc. has a twelve month low of $52.24 and a twelve month high of $96.34. The stock has a 50 day moving average of $86.76 and a two-hundred day moving average of $83.64. The stock has a market cap of $7.77 billion, a P/E ratio of 43.98 and a beta of 0.80.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. AAON had a return on equity of 26.08% and a net margin of 15.60%. The company had revenue of $313.57 million during the quarter, compared to analysts’ expectations of $283.77 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts predict that AAON, Inc. will post 2.24 earnings per share for the current year.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, September 6th. AAON’s dividend payout ratio is currently 14.88%.

Insider Buying and Selling at AAON

In other news, Director Norman H. Asbjornson sold 11,022 shares of the company’s 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 completion of the sale, the director now owns 5,135 shares in the company, valued at $448,850.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Stephen E. Wakefield sold 29,946 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $90.13, for a total transaction of $2,699,032.98. Following the completion of the sale, the vice president now owns 15,670 shares in the company, valued at $1,412,337.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Norman H. Asbjornson sold 11,022 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total value of $963,433.02. Following the sale, the director now owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,609 shares of company stock worth $5,441,927. 18.55% of the stock is owned by insiders.

AAON 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.