Federated Hermes Inc. Makes New Investment in AAON, Inc. (NASDAQ:AAON)

Federated Hermes Inc. acquired a new position in shares of AAON, Inc. (NASDAQ:AAON) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,530 shares of the construction company’s stock, valued at approximately $657,000.

Several other institutional investors have also recently bought and sold shares of AAON. Janney Montgomery Scott LLC raised its holdings in AAON by 121.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,645 shares of the construction company’s stock worth $639,000 after buying an additional 4,743 shares during the last quarter. Norges Bank bought a new stake in shares of AAON in the 4th quarter worth $43,832,000. Advisory Services Network LLC bought a new stake in shares of AAON in the 4th quarter worth $234,000. TD Asset Management Inc bought a new stake in shares of AAON in the 4th quarter worth $1,748,000. Finally, TFO Wealth Partners LLC bought a new stake in shares of AAON in the 4th quarter worth $27,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insider Buying and Selling at AAON

In other AAON news, VP Stephen E. Wakefield sold 29,946 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $90.13, for a total transaction of $2,699,032.98. Following the sale, the vice president now directly owns 15,670 shares of the company’s stock, valued at $1,412,337.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Gary D. Fields sold 20,641 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $5,542,871.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Stephen E. Wakefield sold 29,946 shares of the stock in a transaction dated 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 directly owns 15,670 shares in the company, valued at $1,412,337.10. The disclosure for this sale can be found here. Insiders have sold a total of 61,609 shares of company stock valued at $5,441,927 over the last three months. 18.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

AAON Price Performance

AAON opened at $104.05 on Monday. The firm has a market cap of $8.55 billion, a P/E ratio of 48.40 and a beta of 0.80. The firm has a 50-day moving average of $90.43 and a 200 day moving average of $85.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.99. AAON, Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $104.73.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $313.57 million during 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 for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, research analysts expect that AAON, Inc. will post 2.29 EPS for the current year.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, September 6th. AAON’s dividend payout ratio (DPR) 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.