Orion Portfolio Solutions LLC Invests $213,000 in AAON, Inc. (NASDAQ:AAON)

Orion Portfolio Solutions LLC purchased a new stake in AAON, Inc. (NASDAQ:AAON) in the third quarter, Holdings Channel reports. The institutional investor purchased 1,974 shares of the construction company’s stock, valued at approximately $213,000.

Several other hedge funds also recently modified their holdings of AAON. Wealth Enhancement Advisory Services LLC bought a new stake in AAON during the 2nd quarter worth approximately $281,000. Raymond James & Associates lifted its holdings in shares of AAON by 79.9% during the second quarter. Raymond James & Associates now owns 138,221 shares of the construction company’s stock worth $12,058,000 after purchasing an additional 61,378 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of AAON in the second quarter worth $188,000. Retirement Systems of Alabama acquired a new stake in AAON in the second quarter valued at $7,347,000. Finally, Bank of New York Mellon Corp raised its position in AAON by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 958,225 shares of the construction company’s stock worth $83,596,000 after purchasing an additional 157,699 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AAON shares. Robert W. Baird upped their price target on AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. 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 report on Tuesday, October 22nd. Baird R W upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. DA Davidson upped their price objective on shares of AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AAON presently has a consensus rating of “Moderate Buy” and an average price target of $133.00.

AAON Trading Up 0.2 %

Shares of AAON stock opened at $124.13 on Friday. AAON, Inc. has a fifty-two week low of $68.38 and a fifty-two week high of $144.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The stock has a 50 day simple moving average of $125.55 and a two-hundred day simple moving average of $102.54. The company has a market cap of $10.09 billion, a P/E ratio of 54.68 and a beta of 0.83.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. The company had revenue of $327.25 million during the quarter, compared to analyst estimates of $315.80 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. AAON’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. Research analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 29th were given a dividend of $0.08 per share. The ex-dividend date was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. AAON’s dividend payout ratio (DPR) is presently 14.10%.

Insider Activity

In related news, VP Casey Kidwell sold 4,796 shares of AAON stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total value of $654,078.48. Following the completion of the sale, the vice president now owns 4,953 shares of the company’s stock, valued at approximately $675,490.14. This trade represents a 49.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gary D. Fields sold 35,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $132.03, for a total transaction of $4,621,050.00. Following the transaction, the chief executive officer now owns 64,295 shares in the company, valued at approximately $8,488,868.85. The trade was a 35.25 % 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 in the last three months. 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.