HM Payson & Co. Decreases Stake in AAON, Inc. (NASDAQ:AAON)

HM Payson & Co. lessened its stake in AAON, Inc. (NASDAQ:AAON) by 14.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,700 shares of the construction company’s stock after selling 800 shares during the quarter. HM Payson & Co.’s holdings in AAON were worth $507,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. NBC Securities Inc. boosted its stake in shares of AAON by 4.5% in the 3rd quarter. NBC Securities Inc. now owns 3,601 shares of the construction company’s stock valued at $388,000 after buying an additional 156 shares during the period. Ascent Wealth Partners LLC lifted its stake in AAON by 1.1% during the second quarter. Ascent Wealth Partners LLC now owns 16,692 shares of the construction company’s stock worth $1,456,000 after purchasing an additional 178 shares during the last quarter. Blue Trust Inc. lifted its stake in AAON by 202.0% during the third quarter. Blue Trust Inc. now owns 296 shares of the construction company’s stock worth $32,000 after purchasing an additional 198 shares during the last quarter. New York State Teachers Retirement System lifted its stake in AAON by 1.0% during the third quarter. New York State Teachers Retirement System now owns 19,312 shares of the construction company’s stock worth $2,083,000 after purchasing an additional 200 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in AAON by 63.5% during the second quarter. Signaturefd LLC now owns 613 shares of the construction company’s stock worth $53,000 after purchasing an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Activity

In other news, Director Norman H. Asbjornson sold 11,022 shares of the business’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 transaction, the director now owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Gary D. Fields sold 20,641 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the transaction, the chief executive officer now owns 64,295 shares of the company’s stock, valued at $5,542,871.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Norman H. Asbjornson sold 11,022 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 5,135 shares in the company, valued at $448,850.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AAON. Robert W. Baird upgraded AAON from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $114.00 to $130.00 in a research note on Monday, October 28th. Sidoti cut AAON from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Baird R W upgraded AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AAON has an average rating of “Moderate Buy” and an average price target of $114.33.

AAON Price Performance

Shares of NASDAQ AAON opened at $113.47 on Friday. 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, Inc. has a twelve month low of $56.17 and a twelve month high of $122.97. The stock has a 50 day moving average of $103.01 and a two-hundred day moving average of $90.17. The stock has a market cap of $9.19 billion, a P/E ratio of 51.11 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. The company had revenue of $313.57 million during the quarter, compared to analysts’ expectations of $283.77 million. AAON had a return on equity of 26.02% and a net margin of 15.60%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share. On average, research analysts forecast that AAON, Inc. will post 2.28 earnings per share for the current year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Friday, September 6th. AAON’s payout ratio is currently 14.41%.

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.