Mechanics Bank Trust Department Has $325,000 Position in AAON, Inc. (NASDAQ:AAON)

Mechanics Bank Trust Department lessened its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 22.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,764 shares of the construction company’s stock after selling 780 shares during the period. Mechanics Bank Trust Department’s holdings in AAON were worth $325,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC lifted its holdings in shares of AAON by 39.1% during the third quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company’s stock worth $31,121,000 after buying an additional 81,111 shares during the last quarter. Wolverine Trading LLC bought a new position in AAON during the third quarter worth $471,000. Caldwell Investment Management Ltd. acquired a new position in AAON during the 4th quarter valued at $1,099,000. Amalgamated Bank boosted its holdings in AAON by 65.2% in the 2nd quarter. Amalgamated Bank now owns 35,367 shares of the construction company’s stock valued at $3,085,000 after purchasing an additional 13,964 shares during the period. Finally, Geneva Capital Management LLC grew its position in AAON by 1.5% in the 3rd quarter. Geneva Capital Management LLC now owns 1,698,207 shares of the construction company’s stock worth $183,135,000 after purchasing an additional 24,384 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

AAON Trading Down 1.0 %

Shares of AAON opened at $130.18 on Tuesday. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock has a market cap of $10.58 billion, a PE ratio of 57.35 and a beta of 0.87. AAON, Inc. has a 1 year low of $69.54 and a 1 year high of $144.07. The stock has a 50 day simple moving average of $128.81 and a 200-day simple moving average of $109.34.

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

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 29th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. AAON’s dividend payout ratio (DPR) is presently 14.10%.

Analyst Ratings Changes

AAON has been the subject of several research reports. Baird R W upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. DA Davidson lifted their price objective on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Robert W. Baird upped their target price on AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Sidoti downgraded shares of AAON from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Two equities 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 data from MarketBeat, AAON currently has a consensus rating of “Moderate Buy” and an average price target of $133.00.

Insiders Place Their Bets

In related news, CEO Gary D. Fields sold 35,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were 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 $8,488,868.85. This represents a 35.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Casey Kidwell sold 1,421 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $135.14, for a total transaction of $192,033.94. Following the completion of the sale, the vice president now owns 4,953 shares of the company’s stock, valued at $669,348.42. The trade was a 22.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,329 shares of company stock valued at $7,663,726. 18.55% of the stock is currently owned by insiders.

AAON Company 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.