Cim LLC Has $667,000 Position in AAON, Inc. (NASDAQ:AAON)

Cim LLC reduced its stake in AAON, Inc. (NASDAQ:AAON) by 13.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,671 shares of the construction company’s stock after selling 873 shares during the period. Cim LLC’s holdings in AAON were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AAON. Barclays PLC increased its holdings in shares of AAON by 182.2% in the third quarter. Barclays PLC now owns 84,472 shares of the construction company’s stock valued at $9,111,000 after purchasing an additional 54,535 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of AAON by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock valued at $351,615,000 after acquiring an additional 150,207 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of AAON by 2.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,992 shares of the construction company’s stock valued at $1,058,000 after acquiring an additional 213 shares during the period. Avior Wealth Management LLC boosted its position in shares of AAON by 5,040.4% in the fourth quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company’s stock valued at $284,000 after acquiring an additional 2,369 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after acquiring an additional 84 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAON. Wall Street Zen cut shares of AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Robert W. Baird reduced their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Friday, February 28th. Finally, DA Davidson reduced their target price on shares of AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

AAON Trading Down 0.8%

AAON opened at $99.10 on Tuesday. AAON, Inc. has a twelve month low of $68.98 and a twelve month high of $144.07. The company has a 50-day simple moving average of $88.52 and a 200 day simple moving average of $106.98. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 43.66 and a beta of 1.06.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.13. AAON had a net margin of 15.78% and a return on equity of 24.98%. The business had revenue of $322.05 million during the quarter, compared to analysts’ expectations of $289.16 million. During the same quarter in the prior year, the business posted $0.46 earnings per share. AAON’s revenue was up 22.9% compared to the same quarter last year. Analysts predict that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, June 6th. This represents a $0.40 annualized dividend and a yield of 0.40%. AAON’s dividend payout ratio is 21.05%.

AAON declared that its board has approved a share repurchase program on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Gary D. Fields sold 37,189 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the completion of the sale, the chief executive officer now owns 63,714 shares of the company’s stock, valued at $6,256,714.80. This represents a 36.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gordon Douglas Wichman sold 21,302 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the sale, the director now directly owns 8,754 shares of the company’s stock, valued at $914,617.92. This represents a 70.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,823 shares of company stock valued at $7,122,451 over the last quarter. 18.70% of the stock is owned by company insiders.

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.