AAON, Inc. $AAON Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. lowered its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 2.5% in the second quarter, HoldingsChannel.com reports. The fund owned 5,782 shares of the construction company’s stock after selling 147 shares during the quarter. Institute for Wealth Management LLC.’s holdings in AAON were worth $426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its position in AAON by 26.3% during the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company’s stock worth $56,000 after acquiring an additional 149 shares during the last quarter. Cresset Asset Management LLC grew its holdings in shares of AAON by 1.3% during the first quarter. Cresset Asset Management LLC now owns 12,151 shares of the construction company’s stock worth $949,000 after buying an additional 157 shares in the last quarter. CWM LLC grew its holdings in shares of AAON by 25.7% during the first quarter. CWM LLC now owns 938 shares of the construction company’s stock worth $73,000 after buying an additional 192 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of AAON by 32.9% during the second quarter. UMB Bank n.a. now owns 783 shares of the construction company’s stock worth $58,000 after buying an additional 194 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of AAON by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the construction company’s stock worth $1,477,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AAON shares. Sidoti upgraded shares of AAON from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a report on Monday, June 16th. DA Davidson lowered their target price on shares of AAON from $125.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Wall Street Zen downgraded shares of AAON from a “hold” rating to a “strong sell” rating in a report on Sunday, August 17th. Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of AAON in a report on Tuesday. Finally, Robert W. Baird lowered their target price on shares of AAON from $102.00 to $98.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to MarketBeat, AAON currently has an average rating of “Buy” and an average price target of $102.60.

AAON Trading Up 2.7%

NASDAQ AAON opened at $95.92 on Thursday. The company’s fifty day simple moving average is $84.04 and its 200-day simple moving average is $84.34. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $144.07. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. The stock has a market cap of $7.82 billion, a P/E ratio of 65.25 and a beta of 1.05.

AAON (NASDAQ:AAON) last posted its earnings results on Monday, August 11th. The construction company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.09). AAON had a return on equity of 15.45% and a net margin of 9.70%.The firm had revenue of $311.57 million for the quarter, compared to analyst estimates of $326.15 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts predict that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, September 5th. AAON’s payout ratio is presently 27.21%.

Insiders Place Their Bets

In other news, insider Christopher Douglas Eason sold 12,003 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the transaction, the insider directly owned 5,301 shares of the company’s stock, valued at approximately $451,009.08. The trade was a 69.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Rebecca Thompson sold 9,350 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $81.09, for a total transaction of $758,191.50. Following the completion of the sale, the chief financial officer directly owned 24,396 shares in the company, valued at $1,978,271.64. This represents a 27.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.70% 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.