AAON, Inc. $AAON Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp increased its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 4,498.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 211,316 shares of the construction company’s stock after acquiring an additional 206,721 shares during the period. Fifth Third Bancorp’s holdings in AAON were worth $17,486,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in AAON by 44.3% in the 4th quarter. Wellington Management Group LLP now owns 6,839,277 shares of the construction company’s stock worth $521,495,000 after acquiring an additional 2,099,385 shares in the last quarter. Wasatch Advisors LP raised its position in AAON by 23.8% during the first quarter. Wasatch Advisors LP now owns 2,268,118 shares of the construction company’s stock worth $187,687,000 after acquiring an additional 436,704 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in AAON by 5.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,776,013 shares of the construction company’s stock valued at $135,421,000 after purchasing an additional 84,693 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in AAON by 53.2% during the fourth quarter. Impax Asset Management Group plc now owns 1,403,648 shares of the construction company’s stock valued at $107,028,000 after purchasing an additional 487,601 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of AAON by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 1,381,303 shares of the construction company’s stock valued at $105,343,000 after purchasing an additional 20,588 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Buying and Selling at AAON

In other news, CAO Rebecca Thompson sold 21,914 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $100.21, for a total transaction of $2,196,001.94. Following the transaction, the chief accounting officer directly owned 27,681 shares in the company, valued at $2,773,913.01. The trade was a 44.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Joseph Tobolski sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total value of $1,082,960.00. Following the completion of the sale, the chief executive officer owned 114,371 shares of the company’s stock, valued at $15,482,402.27. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 150,473 shares of company stock valued at $19,516,213. Company insiders own 18.09% of the company’s stock.

AAON Price Performance

Shares of NASDAQ AAON opened at $112.19 on Tuesday. The firm has a 50-day simple moving average of $128.58 and a 200-day simple moving average of $103.48. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 78.45, a price-to-earnings-growth ratio of 3.19 and a beta of 1.41. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $150.46.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.17. The firm had revenue of $496.94 million for the quarter, compared to the consensus estimate of $381.08 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. The company’s revenue for the quarter was up 54.3% on a year-over-year basis. During the same period last year, the firm posted $0.37 earnings per share. On average, equities analysts predict that AAON, Inc. will post 2.23 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a $0.10 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. AAON’s dividend payout ratio is presently 27.97%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Oppenheimer reissued an “outperform” rating on shares of AAON in a research note on Friday, May 8th. Zacks Research lowered shares of AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.00.

AAON Profile

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.