Orion Portfolio Solutions LLC Purchases New Holdings in AAON, Inc. (NASDAQ:AAON)

Orion Portfolio Solutions LLC purchased a new position in shares of AAON, Inc. (NASDAQ:AAON) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,974 shares of the construction company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wolverine Trading LLC acquired a new position in AAON during the third quarter worth $471,000. Amalgamated Bank grew its position in shares of 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 acquiring an additional 13,964 shares during the period. Geneva Capital Management LLC grew its position in shares of AAON by 1.5% in the 3rd quarter. Geneva Capital Management LLC now owns 1,698,207 shares of the construction company’s stock valued at $183,135,000 after acquiring an additional 24,384 shares during the period. Raymond James & Associates increased its stake in shares of AAON by 3.4% during the 3rd quarter. Raymond James & Associates now owns 142,930 shares of the construction company’s stock worth $15,414,000 after purchasing an additional 4,709 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of AAON by 122.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 16,476 shares of the construction company’s stock valued at $1,777,000 after purchasing an additional 9,063 shares during the period. Institutional investors own 70.81% of the company’s stock.

Insider Activity

In related news, VP Stephen E. Wakefield sold 5,750 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $139.86, for a total value of $804,195.00. Following the transaction, the vice president now owns 9,920 shares in the company, valued at approximately $1,387,411.20. This trade represents a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary D. Fields sold 35,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $132.03, for a total transaction of $4,621,050.00. Following the sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $8,488,868.85. This represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,329 shares of company stock worth $7,663,726. Corporate insiders own 18.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AAON shares. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Robert W. Baird boosted their target price on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. DA Davidson upped their price objective on shares of AAON from $102.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Sidoti cut shares of AAON from a “buy” rating to a “neutral” rating and raised their target price for the stock from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Two 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.com, AAON presently has an average rating of “Moderate Buy” and a consensus target price of $133.00.

AAON Stock Performance

AAON opened at $124.13 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The business has a fifty day simple moving average of $125.55 and a 200 day simple moving average of $102.54. AAON, Inc. has a 1 year low of $68.38 and a 1 year high of $144.07. The company has a market capitalization of $10.09 billion, a PE ratio of 54.68 and a beta of 0.83.

AAON (NASDAQ:AAON) last announced its earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. AAON had a net margin of 15.78% and a return on equity of 24.98%. The company had revenue of $327.25 million during the quarter, compared to analysts’ expectations of $315.80 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. AAON’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts expect that AAON, Inc. will post 2.26 EPS for the current year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders 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 dividend yield of 0.26%. AAON’s payout ratio is 14.10%.

AAON 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.