Equitable Trust Co. Purchases New Position in AAON, Inc. (NASDAQ:AAON)

Equitable Trust Co. acquired a new position in shares of AAON, Inc. (NASDAQ:AAON) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,204 shares of the construction company’s stock, valued at approximately $238,000.

Several other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in AAON by 99.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,258 shares of the construction company’s stock valued at $1,520,000 after purchasing an additional 8,613 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of AAON in the first quarter valued at about $429,000. SG Americas Securities LLC acquired a new position in AAON during the 1st quarter worth about $212,000. Sei Investments Co. grew its holdings in AAON by 2.1% during the 1st quarter. Sei Investments Co. now owns 146,519 shares of the construction company’s stock worth $12,908,000 after acquiring an additional 2,985 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in AAON by 3.1% in the 1st quarter. Russell Investments Group Ltd. now owns 35,819 shares of the construction company’s stock valued at $3,156,000 after acquiring an additional 1,090 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Analysts Set New Price Targets

AAON has been the subject of several research reports. Sidoti cut AAON from a “buy” rating to a “neutral” rating and lifted their target price for the company from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Baird R W upgraded AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. StockNews.com upgraded shares of AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. DA Davidson raised their price objective on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Robert W. Baird lifted their target price on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a report on Friday. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $133.00.

AAON Trading Up 16.1 %

Shares of NASDAQ:AAON opened at $138.24 on Monday. The company has a quick ratio of 1.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 62.27 and a beta of 0.79. The company’s fifty day simple moving average is $106.07 and its 200 day simple moving average is $91.58. AAON, Inc. has a 12 month low of $57.19 and a 12 month high of $139.63.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $327.25 million for the quarter, compared to analyst estimates of $315.80 million. AAON had a net margin of 15.60% and a return on equity of 26.02%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, research analysts forecast that AAON, Inc. will post 2.28 EPS for the current fiscal year.

AAON Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, September 6th. AAON’s payout ratio is 14.41%.

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.