AAON, Inc. (NASDAQ:AAON) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in AAON, Inc. (NASDAQ:AAON) by 38.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 157,272 shares of the construction company’s stock after selling 97,527 shares during the quarter. Principal Financial Group Inc.’s holdings in AAON were worth $16,960,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Malaga Cove Capital LLC acquired a new position in AAON during the third quarter worth $207,000. Van ECK Associates Corp lifted its stake in AAON by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 49,111 shares of the construction company’s stock worth $5,249,000 after acquiring an additional 14,033 shares in the last quarter. Pembroke Management LTD lifted its stake in AAON by 62.5% during the 3rd quarter. Pembroke Management LTD now owns 166,361 shares of the construction company’s stock worth $17,940,000 after acquiring an additional 64,014 shares in the last quarter. Arcadia Investment Management Corp MI boosted its holdings in AAON by 89.1% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 13,531 shares of the construction company’s stock valued at $1,459,000 after acquiring an additional 6,374 shares during the period. Finally, Conestoga Capital Advisors LLC grew its position in AAON by 1.9% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,125,186 shares of the construction company’s stock valued at $229,180,000 after acquiring an additional 39,059 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Transactions at AAON

In other news, VP Casey Kidwell sold 4,796 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total transaction of $654,078.48. Following the completion of the sale, the vice president now owns 4,953 shares in the company, valued at approximately $675,490.14. The trade was a 49.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 18.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AAON shares. Baird R W raised shares of AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. Sidoti lowered shares of AAON from a “buy” rating to a “neutral” rating and increased their target price for the stock from $102.00 to $111.00 in a report on Tuesday, October 22nd. Robert W. Baird boosted their price target on shares of AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, DA Davidson boosted their target price on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AAON presently has an average rating of “Moderate Buy” and a consensus target price of $133.00.

AAON Stock Down 1.1 %

Shares of AAON stock opened at $133.18 on Friday. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. AAON, Inc. has a 52-week low of $61.09 and a 52-week high of $144.07. The company has a market capitalization of $10.82 billion, a P/E ratio of 58.67 and a beta of 0.79. The company has a 50 day moving average of $108.85 and a 200 day moving average of $92.56.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. 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 15.78% and a return on equity of 24.98%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. As a group, research analysts forecast that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date is Friday, November 29th. AAON’s dividend payout ratio (DPR) is 14.10%.

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.