Connor Clark & Lunn Investment Management Ltd. Sells 5,436 Shares of AAON, Inc. (NASDAQ:AAON)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in AAON, Inc. (NASDAQ:AAON) by 9.9% in the third quarter, HoldingsChannel reports. The firm owned 49,400 shares of the construction company’s stock after selling 5,436 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in AAON were worth $5,327,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC purchased a new stake in AAON during the second quarter valued at approximately $29,000. Blue Trust Inc. increased its position in shares of AAON by 202.0% during the 3rd quarter. Blue Trust Inc. now owns 296 shares of the construction company’s stock valued at $32,000 after purchasing an additional 198 shares during the last quarter. Crewe Advisors LLC purchased a new stake in AAON during the 2nd quarter valued at $35,000. ORG Wealth Partners LLC bought a new stake in AAON in the third quarter worth $37,000. Finally, Signaturefd LLC boosted its stake in AAON by 63.5% during the second quarter. Signaturefd LLC now owns 613 shares of the construction company’s stock worth $53,000 after buying an additional 238 shares during the period. Institutional investors own 70.81% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at AAON

In related 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 value of $654,078.48. Following the completion of the transaction, the vice president now owns 4,953 shares of the company’s stock, valued at $675,490.14. The trade was a 49.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gary D. Fields sold 35,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $132.03, for a total value of $4,621,050.00. Following the sale, the chief executive officer now directly owns 64,295 shares in the company, valued at $8,488,868.85. This trade represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,217 shares of company stock valued at $5,467,162. Company insiders own 18.55% of the company’s stock.

AAON Stock Up 1.4 %

Shares of NASDAQ AAON opened at $137.42 on Friday. AAON, Inc. has a 52-week low of $61.09 and a 52-week high of $144.07. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of 60.54 and a beta of 0.79. The stock has a 50 day moving average price of $114.92 and a 200 day moving average price of $94.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.

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

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. AAON’s dividend payout ratio is currently 14.10%.

AAON Company 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.