Principal Financial Group Inc. Sells 97,527 Shares of AAON, Inc. (NASDAQ:AAON)

Principal Financial Group Inc. lowered its stake in AAON, Inc. (NASDAQ:AAON) by 38.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,272 shares of the construction company’s stock after selling 97,527 shares during the quarter. Principal Financial Group Inc. owned about 0.19% of AAON worth $16,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Lord Abbett & CO. LLC raised its stake in AAON by 39.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company’s stock valued at $31,121,000 after purchasing an additional 81,111 shares during the period. Franklin Resources Inc. grew its holdings in AAON by 258.8% during the 3rd quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company’s stock valued at $37,014,000 after buying an additional 238,308 shares in the last quarter. Tidal Investments LLC grew its holdings in AAON by 5.7% during the 3rd quarter. Tidal Investments LLC now owns 13,534 shares of the construction company’s stock valued at $1,460,000 after buying an additional 732 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in AAON during the 3rd quarter valued at approximately $43,000. Finally, Westside Investment Management Inc. purchased a new position in AAON during the 3rd quarter valued at approximately $36,000. Institutional investors own 70.81% of the company’s stock.

Insider Activity

In other AAON news, CEO Gary D. Fields sold 35,000 shares of the business’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 owns 64,295 shares in the company, valued at approximately $8,488,868.85. The trade was a 35.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Casey Kidwell sold 1,421 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $135.14, for a total value of $192,033.94. Following the completion of the transaction, the vice president now owns 4,953 shares of the company’s stock, valued at approximately $669,348.42. The trade was a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,329 shares of company stock worth $7,663,726. Insiders own 18.55% of the company’s stock.

AAON Trading Down 1.0 %

Shares of NASDAQ AAON opened at $121.42 on Friday. The firm has a market cap of $9.87 billion, a PE ratio of 53.49 and a beta of 0.83. 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 twelve month low of $68.38 and a twelve month high of $144.07. The business has a fifty day simple moving average of $126.50 and a two-hundred day simple moving average of $103.95.

AAON (NASDAQ:AAON) last posted its earnings results on Thursday, November 7th. The construction company reported $0.63 EPS 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 the consensus estimate of $315.80 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. Analysts expect that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 29th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, November 29th. AAON’s payout ratio is currently 14.10%.

Wall Street Analyst Weigh In

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

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.