Norges Bank Takes $41.58 Million Position in AAON, Inc. $AAON

Norges Bank purchased a new stake in shares of AAON, Inc. (NASDAQ:AAON) in the 4th quarter, Holdings Channel reports. The fund purchased 545,368 shares of the construction company’s stock, valued at approximately $41,584,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AAON. EverSource Wealth Advisors LLC raised its stake in shares of AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock valued at $25,000 after acquiring an additional 164 shares in the last quarter. CBIZ Investment Advisory Services LLC bought a new stake in shares of AAON in the third quarter valued at about $26,000. Jones Financial Companies Lllp raised its stake in AAON by 59.5% in the third quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company’s stock worth $34,000 after buying an additional 141 shares in the last quarter. Danske Bank A S bought a new position in AAON in the third quarter worth approximately $47,000. Finally, Huntington National Bank raised its stake in AAON by 27.0% in the third quarter. Huntington National Bank now owns 569 shares of the construction company’s stock worth $53,000 after buying an additional 121 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

AAON has been the subject of a number of recent research reports. Wall Street Zen raised shares of AAON from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Oppenheimer reiterated an “outperform” rating on shares of AAON in a report on Friday, May 8th. Zacks Research upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Finally, William Blair reiterated an “outperform” rating on shares of AAON in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, AAON has an average rating of “Buy” and an average target price of $107.75.

AAON Stock Performance

Shares of AAON stock opened at $132.05 on Tuesday. The business’s fifty day simple moving average is $111.69 and its 200-day simple moving average is $96.74. The company has a market cap of $10.82 billion, a PE ratio of 92.34, a PEG ratio of 3.71 and a beta of 1.39. The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46. AAON, Inc. has a 12-month low of $62.00 and a 12-month high of $150.46.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, May 7th. The construction company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.17. AAON had a net margin of 7.30% and a return on equity of 13.67%. The firm had revenue of $496.94 million for the quarter, compared to the consensus estimate of $381.08 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 54.3% compared to the same quarter last year. Analysts expect that AAON, Inc. will post 2.23 earnings per share for the current fiscal year.

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. AAON’s dividend payout ratio is presently 27.97%.

Insider Activity at AAON

In other AAON news, CAO Rebecca Thompson sold 21,914 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $100.21, for a total transaction of $2,196,001.94. Following the transaction, the chief accounting officer owned 27,681 shares in the company, valued at approximately $2,773,913.01. This represents a 44.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gary D. Fields sold 31,271 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $134.07, for a total transaction of $4,192,502.97. Following the transaction, the director owned 34,252 shares in the company, valued at $4,592,165.64. The trade was a 47.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 155,698 shares of company stock worth $19,986,463. 18.09% of the stock is owned by company insiders.

AAON Company Profile

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.