AAON, Inc. $AAON is Spyglass Capital Management LLC’s 4th Largest Position

Spyglass Capital Management LLC lowered its stake in AAON, Inc. (NASDAQ:AAON) by 9.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 776,629 shares of the construction company’s stock after selling 82,211 shares during the quarter. AAON comprises 5.3% of Spyglass Capital Management LLC’s portfolio, making the stock its 4th biggest holding. Spyglass Capital Management LLC’s holdings in AAON were worth $98,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AAON. EverSource Wealth Advisors LLC grew its stake in shares of AAON by 96.5% during the 2nd 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 during the period. Summit Securities Group LLC bought a new stake in AAON during the 4th quarter worth approximately $45,000. Danske Bank A S purchased a new position in AAON during the third quarter valued at approximately $47,000. Huntington National Bank boosted its position in shares of AAON by 21.1% in the fourth quarter. Huntington National Bank now owns 689 shares of the construction company’s stock worth $53,000 after purchasing an additional 120 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of AAON by 46.8% in the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock worth $67,000 after purchasing an additional 282 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on AAON. Zacks Research downgraded shares of AAON from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Oppenheimer cut their price target on AAON from $145.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Robert W. Baird cut their price target on AAON from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a report on Tuesday, July 14th. Finally, KeyCorp restated a “sector weight” rating on shares of AAON in a research report on Thursday, August 13th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $126.67.

AAON Trading Up 0.1%

Shares of AAON opened at $75.97 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01. AAON, Inc. has a 1 year low of $73.19 and a 1 year high of $150.46. The company has a 50 day simple moving average of $99.57 and a two-hundred day simple moving average of $104.55. The firm has a market cap of $6.26 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.18. AAON had a net margin of 8.24% and a return on equity of 17.32%. The firm had revenue of $626.98 million for the quarter, compared to analysts’ expectations of $508.82 million. During the same quarter last year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was up 101.2% compared to the same quarter last year. On average, equities analysts expect that AAON, Inc. will post 2.3 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, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, September 4th. AAON’s payout ratio is currently 20.83%.

Insider Transactions at AAON

In related news, EVP Matthew Shaub purchased 457 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were acquired at an average price of $76.42 per share, for a total transaction of $34,923.94. Following the purchase, the executive vice president directly owned 3,136 shares in the company, valued at $239,653.12. This trade represents a 17.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 18.09% of the company’s stock.

About AAON

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.