Wellington Management Group LLP Sells 2,204,688 Shares of AAON, Inc. $AAON

Wellington Management Group LLP reduced its stake in shares of AAON, Inc. (NASDAQ:AAON) by 27.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,772,476 shares of the construction company’s stock after selling 2,204,688 shares during the period. Wellington Management Group LLP owned approximately 0.07% of AAON worth $732,296,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AAON. EverSource Wealth Advisors LLC raised its stake in AAON by 96.5% in the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock valued at $25,000 after purchasing an additional 164 shares in the last quarter. Summit Securities Group LLC bought a new stake in AAON during the fourth quarter worth about $45,000. Danske Bank A S acquired a new stake in AAON during the third quarter worth about $47,000. Huntington National Bank grew its stake in AAON by 21.1% during the fourth quarter. Huntington National Bank now owns 689 shares of the construction company’s stock worth $53,000 after buying an additional 120 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in AAON by 46.8% in the 4th quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock valued at $67,000 after buying an additional 282 shares during the period. Institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, CAO Rebecca Thompson sold 4,230 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total transaction of $606,666.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 18.09% of the company’s stock.

AAON Stock Performance

NASDAQ:AAON opened at $75.87 on Friday. The stock’s 50-day simple moving average is $100.77 and its 200 day simple moving average is $104.67. The firm has a market capitalization of $6.26 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45. The company has a quick ratio of 2.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. AAON, Inc. has a twelve month low of $73.19 and a twelve month high of $150.46.

AAON (NASDAQ:AAON) last issued its earnings results on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.51 by $0.18. The firm had revenue of $626.98 million during the quarter, compared to the consensus estimate of $508.82 million. AAON had a return on equity of 17.32% and a net margin of 8.24%.The business’s quarterly revenue was up 101.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 earnings per share. On average, analysts anticipate that AAON, Inc. will post 2.3 EPS for the current fiscal year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. AAON’s payout ratio is 20.83%.

AAON 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.