AAON, Inc. $AAON Stock: Riverbridge Partners LLC Decreases Position

Riverbridge Partners LLC trimmed its position in shares of AAON, Inc. (NASDAQ:AAON) by 12.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,317 shares of the construction company’s stock after selling 26,294 shares during the period. Riverbridge Partners LLC’s holdings in AAON were worth $15,089,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AAON. Bank of New York Mellon Corp acquired a new stake in AAON in the second quarter valued at $55,284,000. American Capital Management Inc. acquired a new position in AAON during the 2nd quarter worth $47,595,000. First Trust Advisors LP grew its holdings in AAON by 22.1% during the 1st quarter. First Trust Advisors LP now owns 2,013,215 shares of the construction company’s stock worth $166,594,000 after acquiring an additional 364,101 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in AAON by 38.1% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,220,470 shares of the construction company’s stock worth $101,006,000 after acquiring an additional 336,730 shares in the last quarter. Finally, Ranger Investment Management L.P. bought a new stake in shares of AAON in the 2nd quarter worth about $30,574,000. 70.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AAON has been the topic of a number of recent analyst reports. KeyCorp restated a “sector weight” rating on shares of AAON in a research note on Thursday, August 13th. Robert W. Baird decreased their price target on AAON from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday. DA Davidson started coverage on AAON in a research note on Tuesday, September 15th. They issued a “buy” rating and a $110.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a report on Monday, October 12th. Finally, Oppenheimer restated an “outperform” rating and set a $105.00 price objective (down from $115.00) on shares of AAON in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.33.

Key Stories Impacting AAON

Here are the key news stories impacting AAON this week:

• Positive Sentiment: AAON reported record third-quarter revenue of $707.4 million, up 84.1% year over year, and adjusted EPS of $0.83 versus analysts’ $0.57 estimate. Backlog rose 40.5% to $1.9 billion. AAON Q3 results and outlook
• Positive Sentiment: The company raised its 2026 sales-growth outlook to 72%–75% (about $2.48 billion–$2.52 billion). BASX data-center cooling sales reportedly surged 218% to $397.2 million, reinforcing investor optimism about AAON’s exposure to AI infrastructure demand. AAON stock and data-center demand
• Neutral Sentiment: AAON declared a regular quarterly dividend of $0.10 per share, payable December 17 to shareholders of record November 25. Quarterly dividend announcement
• Negative Sentiment: The company restated its first- and second-quarter 2026 financial statements after identifying revenue-recognition and software-subscription errors, and disclosed a material weakness in internal controls. AAON said it is working on remediation. Outlook and restatement coverage
• Negative Sentiment: Robert W. Baird lowered its price target from $110 to $104, while maintaining an Outperform rating. Baird analyst coverage

Insider Transactions at AAON

In other AAON news, Director David Stewart acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average price of $74.66 per share, with a total value of $74,660.00. Following the transaction, the director directly owned 4,000 shares in the company, valued at approximately $298,640. This represents a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew Shaub acquired 457 shares of the company’s stock in a transaction that occurred 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 owned 3,136 shares of the company’s stock, valued at $239,653.12. This trade represents a 17.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 18.09% of the company’s stock.

AAON Stock Performance

Shares of AAON opened at $75.01 on Wednesday. The business’s fifty day moving average price is $76.71 and its 200 day moving average price is $96.71. AAON, Inc. has a 12-month low of $53.13 and a 12-month high of $150.46. The stock has a market capitalization of $6.18 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 1.17 and a beta of 1.45. 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 (NASDAQ:AAON) last released its quarterly earnings data on Monday, November 9th. The construction company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.26. AAON had a net margin of 8.75% and a return on equity of 20.97%. The firm had revenue of $707.43 million during the quarter, compared to the consensus estimate of $601.19 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The firm’s revenue was up 84.1% on a year-over-year basis. Equities research analysts forecast that AAON, Inc. will post 2.35 EPS for the current year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Wednesday, November 25th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, November 25th. AAON’s dividend payout ratio (DPR) is presently 20.83%.

About AAON

AAON, Inc. designs and manufactures heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial buildings. Founded in 1988, the company is headquartered in Tulsa, Oklahoma, and sells products under the AAON and BASX brands. Its products include rooftop units, chillers, air-handling units, heat pumps and other custom HVAC systems. BASX specializes in equipment for data centers and other demanding applications, while AAON also offers controls and related services. AAON serves customers primarily in North America, with products also reaching international markets through its sales and distribution network.