Truist Financial Corp Makes New $508,000 Investment in AAON, Inc. $AAON

Truist Financial Corp acquired a new position in AAON, Inc. (NASDAQ:AAON) during the third quarter, according to its most recent filing with the SEC. The firm acquired 5,432 shares of the construction company’s stock, valued at approximately $508,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAON. Geneva Capital Management LLC lifted its stake in AAON by 7.3% in the second quarter. Geneva Capital Management LLC now owns 2,036,752 shares of the construction company’s stock worth $150,210,000 after acquiring an additional 139,024 shares during the period. Geode Capital Management LLC raised its holdings in AAON by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,341,376 shares of the construction company’s stock worth $98,941,000 after purchasing an additional 26,302 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of AAON in the 2nd quarter worth about $87,147,000. Ameriprise Financial Inc. boosted its stake in shares of AAON by 8.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,120,324 shares of the construction company’s stock valued at $82,624,000 after purchasing an additional 87,426 shares in the last quarter. Finally, Mawer Investment Management Ltd. boosted its stake in shares of AAON by 39.7% during the 2nd quarter. Mawer Investment Management Ltd. now owns 790,466 shares of the construction company’s stock valued at $58,297,000 after purchasing an additional 224,494 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

AAON has been the subject of a number of research reports. DA Davidson restated a “buy” rating and issued a $120.00 price objective on shares of AAON in a report on Tuesday, February 3rd. Oppenheimer reissued an “outperform” rating and issued a $115.00 target price on shares of AAON in a research report on Friday, November 7th. William Blair restated an “outperform” rating on shares of AAON in a research report on Tuesday, December 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered AAON from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, AAON presently has a consensus rating of “Moderate Buy” and an average price target of $107.60.

AAON Price Performance

AAON stock opened at $101.61 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.03 and a current ratio of 3.04. The firm has a 50 day moving average price of $85.75 and a 200-day moving average price of $89.09. AAON, Inc. has a 52-week low of $62.00 and a 52-week high of $116.04. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 83.98 and a beta of 1.11.

Insider Buying and Selling

In related news, EVP Stephen E. Wakefield bought 4,141 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were purchased at an average cost of $77.59 per share, with a total value of $321,300.19. Following the completion of the purchase, the executive vice president owned 15,212 shares in the company, valued at approximately $1,180,299.08. The trade was a 37.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 18.70% 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.