Ferguson Wellman Capital Management Inc. Decreases Holdings in AAON, Inc. $AAON

Ferguson Wellman Capital Management Inc. decreased its stake in AAON, Inc. (NASDAQ:AAON) by 9.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 150,136 shares of the construction company’s stock after selling 15,895 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in AAON were worth $19,046,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position 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 buying an additional 164 shares during the period. Summit Securities Group LLC bought a new position in shares of AAON in the fourth quarter valued at approximately $45,000. Danske Bank A S bought a new position in shares of AAON in the third quarter valued at approximately $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 valued at $53,000 after acquiring an additional 120 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in AAON by 46.8% during the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock valued at $67,000 after acquiring an additional 282 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

AAON Stock Down 2.9%

Shares of NASDAQ AAON opened at $75.87 on Friday. The stock has a market capitalization of $6.26 billion, a P/E ratio of 39.52, a PEG ratio of 1.48 and a beta of 1.45. AAON, Inc. has a one year low of $73.19 and a one year high of $150.46. The firm’s 50 day simple moving average is $100.77 and its two-hundred day simple moving average is $104.67. 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 posted its quarterly earnings results 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. The business had revenue of $626.98 million during the quarter, compared to analyst estimates of $508.82 million. AAON had a net margin of 8.24% and a return on equity of 17.32%. The company’s revenue was up 101.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. As a group, analysts expect that AAON, Inc. will post 2.3 EPS for the current fiscal year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.10 dividend. 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 dividend payout ratio (DPR) is presently 20.83%.

Insider Activity

In other news, CAO Rebecca Thompson sold 4,230 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was 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 SEC, which is available through the SEC website. 18.09% of the stock is owned by insiders.

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.