Norges Bank Purchases Shares of 545,368 AAON, Inc. $AAON

Norges Bank purchased a new stake in shares of AAON, Inc. (NASDAQ:AAON) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 545,368 shares of the construction company’s stock, valued at approximately $41,584,000. Norges Bank owned 0.67% of AAON as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AAON. EverSource Wealth Advisors LLC grew its position 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. CBIZ Investment Advisory Services LLC bought a new stake in shares of AAON during the 3rd quarter valued at $26,000. Jones Financial Companies Lllp grew its position in shares of AAON by 59.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company’s stock valued at $34,000 after acquiring an additional 141 shares during the period. Danske Bank A S bought a new stake in shares of AAON during the 3rd quarter valued at $47,000. Finally, Huntington National Bank grew its position in shares of AAON by 27.0% during the 3rd quarter. Huntington National Bank now owns 569 shares of the construction company’s stock valued at $53,000 after acquiring an additional 121 shares during the period. Institutional investors own 70.81% of the company’s stock.

Insiders Place Their Bets

In other AAON news, Director Gary D. Fields sold 31,271 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $134.07, for a total transaction of $4,192,502.97. Following the completion of the transaction, the director owned 34,252 shares of the company’s stock, valued at $4,592,165.64. This represents a 47.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rebecca Thompson sold 21,914 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $100.21, for a total transaction of $2,196,001.94. Following the transaction, the chief accounting officer directly owned 27,681 shares of the company’s stock, valued at $2,773,913.01. This trade represents a 44.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 155,698 shares of company stock valued at $19,986,463. 18.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AAON shares. Oppenheimer reiterated an “outperform” rating on shares of AAON in a research note on Friday, May 8th. Wall Street Zen upgraded AAON from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Zacks Research upgraded AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Finally, William Blair reiterated an “outperform” rating on shares of AAON in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, AAON currently has an average rating of “Buy” and a consensus price target of $107.75.

AAON Trading Down 0.4%

Shares of AAON stock opened at $132.05 on Tuesday. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $150.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62. The company has a market capitalization of $10.82 billion, a P/E ratio of 92.34, a P/E/G ratio of 3.71 and a beta of 1.39. The company has a fifty day moving average of $111.69 and a 200 day moving average of $96.74.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.17. AAON had a return on equity of 13.67% and a net margin of 7.30%.The business had revenue of $496.94 million during the quarter, compared to the consensus estimate of $381.08 million. During the same period in the prior year, the company posted $0.37 EPS. The firm’s revenue for the quarter was up 54.3% compared to the same quarter last year. On average, sell-side analysts anticipate that AAON, Inc. will post 2.23 earnings per share for the current fiscal year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, June 5th. AAON’s dividend payout ratio is presently 27.97%.

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.