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

Riverbridge Partners LLC decreased its stake in shares of AAON, Inc. (NASDAQ:AAON) by 12.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 182,317 shares of the construction company’s stock after selling 26,294 shares during the period. Riverbridge Partners LLC owned 0.22% of AAON worth $15,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wasatch Advisors LP boosted its holdings in shares of AAON by 3.1% in the 2nd quarter. Wasatch Advisors LP now owns 2,338,517 shares of the construction company’s stock valued at $296,664,000 after purchasing an additional 70,399 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of 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 buying an additional 364,101 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of 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 buying an additional 336,730 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of AAON during the 2nd quarter worth $55,284,000. Finally, American Capital Management Inc. acquired a new stake in shares of AAON during the 2nd quarter worth $47,595,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. KeyCorp reaffirmed a “sector weight” rating on shares of AAON in a research report on Thursday, August 13th. Oppenheimer reissued an “outperform” rating and set a $105.00 price target (down from $115.00) on shares of AAON in a research report on Tuesday. Robert W. Baird dropped 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 report on Tuesday, September 15th. They issued a “buy” rating and a $110.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research note on Monday, October 12th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.33.

Insider Activity

In related news, EVP Matthew Shaub acquired 457 shares of the business’s stock in a transaction on Friday, August 28th. The shares were bought at an average cost of $76.42 per share, with a total value of $34,923.94. Following the completion of the transaction, the executive vice president directly owned 3,136 shares of the company’s stock, valued at $239,653.12. This trade represents a 17.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Stewart acquired 1,000 shares of AAON stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $74.66 per share, for a total transaction of $74,660.00. Following the purchase, the director owned 4,000 shares of the company’s stock, valued at $298,640. This represents a 33.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 18.09% of the company’s stock.

Key Headlines 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

AAON Price Performance

AAON opened at $75.01 on Wednesday. AAON, Inc. has a 52-week low of $53.13 and a 52-week high of $150.46. The company has a 50 day moving average of $76.71 and a two-hundred day moving average of $96.71. The company has a market cap of $6.18 billion, a P/E ratio of 26.31, a P/E/G ratio of 1.17 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 (NASDAQ:AAON) last issued its earnings results on Monday, November 9th. The construction company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.26. The business had revenue of $707.43 million for the quarter, compared to the consensus estimate of $601.19 million. AAON had a net margin of 8.75% and a return on equity of 20.97%. The business’s revenue for the quarter was up 84.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS. On average, analysts expect that AAON, Inc. will post 2.35 earnings per share for the current year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Wednesday, November 25th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, November 25th. AAON’s dividend payout ratio is currently 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.