Envestnet Asset Management Inc. Acquires 7,159 Shares of AAON, Inc. (NASDAQ:AAON)

Envestnet Asset Management Inc. lifted its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 318,499 shares of the construction company’s stock after acquiring an additional 7,159 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.39% of AAON worth $27,786,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAON. ORG Partners LLC bought a new stake in AAON in the second quarter worth $29,000. TFO Wealth Partners LLC bought a new position in AAON in the fourth quarter valued at about $27,000. Crewe Advisors LLC purchased a new position in shares of AAON in the second quarter worth approximately $35,000. Signaturefd LLC increased its stake in shares of AAON by 63.5% in the 2nd quarter. Signaturefd LLC now owns 613 shares of the construction company’s stock worth $53,000 after purchasing an additional 238 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in AAON by 35.6% in the 1st quarter. GAMMA Investing LLC now owns 690 shares of the construction company’s stock worth $61,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Buying and Selling

In other AAON news, Director Norman H. Asbjornson sold 11,022 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total transaction of $963,433.02. Following the completion of the transaction, the director now owns 5,135 shares of the company’s stock, valued at $448,850.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Norman H. Asbjornson sold 11,022 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total transaction of $963,433.02. Following the completion of the transaction, the director now directly owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen E. Wakefield sold 29,946 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $90.13, for a total transaction of $2,699,032.98. Following the sale, the vice president now owns 15,670 shares in the company, valued at $1,412,337.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,609 shares of company stock valued at $5,441,927. 18.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AAON. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a research note on Friday. Robert W. Baird lifted their price objective on shares of AAON from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. DA Davidson reaffirmed a “buy” rating and set a $102.00 target price on shares of AAON in a research note on Wednesday, June 26th. Finally, Baird R W upgraded shares of AAON to a “hold” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $102.00.

AAON Trading Up 1.6 %

Shares of NASDAQ:AAON opened at $104.05 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. AAON, Inc. has a 52-week low of $52.24 and a 52-week high of $104.73. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 48.40 and a beta of 0.80. The business has a 50-day moving average price of $90.43 and a 200-day moving average price of $85.25.

AAON (NASDAQ:AAON) last posted its earnings results on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. AAON had a return on equity of 26.02% and a net margin of 15.60%. The firm had revenue of $313.57 million for the quarter, compared to analysts’ expectations of $283.77 million. During the same period last year, the firm earned $0.55 EPS. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts predict that AAON, Inc. will post 2.29 EPS for the current year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.32 dividend on an annualized basis and a yield of 0.31%. AAON’s dividend payout ratio is currently 14.88%.

AAON Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.