Oppenheimer Asset Management Inc. Takes $647,000 Position in AAON, Inc. (NASDAQ:AAON)

Oppenheimer Asset Management Inc. purchased a new position in shares of AAON, Inc. (NASDAQ:AAON) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,413 shares of the construction company’s stock, valued at approximately $647,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC grew its holdings in shares of AAON by 3.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 6,963 shares of the construction company’s stock worth $514,000 after buying an additional 257 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of AAON by 121.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,645 shares of the construction company’s stock valued at $639,000 after purchasing an additional 4,743 shares during the last quarter. Norges Bank purchased a new position in shares of AAON in the 4th quarter valued at approximately $43,832,000. Advisory Services Network LLC acquired a new position in shares of AAON in the fourth quarter valued at approximately $234,000. Finally, TD Asset Management Inc purchased a new stake in shares of AAON during the fourth quarter worth approximately $1,748,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AAON news, CEO Gary D. Fields sold 20,641 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total value of $1,779,460.61. Following the sale, the chief executive officer now owns 64,295 shares of the company’s stock, valued at $5,542,871.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AAON news, CEO Gary D. Fields sold 20,641 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total value of $1,779,460.61. Following the sale, the chief executive officer now owns 64,295 shares of the company’s stock, valued at $5,542,871.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen E. Wakefield sold 29,946 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $90.13, for a total transaction of $2,699,032.98. Following the completion of 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. Over the last ninety days, insiders sold 61,609 shares of company stock valued at $5,441,927. 18.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on AAON shares. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research note on Friday. Baird R W upgraded shares of AAON to a “hold” rating in a research note on Wednesday, July 24th. DA Davidson reissued a “buy” rating and set a $102.00 price target on shares of AAON in a report on Wednesday, June 26th. Finally, Robert W. Baird lifted their price objective on AAON from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, AAON currently has an average rating of “Hold” and an average price target of $102.00.

AAON Price Performance

Shares of NASDAQ AAON opened at $104.05 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.99. AAON, Inc. has a one year low of $52.24 and a one year high of $104.73. The firm has a market capitalization of $8.55 billion, a P/E ratio of 48.40 and a beta of 0.80. The company’s fifty day moving average is $90.43 and its two-hundred day moving average is $85.22.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. AAON had a net margin of 15.60% and a return on equity of 26.02%. The firm had revenue of $313.57 million for the quarter, compared to the consensus estimate of $283.77 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. Analysts forecast that AAON, Inc. will post 2.29 EPS for the current fiscal year.

AAON Announces Dividend

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

About AAON

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.