Highland Capital Management LLC Buys Shares of 5,228 AAON, Inc. (NASDAQ:AAON)

Highland Capital Management LLC purchased a new position in shares of AAON, Inc. (NASDAQ:AAON) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,228 shares of the construction company’s stock, valued at approximately $615,000.

Several other large investors have also recently added to or reduced their stakes in AAON. JPMorgan Chase & Co. boosted its position in shares of AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock worth $351,615,000 after buying an additional 150,207 shares during the period. Conestoga Capital Advisors LLC raised its stake in AAON by 1.9% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,125,186 shares of the construction company’s stock valued at $229,180,000 after acquiring an additional 39,059 shares in the last quarter. State Street Corp boosted its position in AAON by 0.6% during the 3rd quarter. State Street Corp now owns 1,977,531 shares of the construction company’s stock worth $213,257,000 after acquiring an additional 12,502 shares during the period. Wasatch Advisors LP grew its stake in shares of AAON by 39.1% in the third quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock worth $201,310,000 after purchasing an additional 525,132 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of AAON by 9.6% during the third quarter. FMR LLC now owns 1,729,498 shares of the construction company’s stock valued at $186,509,000 after purchasing an additional 151,540 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AAON

In other AAON news, VP Stephen E. Wakefield sold 5,750 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $139.86, for a total value of $804,195.00. Following the completion of the transaction, the vice president now directly owns 9,920 shares in the company, valued at $1,387,411.20. This trade represents a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Casey Kidwell sold 4,796 shares of AAON stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $136.38, for a total transaction of $654,078.48. Following the completion of the transaction, the vice president now directly owns 4,953 shares in the company, valued at approximately $675,490.14. This trade represents a 49.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,329 shares of company stock valued at $7,663,726 over the last three months. Company insiders own 18.55% of the company’s stock.

AAON Stock Performance

NASDAQ:AAON opened at $116.38 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average of $126.76 and a 200-day moving average of $111.24. AAON, Inc. has a twelve month low of $70.14 and a twelve month high of $144.07. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of 51.27 and a beta of 0.87.

AAON (NASDAQ:AAON) last issued its earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $327.25 million during the quarter, compared to analysts’ expectations of $315.80 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. Analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 29th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, November 29th. AAON’s payout ratio is 14.10%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AAON. DA Davidson increased their target price on shares of AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Baird R W upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Sidoti downgraded AAON from a “buy” rating to a “neutral” rating and upped their target price for the stock from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Finally, Robert W. Baird lifted their price target on AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.00.

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.