AAON, Inc. (NASDAQ:AAON) is Conestoga Capital Advisors LLC's 7th Largest Position

Conestoga Capital Advisors LLC reduced its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,890,640 shares of the construction company's stock after selling 234,546 shares during the period. AAON accounts for about 2.9% of Conestoga Capital Advisors LLC's holdings, making the stock its 7th biggest position. Conestoga Capital Advisors LLC owned 2.33% of AAON worth $222,490,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Highland Capital Management LLC purchased a new stake in AAON in the fourth quarter valued at approximately $615,000. Pacer Advisors Inc. boosted its stake in AAON by 3.7% during the 4th quarter. Pacer Advisors Inc. now owns 11,718 shares of the construction company's stock worth $1,379,000 after purchasing an additional 416 shares during the period. KBC Group NV grew its position in AAON by 42.9% during the 4th quarter. KBC Group NV now owns 2,703 shares of the construction company's stock worth $318,000 after purchasing an additional 811 shares during the last quarter. Blue Trust Inc. increased its stake in AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock valued at $41,000 after purchasing an additional 84 shares during the period. Finally, Conway Capital Management Inc. raised its holdings in shares of AAON by 4.0% in the fourth quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company's stock valued at $306,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

Insider Activity at AAON

In other news, VP Stephen E. Wakefield sold 5,362 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $130.99, for a total transaction of $702,368.38. Following the completion of the transaction, the vice president now owns 4,558 shares of the company's stock, valued at $597,052.42. This represents a 54.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gary D. Fields sold 35,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $132.03, for a total transaction of $4,621,050.00. Following the completion of the sale, the chief executive officer now directly owns 64,295 shares in the company, valued at $8,488,868.85. This represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,329 shares of company stock valued at $7,663,726. 18.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AAON shares. DA Davidson lifted their target price on AAON from $102.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Baird R W raised shares of AAON from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 28th. Sidoti cut shares of AAON from a "buy" rating to a "neutral" rating and raised their target price for the stock from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Finally, Robert W. Baird lifted their price objective on AAON from $130.00 to $138.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Two investment 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $133.00.

AAON Price Performance

Shares of NASDAQ:AAON traded down $0.85 during midday trading on Thursday, hitting $114.05. 826,570 shares of the stock were exchanged, compared to its average volume of 749,820. AAON, Inc. has a twelve month low of $70.28 and a twelve month high of $144.07. 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 price of $125.30 and a 200-day moving average price of $111.90. The stock has a market cap of $9.27 billion, a P/E ratio of 50.24 and a beta of 0.87.

AAON (NASDAQ:AAON - Get Free Report) last announced its earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.06. AAON had a net margin of 15.78% and a return on equity of 24.98%. The company had revenue of $327.25 million during the quarter, compared to analysts' expectations of $315.80 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 29th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Friday, November 29th. AAON's payout ratio is 14.10%.

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.