Connor Clark & Lunn Investment Management Ltd. Lowers Stock Position in AAON, Inc. (NASDAQ:AAON)

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 9.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,400 shares of the construction company's stock after selling 5,436 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of AAON worth $5,327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in AAON during the 2nd quarter valued at approximately $29,000. Blue Trust Inc. increased its stake in AAON by 202.0% in the 3rd quarter. Blue Trust Inc. now owns 296 shares of the construction company's stock valued at $32,000 after buying an additional 198 shares during the period. Crewe Advisors LLC purchased a new position in AAON during the 2nd quarter worth $35,000. ORG Wealth Partners LLC acquired a new stake in shares of AAON in the 3rd quarter worth $37,000. Finally, Signaturefd LLC boosted its holdings in shares of AAON by 63.5% in the second quarter. Signaturefd LLC now owns 613 shares of the construction company's stock valued at $53,000 after acquiring an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

Wall Street Analysts Forecast Growth

AAON has been the topic of several recent analyst reports. Baird R W upgraded AAON from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 28th. StockNews.com upgraded shares of AAON from a "sell" rating to a "hold" rating in a report on Friday, September 20th. DA Davidson upped their target price on shares of AAON from $102.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Sidoti downgraded shares of AAON from a "buy" rating to a "neutral" rating and lifted their price target for the company from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Finally, Robert W. Baird upped their price target on AAON from $130.00 to $138.00 and gave the stock an "outperform" rating in a 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $133.00.

Insider Buying and Selling at AAON

In related news, CEO Gary D. Fields sold 35,000 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $132.03, for a total value of $4,621,050.00. Following the completion of the transaction, the chief executive officer now directly owns 64,295 shares in the company, valued at approximately $8,488,868.85. This represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Casey Kidwell sold 4,796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $136.38, for a total value of $654,078.48. Following the transaction, the vice president now owns 4,953 shares in the company, valued at $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. In the last ninety days, insiders have sold 41,217 shares of company stock worth $5,467,162. Corporate insiders own 18.55% of the company's stock.

AAON Price Performance

AAON traded up $1.86 during midday trading on Friday, reaching $137.42. 564,509 shares of the company's stock were exchanged, compared to its average volume of 510,125. AAON, Inc. has a 1-year low of $61.09 and a 1-year high of $144.07. The stock has a market capitalization of $11.17 billion, a PE ratio of 60.54 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The business's 50-day moving average price is $114.92 and its 200 day moving average price is $94.98.

AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.06. AAON had a return on equity of 24.98% and a net margin of 15.78%. The firm had revenue of $327.25 million for the quarter, compared to analyst estimates of $315.80 million. During the same quarter in the prior year, the company earned $0.64 EPS. AAON's revenue was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.23%. The ex-dividend date is 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.