Geode Capital Management LLC Increases Stock Position in AAON, Inc. (NASDAQ:AAON)

Geode Capital Management LLC grew its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,234,036 shares of the construction company's stock after purchasing an additional 6,338 shares during the period. Geode Capital Management LLC owned about 1.52% of AAON worth $133,110,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its stake in AAON by 202.0% in the third quarter. Blue Trust Inc. now owns 296 shares of the construction company's stock worth $32,000 after buying an additional 198 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of AAON in the second quarter valued at about $35,000. ORG Wealth Partners LLC acquired a new position in AAON in the 3rd quarter worth approximately $37,000. Signaturefd LLC raised its position in AAON by 63.5% during the 2nd quarter. Signaturefd LLC now owns 613 shares of the construction company's stock worth $53,000 after buying an additional 238 shares during the last quarter. Finally, RiverPark Advisors LLC acquired a new stake in AAON during the 2nd quarter valued at approximately $77,000. 70.81% of the stock is currently owned by institutional investors.

AAON Price Performance

AAON traded down $5.99 during midday trading on Tuesday, hitting $128.67. 445,416 shares of the company traded hands, compared to its average volume of 587,610. The business has a 50 day simple moving average of $124.36 and a two-hundred day simple moving average of $101.52. AAON, Inc. has a 52-week low of $68.38 and a 52-week high of $144.07. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of 56.52 and a beta of 0.83. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, beating 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 firm had revenue of $327.25 million for the quarter, compared to analyst estimates of $315.80 million. During the same period last year, the company posted $0.64 EPS. AAON's quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. AAON's payout ratio is currently 14.10%.

Analyst Ratings Changes

AAON has been the subject of several recent research reports. Baird R W raised shares of AAON from a "hold" rating to a "strong-buy" rating in a report on Monday, October 28th. DA Davidson lifted their price objective on AAON from $102.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, November 8th. StockNews.com upgraded AAON from a "sell" rating to a "hold" rating in a research note on Friday, September 20th. Sidoti cut 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 objective on AAON from $130.00 to $138.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $133.00.

Insiders Place Their Bets

In other AAON news, CEO Gary D. Fields sold 35,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer now owns 64,295 shares of the company's stock, valued at approximately $8,488,868.85. The trade was a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Casey Kidwell sold 4,796 shares of the business's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total transaction of $654,078.48. Following the transaction, the vice president now directly owns 4,953 shares in the company, valued at approximately $675,490.14. The trade was a 49.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,329 shares of company stock valued at $7,663,726 in the last 90 days. 18.55% of the stock is owned by insiders.

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.