HighTower Advisors LLC Has $1.41 Million Stake in AAON, Inc. (NASDAQ:AAON)

HighTower Advisors LLC raised its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 46.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,043 shares of the construction company's stock after purchasing an additional 4,146 shares during the period. HighTower Advisors LLC's holdings in AAON were worth $1,408,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Erste Asset Management GmbH acquired a new position in shares of AAON in the third quarter valued at approximately $8,000,000. Wasatch Advisors LP lifted its stake in shares of AAON by 39.1% during the 3rd 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 during the period. Captrust Financial Advisors boosted its holdings in shares of AAON by 1.0% during the third quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company's stock worth $949,000 after purchasing an additional 89 shares during the last quarter. Cynosure Group LLC boosted its holdings in shares of AAON by 56.2% during the third quarter. Cynosure Group LLC now owns 7,234 shares of the construction company's stock worth $780,000 after purchasing an additional 2,602 shares during the last quarter. Finally, Hardy Reed LLC purchased a new stake in shares of AAON in the third quarter valued at $243,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

AAON Stock Up 2.5 %

Shares of AAON traded up $3.34 during mid-day trading on Monday, reaching $134.66. 388,510 shares of the stock traded hands, compared to its average volume of 588,197. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 59.32 and a beta of 0.83. The stock has a fifty day simple moving average of $124.36 and a 200 day simple moving average of $101.52. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. AAON, Inc. has a 12-month low of $68.38 and a 12-month high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last released its earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $315.80 million. During the same quarter in the previous year, the firm earned $0.64 EPS. The company's revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 29th will be paid 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 0.24%. AAON's payout ratio is currently 14.10%.

Insider Activity

In related news, VP Casey Kidwell sold 4,796 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total value of $654,078.48. Following the completion of the sale, the vice president now owns 4,953 shares of the company's stock, valued at $675,490.14. This represents a 49.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Stephen E. Wakefield sold 5,750 shares of the company's stock in a transaction on 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 represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,967 shares of company stock valued at $6,961,357. 18.55% of the stock is currently 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.