Lord Abbett & CO. LLC Acquires 81,111 Shares of AAON, Inc. (NASDAQ:AAON)

Lord Abbett & CO. LLC raised its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 39.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,581 shares of the construction company's stock after acquiring an additional 81,111 shares during the quarter. Lord Abbett & CO. LLC owned about 0.36% of AAON worth $31,121,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Blue Trust Inc. increased its holdings in shares of AAON by 202.0% during the third quarter. Blue Trust Inc. now owns 296 shares of the construction company's stock valued at $32,000 after acquiring an additional 198 shares in the last quarter. Westside Investment Management Inc. acquired a new position in AAON during the third quarter worth $36,000. ORG Partners LLC bought a new position in shares of AAON in the second quarter valued at $29,000. ORG Wealth Partners LLC bought a new position in shares of AAON in the third quarter valued at $37,000. Finally, Crewe Advisors LLC acquired a new position in shares of AAON during the second quarter valued at about $35,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AAON. DA Davidson raised their price target 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. Robert W. Baird raised their target price 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 AAON from a "sell" rating to a "hold" rating in a research report on Friday, September 20th. Baird R W raised AAON from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 28th. Finally, Sidoti lowered shares of 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 note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.00.

AAON Stock Performance

Shares of AAON stock traded up $3.34 during trading on Monday, hitting $134.66. The company's stock had a trading volume of 388,510 shares, compared to its average volume of 588,197. The business has a fifty day moving average of $124.36 and a 200-day moving average of $101.52. The company has a market cap of $10.95 billion, a PE ratio of 59.32 and a beta of 0.83. AAON, Inc. has a 52 week low of $68.38 and a 52 week 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.

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, beating the consensus estimate of $0.57 by $0.06. The firm had revenue of $327.25 million during the quarter, compared to analyst estimates of $315.80 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The business's revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS. As a group, research analysts anticipate that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Friday, November 29th. AAON's dividend payout ratio is currently 14.10%.

Insider Transactions at AAON

In other news, VP Casey Kidwell sold 4,796 shares of AAON 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary D. Fields sold 35,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $132.03, for a total transaction of $4,621,050.00. Following the sale, the chief executive officer now owns 64,295 shares in the company, valued at $8,488,868.85. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,967 shares of company stock worth $6,961,357 in the last quarter. Insiders own 18.55% of the company's stock.

AAON Company 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.