Fred Alger Management LLC Takes $15.70 Million Position in AAON, Inc. (NASDAQ:AAON)

Fred Alger Management LLC purchased a new position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 179,968 shares of the construction company's stock, valued at approximately $15,700,000. Fred Alger Management LLC owned 0.22% of AAON as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. TFO Wealth Partners LLC purchased a new stake in shares of AAON during the fourth quarter worth $27,000. ORG Partners LLC acquired a new stake in AAON in the 2nd quarter valued at about $29,000. Crewe Advisors LLC purchased a new position in shares of AAON in the 2nd quarter valued at about $35,000. Signaturefd LLC grew its position in shares of AAON by 63.5% during the second quarter. Signaturefd LLC now owns 613 shares of the construction company's stock worth $53,000 after buying an additional 238 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of AAON by 35.6% during the first quarter. GAMMA Investing LLC now owns 690 shares of the construction company's stock worth $61,000 after buying an additional 181 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AAON

In related news, CEO Gary D. Fields sold 20,641 shares of the company's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total value of $1,779,460.61. Following the completion of the sale, the chief executive officer now owns 64,295 shares in the company, valued at approximately $5,542,871.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Stephen E. Wakefield sold 29,946 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $90.13, for a total transaction of $2,699,032.98. Following the completion of the sale, the vice president now directly owns 15,670 shares of the company's stock, valued at $1,412,337.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary D. Fields sold 20,641 shares of the company's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the transaction, the chief executive officer now owns 64,295 shares of the company's stock, valued at approximately $5,542,871.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,609 shares of company stock worth $5,441,927. Insiders own 18.55% of the company's stock.

AAON Stock Down 0.3 %

Shares of AAON stock traded down $0.28 during trading hours on Thursday, hitting $107.02. The company had a trading volume of 374,484 shares, compared to its average volume of 642,003. The company's 50-day moving average is $91.40 and its two-hundred day moving average is $85.80. AAON, Inc. has a twelve month low of $52.24 and a twelve month high of $109.07. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 1.70. The company has a market cap of $8.80 billion, a P/E ratio of 49.91 and a beta of 0.80.

AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.08. The business had revenue of $313.57 million for the quarter, compared to analysts' expectations of $283.77 million. AAON had a return on equity of 26.02% and a net margin of 15.60%. The business's revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Analysts anticipate that AAON, Inc. will post 2.29 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, September 6th. AAON's payout ratio is currently 14.88%.

Analyst Ratings Changes

Several research firms have commented on AAON. Baird R W upgraded shares of AAON to a "hold" rating in a report on Wednesday, July 24th. DA Davidson reiterated a "buy" rating and set a $102.00 target price on shares of AAON in a research note on Wednesday, June 26th. Robert W. Baird raised their price target on AAON from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Finally, StockNews.com raised AAON from a "sell" rating to a "hold" rating in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, AAON has a consensus rating of "Hold" and a consensus price target of $102.00.

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.