Pembroke Management LTD Raises Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Pembroke Management LTD increased its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 37.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 228,398 shares of the construction company's stock after purchasing an additional 62,037 shares during the quarter. AAON makes up 3.4% of Pembroke Management LTD's portfolio, making the stock its 9th largest holding. Pembroke Management LTD owned approximately 0.28% of AAON worth $26,878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAON. JPMorgan Chase & Co. raised its stake in AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock worth $351,615,000 after acquiring an additional 150,207 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in AAON by 1.9% during the third quarter. Conestoga Capital Advisors LLC now owns 2,125,186 shares of the construction company's stock worth $229,180,000 after acquiring an additional 39,059 shares in the last quarter. State Street Corp raised its stake in AAON by 0.6% during the third quarter. State Street Corp now owns 1,977,531 shares of the construction company's stock worth $213,257,000 after acquiring an additional 12,502 shares in the last quarter. Wasatch Advisors LP raised its stake in AAON by 39.1% during the third quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company's stock worth $201,310,000 after acquiring an additional 525,132 shares in the last quarter. Finally, FMR LLC raised its stake in AAON by 9.6% during the third quarter. FMR LLC now owns 1,729,498 shares of the construction company's stock worth $186,509,000 after acquiring an additional 151,540 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AAON shares. Robert W. Baird raised their target price on AAON from $130.00 to $138.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Baird R W upgraded AAON from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 28th. Finally, DA Davidson raised their target price on AAON from $102.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $133.00.

Insider Activity at AAON

In related news, VP Stephen E. Wakefield sold 5,362 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $130.99, for a total value of $702,368.38. Following the transaction, the vice president now owns 4,558 shares in the company, valued at $597,052.42. This trade represents a 54.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rebecca Thompson sold 5,000 shares of the firm's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $138.00, for a total value of $690,000.00. Following the completion of the transaction, the chief financial officer now owns 17,297 shares in the company, valued at approximately $2,386,986. This represents a 22.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,112 shares of company stock worth $2,196,563 over the last 90 days. Insiders own 18.55% of the company's stock.

AAON Price Performance

Shares of NASDAQ:AAON traded down $6.96 during midday trading on Friday, reaching $103.63. The company's stock had a trading volume of 930,549 shares, compared to its average volume of 694,607. AAON, Inc. has a fifty-two week low of $70.28 and a fifty-two week high of $144.07. The company has a market capitalization of $8.42 billion, a P/E ratio of 45.65 and a beta of 0.87. 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 fifty day simple moving average is $120.19 and its 200-day simple moving average is $113.82.

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.