Principal Financial Group Inc. Sells 17,637 Shares of AAON, Inc. (NASDAQ:AAON)

Principal Financial Group Inc. reduced its position in shares of AAON, Inc. (NASDAQ:AAONGet Rating) by 6.3% in the second quarter, HoldingsChannel.com reports. The firm owned 263,507 shares of the construction company’s stock after selling 17,637 shares during the period. Principal Financial Group Inc.’s holdings in AAON were worth $14,430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mutual of America Capital Management LLC grew its stake in AAON by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 5,969 shares of the construction company’s stock worth $333,000 after purchasing an additional 310 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of AAON by 21.0% during the first quarter. State of New Jersey Common Pension Fund D now owns 43,913 shares of the construction company’s stock worth $2,447,000 after purchasing an additional 7,635 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in AAON by 2.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 41,520 shares of the construction company’s stock worth $2,314,000 after purchasing an additional 1,187 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in shares of AAON during the first quarter worth $58,000. Finally, Victory Capital Management Inc. boosted its position in shares of AAON by 718.1% during the first quarter. Victory Capital Management Inc. now owns 48,287 shares of the construction company’s stock worth $2,629,000 after acquiring an additional 42,385 shares during the last quarter. Hedge funds and other institutional investors own 70.61% of the company’s stock.

AAON Stock Down 1.1 %

AAON stock opened at $78.65 on Friday. The firm has a 50 day moving average of $63.13 and a 200 day moving average of $58.42. The stock has a market capitalization of $4.18 billion, a PE ratio of 62.92 and a beta of 0.76. The company has a quick ratio of 1.12, a current ratio of 2.36 and a debt-to-equity ratio of 0.15. AAON, Inc. has a 52 week low of $47.50 and a 52 week high of $83.79.

AAON Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, December 16th. Shareholders of record on Monday, November 28th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 25th. This is a positive change from AAON’s previous Semi-Annual dividend of $0.19. This represents a yield of 0.6%. AAON’s dividend payout ratio (DPR) is currently 30.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AAON shares. TheStreet upgraded shares of AAON from a “c+” rating to a “b” rating in a research report on Wednesday, November 9th. DA Davidson raised their price target on shares of AAON to $75.00 in a research note on Tuesday, November 15th. CJS Securities began coverage on shares of AAON in a research note on Thursday, September 15th. They issued an “outperform” rating and a $73.00 price target on the stock. Finally, StockNews.com upgraded shares of AAON from a “sell” rating to a “hold” rating in a report on Saturday, November 19th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.33.

Insiders Place Their Bets

In related news, CFO Rebecca Thompson sold 15,500 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $80.05, for a total value of $1,240,775.00. Following the completion of the sale, the chief financial officer now owns 9,877 shares of the company’s stock, valued at approximately $790,653.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Rony D. Gadiwalla sold 2,247 shares of the business’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $78.61, for a total transaction of $176,636.67. Following the transaction, the vice president now owns 20,726 shares of the company’s stock, valued at approximately $1,629,270.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Rebecca Thompson sold 15,500 shares of the business’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $80.05, for a total transaction of $1,240,775.00. Following the transaction, the chief financial officer now directly owns 9,877 shares in the company, valued at approximately $790,653.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,395 shares of company stock valued at $3,580,715. 19.27% of the stock is owned by insiders.

AAON Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for AAON (NASDAQ:AAON)

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