Royal Bank of Canada Buys 2,710 Shares of AAON, Inc. (NASDAQ:AAON)

Posted by MarketBeat News on Mar 12th, 2023

Royal Bank of Canada boosted its holdings in shares of AAON, Inc. (NASDAQ:AAON – Get Rating) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,909 shares of the construction company’s stock after buying an additional 2,710 shares during the quarter. Royal Bank of Canada’s holdings in AAON were worth $7,107,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AAON. Strs Ohio purchased a new position in AAON during the third quarter valued at approximately $32,000. Bessemer Group Inc. increased its holdings in AAON by 39.7% during the third quarter. Bessemer Group Inc. now owns 598 shares of the construction company’s stock valued at $32,000 after buying an additional 170 shares during the period. Group One Trading L.P. purchased a new position in AAON during the first quarter valued at approximately $39,000. Pinnacle Financial Partners Inc. purchased a new position in AAON during the third quarter valued at approximately $40,000. Finally, Lazard Asset Management LLC purchased a new position in AAON in the first quarter worth $53,000. 70.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AAON news, VP Casey Kidwell sold 1,607 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $92.63, for a total value of $148,856.41. Following the completion of the transaction, the vice president now owns 2,616 shares in the company, valued at $242,320.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Casey Kidwell sold 1,607 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $92.63, for a total transaction of $148,856.41. Following the completion of the sale, the vice president now owns 2,616 shares of the company’s stock, valued at approximately $242,320.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Gordon Douglas Wichman sold 5,620 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $92.87, for a total transaction of $521,929.40. Following the sale, the vice president now directly owns 3,992 shares of the company’s stock, valued at approximately $370,737.04. The disclosure for this sale can be found here. Insiders own 19.27% of the company’s stock.

Analysts Set New Price Targets

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AAON has been the topic of several analyst reports. DA Davidson lifted their price target on shares of AAON from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, February 28th. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a report on Saturday, November 19th. Finally, CJS Securities lowered shares of AAON from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 28th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, AAON presently has an average rating of “Moderate Buy” and an average target price of $81.67.

AAON Trading Down 1.7 %

NASDAQ AAON opened at $90.48 on Friday. The company has a market capitalization of $4.84 billion, a PE ratio of 48.91 and a beta of 0.78. The company has a fifty day moving average of $79.37 and a 200 day moving average of $70.83. AAON, Inc. has a 1 year low of $47.50 and a 1 year high of $94.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.40 and a quick ratio of 1.03.

AAON (NASDAQ:AAON – Get Rating) last posted its earnings results on Monday, February 27th. The construction company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.16. The company had revenue of $254.60 million during the quarter, compared to the consensus estimate of $240.28 million. AAON had a net margin of 11.29% and a return on equity of 19.54%. The firm’s quarterly revenue was up 86.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. Research analysts forecast that AAON, Inc. will post 2.68 earnings per share for the current year.

AAON Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, March 31st. Shareholders of record on Monday, March 13th will be given a $0.12 dividend. The ex-dividend date is Friday, March 10th. This represents a dividend yield of 0.5%. AAON’s dividend payout ratio (DPR) is currently 12.97%.

AAON Profile

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AAON, Inc engages in the engineering, manufacturing, marketing and sale of air conditioning and heating equipment. It operates through the following segments: Units, Parts-External, Parts-Internal, and Other. Its products include air handling units, self contained units, packaged rooftop units, geothermal heat units, controls, and coils.